The Republicans in Congress don’t deserve blame for the most part. But GW Bush and his “home ownership for all” plank of “compassionate conservatism” certainly is one of the biggest culprits.
yes, he’s taken a lot of credit for rising home ownership. I can’t help but feel the pendulum will swing back to a more positive outlook and return to normalcy.
On June 17, 2002
Bush said:
And so, therefore, education is a critical component of increasing ownership throughout America. Financial education, housing counseling, how to help people understand that there are unscrupulous lenders. And so one of the things we’re going to do is we’re going to promote education, the education of owning a home, the education of buying a home throughout our society...The Neighborhood Reinvestment Corporation will dramatically expand financial and home buyer education efforts to 380,000 minority families.
We’re beginning to use the Internet better, so that realtors all across the country will be able to call up programs all designed to help minority home buyers understand what’s available, what’s possible, and what to avoid.