Posted on 05/01/2009 8:51:06 PM PDT by sickoflibs
GWB 2002 Speech :”More and more people own their homes in America today. Yet we have a problem here in America because fewer than half the Hispanics and African Americans own their own homes. That’s a home ownership gap; a gap that we got to work together to close. And by the end of this decade we’ll increase the number of minority homeowners (future Obama voters ) by 5.5 million families. “
“One of the major obstacles to minority home-ownership is financing. Fannie Mae and Freddy Mac (who I will bail out in 2008) have committed to provide more money for lenders, they committed to meet the shortage of capital available for minority home-buyers. Freddie Mac just began 25 initiatives around the country to dismantle barriers (like income requirements) and create better opportunities for home-ownership. One of the programs is designed to help families with bad credit histories to qualify for home ownership loans (by faking their income) . You don’t have to have a lousy home for first time home-buyers. You put your mind to it the first time low income home buyer can have just as nice a house as anyone else (till those adjustable rates go up). “
video at : economic crisis president bush mortgage speech
December 16, 2003
Expanding Homeownership Opportunities for All Americans
Today's Presidential Action
Today, President Bush signed into law the American Dream Downpayment Act of 2003, which will help approximately 40,000 families a year with their down payment and closing costs, and further strengthen America's housing market. This legislation complements the President's aggressive housing agenda announced in 2002 to dismantle the barriers to homeownership. Today, the Department of Housing and Urban Development (HUD) and the Census Bureau released data showing that new home construction in November reached its highest level in nearly 20 years. Overall housing starts rose 4.5 percent from October and rose 17.6 percent from November of 2002. Single-family housing starts totaled 1,695,000 (SAAR) in November, up 3.3 percent from October and up 20.8 percent from November 2002 -- a record for single-family starts. The strong housing market is beneficial for communities across the Nation. America's families have been refinancing due to the lowest mortgage rates in 45 years, saving hundreds of dollars a month on their home payments. The U.S. homeownership rate was 68.4% in the third quarter?its highest level ever.
Background on Today's Presidential Action
The biggest barrier to homeownership is often accumulating funds for a down payment. In June 2002, President Bush proposed the American Dream Downpayment Fund to help low-income families take much-needed steps to own a home of their own, and announced the goal of increasing the number of minority homeowners by at least 5.5 million before the end of the decade. President Bush's aggressive housing agenda to dismantle the barriers to homeownership includes providing down payment assistance through the American Dream Downpayment Fund; increasing the supply of affordable homes through the Single-Family Affordable Housing Tax Credit; increasing support for self-help homeownership programs like Habitat for Humanity; simplifying the home-buying process; and increasing home-buying education.
Dismantling the Barriers to Homeownership President Bush issued America's Homeownership Challenge to the real estate and mortgage finance industries to encourage them to join the effort to close the gap that exists between the homeownership rates of minorities and non-minorities. The Bush Administration and the America's Homeownership Challenge partners in the private sector are working hard to increase minority homeownership, and are seeing positive results:
There are more than 1 million new minority homeowners in the U.S. since the President's announcement 18 months ago. Nearly 1,500 low-income families are now using housing vouchers to pay their monthly mortgage or other costs of owning a home, and HUD is working with public housing authorities to allow the sale of some units to tenants. The Federal Trade Commission and HUD are working together to protect homebuyers from predatory lenders. The Federal Deposit Insurance Corporation is continuing to implement the Money Smart program, which is providing financial education services for potential homebuyers. Through America's Homeownership Challenge, more than 2 dozen companies have made commitments to increase minority homeownership, including pledges to provide more than $1.1 trillion in mortgage purchases for minority homebuyers this decade. The Bush Administration has begun the final stage of its effort to reduce closing costs, simplify the settlement paperwork, and eliminate surprise closing costs for American homebuyers by reforming the rules governing the Real Estate Settlement Procedures Act.Strengthening Economic Activity
According to an analysis released in 2002 by HUD, meeting the President's goal to close the housing gap will involve $256 billion in economic activity in the form of construction and remodeling jobs, spending on household goods, and other benefits. Because of rising home values, Americans are enjoying more than $2.5 trillion of greater housing wealth than they did at the beginning of 2001.
sickoflibs ACTUAL agenda sample by sickoflibs: “ It is not merely that inflation breeds dishonesty in a nation. Inflation is itself a dishonest act on the part of government, and sets the example for private citizens. When modern governments inflate by increasing the paper-money supply, directly or indirectly, they do in principle what kings once did when they clipped coins. Diluting the money supply with paper is the moral equivalent of diluting the milk supply with water. Notwithstanding all the pious pretenses of governments that inflation is some evil visitation from without, inflation is practically always the result of deliberate governmental policy. “
From : “What You Should Know About Inflation” by Henry Hazlitt
“ It is not merely that inflation breeds dishonesty in a nation. Inflation is itself a dishonest act on the part of government, and sets the example for private citizens. When modern governments inflate by increasing the paper-money supply, directly or indirectly, they do in principle what kings once did when they clipped coins. Diluting the money supply with paper is the moral equivalent of diluting the milk supply with water. Notwithstanding all the pious pretenses of governments that inflation is some evil visitation from without, inflation is practically always the result of deliberate governmental policy. “
From : “What You Should Know About Inflation” by Henry Hazlitt
“Fact Sheet: Expanding Homeownership Opportunities for All Americans
En Español
December 16, 2003
Expanding Homeownership Opportunities for All Americans
Today’s Presidential Action
Today, President Bush signed into law the American Dream Downpayment Act of 2003, w”
Bookmarking your post!Thanks.
"...the President's goal to close the housing gap will involve $256 billion in economic activity in the form of construction and remodeling jobs, spending on household goods, and other benefits. ..."Gee... I wonder, who filled those jobs?
Nice try, but there is a huge push here to rewrite history and denigrate both Bush and the GOP Congress with blanket statements and lies. I can only assume FR has been taken over by Leftist moles, who have been laying low till now, and the looney Third Party whack-jobs who never stop screaming about “RINOs”.
“Nice try, but there is a huge push here to rewrite history and denigrate both Bush and the GOP Congress with blanket statements and lies. I can only assume FR has been taken over by Leftist moles, who have been laying low till now, and the looney Third Party whack-jobs who never stop screaming about “RINOs”.”
There is no need to lie! this GOP congress ?? Where Exactly is that? Look at the voting record not very GOP Like.
And that Pant load W where do you start??? The amnesty or His Racist remarks were a nice touch right up there with his great Religion that he flooded this country with BTW put his liebury in mexico..
Try again when you can make sense.
I remember one of W's state of the union speeches in which he bragged about more people being able to own homes. Yes, Dodd and Frank should be run out of town, but there's plenty of blame to go around.
Worth repeating, very well put!,
My thoughts are that his popularity was already declining by 2004 but Rove told him he could win election if he reached out to certain groups, elderly and single Mom's with sellout spending bills (Medicare drugs, and Education, no vouchers. ) And it worked , he got elected with better margin than 2000 by pulling in a few more million voters (very expensive) . So as his popularity really started to decline he continued, more big government sellouts, but there was no amount of money or sellouts that would work long term. I can tell you what those groups complain the most about him , and it's common to most voters. He could not buy that back. Once the economy tanked it was over for him. He was hoping Iraq victory would save his legacy. So he spent more and more.
I would suggest a review of history then get back Regards.
Credit ratings change as people clean up their financial acts - pay down debts, accumulate savings, pay bills on time, and pay off amounts in collections, if need be.
Bad credit is not a lifetime sentence. The number is not fixed, it changes. No idea why more folks don’t realize this.
For those on these boards who recognize this anti-conservative agenda that you are running, its not enough to rebut it here.
From what I can tell, there has been no rationale provided by the lonestar67 screenname and any argument presented has been pretty well shot down.
As to an "anti-conservative" agenda, you have demonstrated that pretty clearly by defending the socialist programs introduced by our last President(R). And now, we have a new President(D) offering up socialist-programs-on-steroids.
Let me guess, Ron Paul is your guy.
How dare you call Bush programs socialist? bush TARP 1 was free market economic growth but TARP 2 was socialist as lone-bushbot told us. Are you working for Obama? How much do you get paid? Who did you vote for?? Why didnt you say everything bad during Bush was Obama’s fault? I am a conservative because I protect Bush. You are from Move-on
Everyone, this thread is taken over by Obama trolls that dis our great capitalist leader GWB.
To GWB! To the good times! (this is a lone-bush bot similated response, not my opinion of calcowgirl LOL)
Because it's ownership only if you've actually earned it yourself.
Great research, Thanks! I didnt even remember that!
My theory is government assistance corrupts the soul. It creates a loyalty to government like to parents, or God . The support of redistribution, say tax increases or printing money, is then viewed as PERSONAL generosity. (A liberal manager recently told me, "I am willing to pay more taxes"). What people think is either : " The gov helped me, why not everyone? " or " The gov helps everyone, why not me? "
God becomes gov.
What do you call taking taxpayer money and giving it to poor people so they can buy houses? Is there a better word than socialist?
Are you working for Obama? How much do you get paid? Who did you vote for?? Why didnt you say everything bad during Bush was Obama’s fault? I am a conservative because I protect Bush. You are from Move-on. Everyone, this thread is taken over by Obama trolls that dis our great capitalist leader GWB. To GWB! To the good times!
ROFL! I'm from the "Government is not the solution" branch of the GOP, a dying breed according to the stuff coming out of lonestar.
(this is a lone-bush bot similated response, not my opinion of calcowgirl LOL)
I get it. But I thought I'd put it in bold, just in case.
If you want to keep denying Bush's supoport for low-income housing, then have fun, but don't try to ignore the record. Whether he supported it or not, he sure took credit for it.
Let me guess. You're RINO.
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