Not all low-income people are minorities. In fact, homeownership is a good thing. I would much rather have my tax dollars going to help people in this way, than to fund their living in some welfare apartment complex where they deal drugs and steal from others in the neighborhood. What this bill offers is no different than what I got from the VA.
From her website: “Studies show that the average net worth of low-income persons, which is $900 when they rent, skyrockets to $70,000 when they own their own home. Moreover, statistics demonstrate that children of families who own their own home experience a 13 percent higher graduation rate together with a 7 percent accelerated rate of math achievement and reading recognition Additionally, such children complete almost one-half year more of education.
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The American Dream Downpayment Act attacks the homeownership gap that exists across America by authorizing $400 million in grants to cover the downpayment and closing costs associated with purchasing a home, which housing advocates have identified as the largest impediment preventing low-income Americans from owning their own home."