Skip to comments.Speaker Hastert Touts Law Closing the Homeownership Gap for Minorities
Posted on 10/01/2003 4:10:41 PM PDT by chance33_98
Speaker Hastert Touts Law Closing the Homeownership Gap for Minorities
10/1/03 5:46:00 PM
To: National Desk
Contact: Pete Jeffries, John Feehery or Charles Chamberlayne, 202-225-2800, all of the Office of Speaker J. Dennis Hastert; Web: http://www.speaker.gov
WASHINGTON, Oct. 1 /U.S. Newswire/ -- Today, Speaker J. Dennis Hastert (R-Ill.) and U.S. Department of Housing and Urban Development Secretary Mel Martinez joined House Republicans to tout the passage of the American Dream Downpayment Act (H.R. 1276) that will provide $5,000 each to low-income, first time home buyers. The bill, which was approved by the House by a voice vote, will provide $200 million in grant funds to help 40,000 low-income families with the down payment and expensive closing costs in buying a home.
Following the event, the Speaker released the following statement:
"As Speaker, I'm proud the U.S. House is passing this bill to help working families, like Mrs. Susie Dixon who joins us today. Essential to all families, like Susie's, is trying to achieve the American Dream of homeownership. This long overdue initiative provides assistance through $5,000 grants to low income, first-time homebuyers across the country to help with exceedingly difficult down payment and closing costs.
"While more than two-thirds of all Americans own their home, less than half of all African-American and Hispanic families do not. By passing this bill, the Republican House is working with President Bush to close this homeownership gap.
"Also very important is the fact that this bill will help construct 13,000 new homes. According to the Department of Housing and Urban Development, building these homes will create 33,000 new jobs - what a much-needed shot in the arm to our nation's economic recovery and improvement of our local communities. That's a win-win situation for minority homeowners and American workers.
"By passing the American Dream Down Payment Act, we will help empower every community. We will help lift up our African-American and Hispanic Communities. As House Republicans, we recognize the significance this initiative will have to help families already owning a home, but more importantly, how it will help close the homeownership gap for those still trying to achieve this part of the American Dream."
GOP touting creation of jobs via tax-payer monies. What a sorry state of affairs :(
"I owe my soul to the company store..."
Yeah at least Caeser built some outstanding aqueducts which still functioned into the 19th century with HIS public money, instead of plastic tract homes that will become run-down crack houses in ten years.
Homeowners are typically more involved in their communities.
The long term economic benifits are potentially huge, or would that be hugh?
In 1975 I purchased a home and received a $2k tax credit as part of a special incentive program designed to boost the housing industry. Fresh out of the Army, I could not hace afforded it w/o that.
Take a closer look, the housing industry is one of the main engines of our economy.
Course, I could be wrong....
I've known we were done for for quite a while. There's only one way to step up to the tyranny we are staring at. And the people don't have the courage, the brains, or the know how. Lenin, Satlin and Marx would be proud.
It's difficult to be happy in America and be all three. Now, can you make yourself male, white, ANGRY and ready to FIGHT? That's the kind of American we need. Smart is only half the battle, as G.I. Joe would say.
There will be no more conservatives in America. The succession is complete. Read your Communist Manifesto. They've got us right where they want us. And for anyone who wishes to respons by calling me a "nut", perhaps you should read the book "None Dare Call It A Conspiracy". That sums it up.
It isn't really about owning property. It's about the government having control and direct investment in our ownership of property. The chief goal of the Communist Movement is to strip all notion of private property from the proletariat and transfer it to the government. That's what the plan is. Call me crazy, but not until you've done your own research. Check the Communist Manifesto. Check the Naked Truth. Read "None Dare Call It A Conspiracy" and then start analyzing the stories you read based on what you've researched.
WHAT THE F#$% ????? I'm sitting here busting my chops sweating bullets on interest rates and buying a house and some scumbag representative is going to just give away FREE freakin $$$$$$ so minorities get what I just went through for FREE ?????????????????????
Let them pay for it with their blood sweat and tears like the REST OF THE US does !!!!!!!!
It very important to the government that you become a home debtor not a home owner. It makes people more passive and obedient. It also funnels money into Government Sponsored Mortgage cartels like Fannie and Freddie who in turn provide funding for Congress Critters to get re-elected.
You are, big time.
Apparently Hastert & Co. haven't bothered to check with Freddie Mac and Fannie Mae. Foreclosures on lower-income housing units are at an all time HIGH to the point they have to change the rules. Manufactured housing, touted as an alternative to low-income apartment rentals, is being slaughtered because so many are getting reposessed its hurting the NEW manufactured housing industry. To make matters worse, they don't pay the exhorbitant property taxes many homeowners do! In Michigan, they pay a paltry $50 year. Homeowners get soaked.
Habitat for Humanity, while well-intentioned, has a high foreclosure rate. To make matters worse, in the western states some minorities have been discovered stripping the houses for copper, fixtures, etc., to subsidize their alcoholism.
Buying a house is hard, expensive work, both before and AFTER the closing papers are signed.
Speaking of papers, I could've used that $5,000 to pay my $3200 damn closing fees on a house that will net the township a hefty tax windfall.
California's governor Davis just ran an ad with people applauding a $1 million+ purchase of land from developers with state money to "preserve it." - - LOL...and meanwhile the fair housing leagues (representing the "poor") are protesting high housing costs.