9/24/2008
If you would like to have some indication of how we got into this mess, here is an excerpt form the 2004 republican platform:
Homeownership
Homeownership is central to the American dream, and Republicans want to make
it a reality for everyone. That starts with access to capital for entrepreneurs and access to
credit for consumers. Both have improved immensely in the past four years, resulting in
record levels of homeownership. For the first time, more than half of all minorities own
their home.
We support the President’s goal of increasing the number of minority
homeowners by at least 5.5 million families by the end of the decade. Since President
Bush announced his initiative in 2002, an additional 1.6 million minorities have become
homeowners. The Self-Help Homeownership Opportunities Program helps low-income
families purchase a home. The most significant barrier to homeownership is the down
payment. We support efforts to reduce that barrier, like the American Dream
Downpayment Act and Zero Downpayment Mortgages. The President and Congress have
taken action to provide counseling and education to help first-time homebuyers navigate
the process of buying a home.
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