europeans all the same? ( Archived) (75)

rizlared: I love Hungarian Goulash, one of the best European meals ever.

galrads: you may be somewhat correct. Bill clinton created the chaos that burst and upset everything in 2008, but it's now 8-years later and our POTUS and the Fed still only care about the banks.
I think the USA we'd would be better off w/o the present Fed and it's mandatory federal income tax to pay interests on money it loans to banks.

raphael119: You confused Bill with George ?! The Fed is the Country Club of big banks- thought u new that. Banks and corporations are holding huge sums of cash because they dont want to risk it in loans and expansion.

pedro27: its like lobbing south america and america together as the same breed

galrads: Clinton is just another false messiah like Obama....

'Clinton's administration went to ridiculous lengths to increase the national homeownership rate. It promoted paper-thin downpayments and pushed for ways to get lenders to give mortgage loans to first-time buyers with shaky financing and incomes.

It’s clear now that the erosion of lending standards pushed prices up by increasing demand, and later led to waves of defaults by people who never should have bought a home in the first place.'

purr4mance: Expanding Home Ownership

"This Administration will constantly strive to promote an ownership society in America. We want more people owning their own home. It is in our national interest that more people own their own home. After all, if you own your own home, you have a vital stake in the future of our country."

- President George W. Bush, December 16, 2003

The Accomplishments

Increasing Homeownership

The US homeownership rate reached a record 69.2 percent in the second quarter of 2004. The number of homeowners in the United States reached 73.4 million, the most ever. And for the first time, the majority of minority Americans own their own homes.
The President set a goal to increase the number of minority homeowners by 5.5 million families by the end of the decade. Through his homeownership challenge, the President called on the private sector to help in this effort. More than two dozen companies and organizations have made commitments to increase minority homeownership - including pledges to provide more than $1.1 trillion in mortgage purchases for minority homebuyers this decade.
President Bush signed the $200 million-per-year American Dream Downpayment Act which will help approximately 40,000 families each year with their downpayment and closing costs.
The Administration proposed the Zero-Downpayment Initiative to allow the Federal Housing Administration to insure mortgages for first-time homebuyers without a downpayment. Projections indicate this could generate over 150,000 new homeowners in the first year alone.
President Bush proposed a new Single Family Affordable Housing Tax Credit to increase the supply of affordable homes.
The President has proposed to more than double funding for the Self-Help Homeownership Opportunity Program (SHOP), where government and non-profit organizations work closely together to increase homeownership opportunities.
The President proposed $2.7 billion in USDA home loan guarantees to support rural homeownership and $1.1 billion in direct loans for low-income borrowers unable to secure a mortgage through a conventional lender. These loans are expected to provide 42,800 homeownership opportunities to rural families across America.