Posted by j d ess 10 years ago
America's Home Ownership Challenge  
# Establish a national goal of at least 5.5 million new minority homeowners  
before the end of the decade.  
# Challenge the private sector real estate and mortgage finance industries to  
dramatically increase their efforts to reduce the barriers to homeownership faced  
by minority families and to work with the nonprofit sector in a concerted effort  
to achieve this goal through national and local partnerships.  
The Administration is intent on fostering a climate conducive to homeownership growth, and dismantling and eliminating the barriers faced by minority families is an integral part of this effort. As long as these barriers exist, homeownership levels for minority families will not be where they should be.
FoolProof: What are you getting at?
j d ess: Just reacting to the proliferation of links about the Community Reinvestment Act and Democratic culpability for current disaster. Using the same logic (i.e. that lending to poor people brought us to this place), one could just as easily say this Bush initiative was the source of it. Timing is about right.  
But pointing to the link, I hope that some may question the absurd simplicity of their argument.  
I believe everyone is to blame for the current disaster. Including and especially not limited to Democrats, Republicans, ratings agencies, mortgage originators, hedge funds, investment banks, realtors, lawyers, fannie, freddie, appraisers, inspectors, buyers, sellers, state and local government, developers, etc, etc, etc.  
See previous comments:  
But most importantly, this: