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Home Front Economy |
Bill Clinton's drive to increase homeownership went way too far - Bubba Bubble |
2008-10-10 |
FROM THE OFFICE OF PUBLIC AFFAIRS April 19, 2000 LS-564 TREASURY DEPARTMENT RELEASES CRA STUDY The U.S. Treasury Department released a report on Wednesday detailing lending to low- and moderate-income borrowers and low- and moderate-income communities covered by the Community Reinvestment Act. The study found that such lending rose significantly, totaling more than $600 billion between 1993 and 1998. The First Lady likes to say it takes a village to raise a child, at Treasury we say it takes capital to build a village," said Treasury Secretary Lawrence H. Summers. "This study is further evidence that a strong Community Reinvestment Act is critical to ensuring that all neighborhoods are part of our national economic prosperity." The study focused on lending trends in 305 U.S. cities between 1993 and 1998. Highlights include: Does the name Henry Cisneros ring a bell? - $467 billion in mortgage credit flowed from CRA-covered lenders to CRA-eligible borrowers.. The study also found that from 1996 to 1998, the first three years these data were collected, lending by CRA-covered institutions to small businesses located in low- and moderate-income communities averaged $33 billion annually. In addition, community development lending by these institutions averaged $17 billion annually. Link to Business Week Article Feb 2008 |
Posted by:GolfBravoUSMC |
#4 You bought your house just to get a roof over your head? How un-American! |
Posted by: Anguper Hupomosing9418 2008-10-10 17:54 |
#3 Interesting that they don't seem to notice the skyrocketing rate of inflation in housing costs during those same years. Good thing for me I bought in 1994. I couldn't afford it now. Everybody tells me how I made a huge amount of money but it does me no good because if I sold the place to get the money out of it I'd have to turn around and sink it all into another place. It's nuts. I didn't buy it as an investment. I bought it because I needed a roof over my head. My opinion is it's a bad mistake to bail out borrowers or lenders because this market needs a serious correction. |
Posted by: Ebbang Uluque6305 2008-10-10 17:31 |
#2 Did you read this carefully, Clineth Gonque1423 dear? |
Posted by: trailing wife 2008-10-10 12:11 |
#1 The National Homeownership Strategy material was removed from the HUD web site in 2007. |
Posted by: GolfBravoUSMC 2008-10-10 11:50 |