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For Immediate Release
Office of the Press Secretary
March 15, 2004
Fact Sheet: Expanding Homeownership for All Americans
Background on Presidential Action
President Bush's initiative to dismantle the barriers to homeownership includes providing down payment assistance through the American Dream Downpayment Initiative; increasing the supply of affordable homes through the Single-Family Affordable Housing Tax Credit; increasing support for the Self-Help Homeownership Opportunities Program; and increasing home-buying education and counseling. In June 2002, President Bush issued America's Homeownership Challenge to the real estate and mortgage finance industries to encourage them to join the effort to close the gap that exists between the homeownership rates of minorities and non-minorities. The President also announced the goal of increasing the number of minority homeowners by at least 5.5 million families before the end of the decade.
As 2004 begins, America's economy is strong and getting stronger as a result of the President's pro-growth policies.