WASHINGTON - The National Association of Home Builders (NAHB) applauded U.S. House of Representatives passage of S. 811, the "American Dream Downpayment Act," legislation that it says promotes housing affordability and increases rental and homeownership opportunities nationwide.
"This important housing bill, which cleared the Senate two weeks ago and will be signed into law shortly by President Bush, will spur badly needed apartment construction in such major markets as Boston, San Francisco, Los Angeles, Chicago, and New York. It will also help tens of thousands of working families to become new home owners," said Jerry Howard, executive vice president and CEO of NAHB.