Remember housing crisis, NAHB says
The National Association of Home Builders wants help for struggling homeowners in any Wall Street aid package.
As Congress and the president consider spending more than $700 billion to bail out the ailing financial industry, the NAHB wants lawmakers to remember the country’s homeowners.
"The National Association of Home Builders applauds the Bush Administration, Federal Reserve and Congress for moving quickly to stem the ongoing financial crisis,” said Jerry Howard, executive vice president and CEO of the National Association of Home Builders. “Policymakers realize the root causes -- falling home prices, mounting foreclosures and a frozen credit market -- must be addressed now.
"The plan being developed must get to the heart of the problem to successfully stabilize mortgage markets and home prices and restore confidence in global financial markets,” Howard said. “Ensuring that credit-worthy home buyers, builders and other small businesses have access to credit is absolutely essential to putting this economy back on track.”
President George W. Bush and congressional Democratic leaders have agreed the final bill should include help for the nation’s many struggling homeowners facing foreclosure, but significant differences over the plans remain.
As Congress and the president consider spending more than $700 billion to bail out the ailing financial industry, the NAHB wants lawmakers to remember the country’s homeowners.
"The National Association of Home Builders applauds the Bush Administration, Federal Reserve and Congress for moving quickly to stem the ongoing financial crisis,” said Jerry Howard, executive vice president and CEO of the National Association of Home Builders. “Policymakers realize the root causes -- falling home prices, mounting foreclosures and a frozen credit market -- must be addressed now.
"The plan being developed must get to the heart of the problem to successfully stabilize mortgage markets and home prices and restore confidence in global financial markets,” Howard said. “Ensuring that credit-worthy home buyers, builders and other small businesses have access to credit is absolutely essential to putting this economy back on track.”
President George W. Bush and congressional Democratic leaders have agreed the final bill should include help for the nation’s many struggling homeowners facing foreclosure, but significant differences over the plans remain.
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