George Bush, May 2006:
Owning a home is an important part of the American dream. During National Homeownership Month, we raise awareness of homeownership and encourage more Americans to consider the benefits of owning their own home.But just because he says something doesn't mean it's true. George Bush's America, December 2006 via Reuters:
Nearly 70 percent of Americans enjoy the satisfaction of owning their own home, and my Administration continues to promote an ownership society where the promise of America reaches all our citizens.
A mortgage survey due on Wednesday is expected to show that more and more Americans are in danger of losing their homes. The quarterly report from the Mortgage Bankers Association is also expected to show that the same mortgage products that helped send the housing market into the stratosphere are now weighing homeowners down.This is becoming a very serious issue. Both Atrios and BondDad (who has been writing at DailyKos but is now starting his own blog) have written on the subject repeatedly and with expertise. Despite Bush's praise for home ownership, don't expect the President to do anything about it.
In a hint at Wednesday's data, October saw more foreclosure actions than any other month this year according to RealtyTrac, an online marketplace for foreclosure properties.
