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.
