Here is The National Homeownership Strategy by President Clinton
The National Homeownership Strategy:
Partners in the American Dream
U.S. Department of Housing and Urban Development
MAY 1995
The White House Washington May 2, 1995
Message from the President
Our nation's greatest promise has always been the chance to build a better
life. For millions of America's working families throughout our history,
owning a home has come to symbolize the realization of the American
Dream. Yet sadly, in the 1980s, it became much harder for many young
families to buy their first home, and our national homeownership rate
declined for the first time in forty-six years. Our Administration is
determined to reverse this trend, and we are committed to ensuring that
working families can once again discover the joys of owning a home.
This past year, I directed HUD Secretary Henry G. Cisneros to work with
leaders in the housing industry, with nonprofit organizations, and with
leaders at every level of government to develop a plan to boost
homeownership in America to an all-time high by the end of this century.
The National Homeownership Strategy: Partners in the American Dream
outlines a substantive, detailed plan to reach this goal. This report
identifies specific actions that the federal government, its partners in state
and local government, the private, nonprofit community, and private
industry will take to lower barriers that prevent American families from
becoming homeowners. Working together, we can add as many as eight
million new families to America's homeownership rolls by the year 2000.
Expanding homeownership will strengthen our nation's families and
communities, strengthen our economy, and expand this country's great
middle class. Rekindling the dream of homeownership for America's
working families can prepare our nation to embrace the rich possibilities of
the twenty-first century.
Bill Clinton
2
Foreword
I am honored to present The National Homeownership Strategy for the
consideration of the American people. The strategy was prepared in
response to a request from President Clinton. On Nov. 5, 1994, the
President called for a national effort to lift America's homeownership rate to
an all-time high by the end of the century. He directed me to develop a
National Homeownership Strategy to reach this goal and to form a national
partnership of the private, public, and community sectors to carry out the
strategy.
Homeownership is the American dream, but the dream has been fading
since 1980, when the national homeownership rate slipped into decline
after 46 years of steady growth. Although the homeownership rate has
risen over the past 2 years, it is still well below its historic peak. Reviving
the trend toward greater homeownership is vital to our Nation's families,
communities, and economic prosperity.
The goal of this strategy is ambitious: to generate up to 8 million additional
homeowners from 1995 through the year 2000. The strategy recommends
a series of concerted actions to help middle-income and low- income
families, racial and ethnic minorities, families with children, and young
adults overcome current barriers to homeownership. These actions will be
undertaken by private industry, national nonprofit organizations, nonprofit
community groups, and Federal, State, and local governments working in
cooperation at the national, State, and local levels.
Working as partners in this way, we can translate strategy into
achievement, making the dream of homeownership a reality for millions of
hard-working people and building a better future for all Americans.
Henry G. Cisneros Secretary of Housing and Urban Development
3
The National Homeownership Strategy:
Partners in the American Dream
Table of Contents
Message from the President
Foreword
Chapter 1: The National Homeownership Strategy
Purpose
Why Homeownership?
Background
Strategy Themes
Shared Approaches
National Homeownership Goals
Next Steps
Summary of the National Homeownership Strategy Content
National Homeownership Strategy: List of Proposed Actions
Production
Financing
Building Communities
Opening Markets
Homeownership Education and Counseling
Raising Awareness
Chapter 2: Partnership Structure
4
Partnership Agreements
National Partners in Homeownership
Local Partnerships
The National Homeownership Strategy: Partners in the American Dream
Chapter 3: Production
Overview Key Principles Strategies Reduce Regulatory Barriers to
Affordable Homeownership
Action 1: Assessing Regulatory Impacts on Affordable Homeownership
Action 2: Modernizing Planning, Zoning, and Subdivision Laws
Action 3: Education and Technical Assistance for Regulatory Reform
Action 4: Consensus Building and Mediation Techniques for Affordable
Homeownership
Action 5: Statewide Standards for Impact Fees
Action 6: Models of Regulatory Flexibility and Development Controls
Action 7: Expanded Research on Regulatory Reform
Action 8: Building Code Reform Expand the Supply of Starter Homes
Action 9: Education and Outreach for Higher Density Home Construction
Action 10: Fast-Track Administrative Review Procedures for Starter
Homes
Action 11: Removing Barriers to Mortgage Financing for Starter Homes
Action 12: Stock Plans and Guidance Materials for Starter Homes
Eliminate Barriers to Cost-Effective Home Rehabilitation
Action 13: Flexible Regulations to Accommodate Home Rehabilitation
5
Action 14: Home Rehabilitation Research
Action 15: Technical Evaluation and Guidance Materials for Energy
Conservation Stimulate Technological Innovation in Homebuilding
Action 16: Affordable Home Technology Program Assistance for
Innovative Technologies
Action 17: Information, Training, and Technical Assistance for Innovative
Technologies
Action 18: Affordable Home Design and Construction Awards
Action 19: Stock Plans for Building Affordable Homes
Action 20: Enhanced Homebuilding Product Evaluation
Action 21: HUD Technical Evaluations of Homebuilding Products
Action 22: Research on Technological Innovation for Affordable Homes
Eliminate Regulatory and Financing Barriers to the Availability of
Manufactured Housing
Action 23: Regulatory Review of Manufactured Homes
Action 24: State Participation in Manufactured Homes
Action 25: Cooperative Research for Manufactured Homes
Action 26: Manufactured Home Industry Initiatives
Action 27: Zoning and Land Development Reform for Manufactured
Homes
Action 28: Access to Financing for Manufactured Homes
Chapter 4: Financing
Overview Key Principles Strategies Cut Transaction Costs
Action 29: Alternative Approaches to Homebuying Transactions
Action 30: Technological Improvements in Mortgage Financing
6
Action 31: Lender Processing Time Reductions
Action 32: Standardize Homebuying Settlement Procedures
Action 33: Bulk Purchase of Homebuying Settlement Services
Action 34: Local Government Development Fees and Homeownership
Trust Funds Reduce Downpayment and Mortgage Costs
Action 35: Home Mortgage Loan-to-Value Flexibility
Action 36: Subsidies to Reduce Downpayment and Mortgage Costs
Action 37: IRAs and 401(k)s for Homeownership Downpayments
Action 38: Savings Plans for Homeownership
Action 39: Mortgage Options and Homebuyer Education
Action 40: Home Mortgage Foreclosure Requirements Increase
Availability of Financing
Action 41: Home Purchase and Rehabilitation Financing With FHA
203(k)
Action 42: Conventional Financing for Home Purchase and Rehabilitation
Action 43: Home Rehabilitation Financing
Action 44: Flexible Mortgage Underwriting Criteria
Action 45: Public-Private Leveraging for Affordable Home Financing
Action 46: Reinventing FHA Single-Family Home Mortgage Insurance
Action 47: Native American Home Financing Needs
Action 48: Small Rental Properties to Support Affordable
Homeownership
Action 49: Continuation of the Mortgage Revenue Bond Program and
Mortgage Credit Certificates
7
Action 50: Energy Efficiency and Home Mortgage Underwriting
Action 51: Cooperative Homeownership
Chapter 5: Building Communities
Overview Key Principles Strategies Build Local Capacity.
Action 52: Homeownership Education and Technical Assistance for
Communities
Action 53: Spotlight on Successful Local Partnerships Expand
Homeownership Opportunities in Areas of Employment
Action 54: Employer-Assisted Homeownership
Action 55: Location-Efficient Home Mortgages Revitalize Distressed and
Declining Urban Neighborhoods
Action 56: Comprehensive Community Revitalization
Action 57: Homeownership Zones
Action 58: Federal and State Resources for Affordable Homeownership
Action 59: Promoting Mixed-Income Neighborhoods
Action 60: Redeveloping Vacant Properties Increase Opportunities for
Homeownership in Rural Areas
Action 61: Mortgage Credit for Rural Areas
Action 62: Rural Home Financing Demonstration Program
Action 63: Expanding Rural Home Financing
Action 64: Homeownership Capacity Building in Rural Areas
Action 65: Rehabilitating Rural Homes
Action 66: Homeownership Opportunities for Native Americans
Chapter 6: Opening Markets
8
Overview Key Principles Strategies Promote Fair Housing
Action 67: The President's Fair Housing Council
Action 68: Voluntary Fair Housing Self-Enforcement and Affirmative
Marketing by Homeownership Industry Organizations
Action 69: Metropolitan Regional Fair Housing Initiatives Promote Fair
Lending and Insurance
Action 70: Voluntary Self-Enforcement and Affirmative Marketing by
Mortgage Lending and Homeowners Insurance Industry
Organizations
Action 71: Access to Home Mortgage Lending Data
Action 72: Research on Fair Lending and Insurance Issues Increase
Diversity in the Homeownership Delivery System
Action 73: Market Review of Underserved Groups and Communities
Action 74: Workplace Diversity in Hiring and Promotion
Action 75: Research on the Homeownership Impacts of Diversity
Action 76: Mentoring Minority-Owned Homeownership Businesses
Increase Outreach to Underserved Groups
Action 77: Marketing Homeownership Products and Programs in Foreign
Languages
Action 78: Tailoring Home Design and Construction to Diverse
Populations
Action 79: Homeownership Models That Work
Action 80: "One-Stop" Home Financing Catalogue
Chapter 7: Homeownership Education and Counseling
Overview Key Principles Strategies Improve the Quality, Consistency,
and Effectiveness of Homeownership Education and Counseling Efforts
9
Action 81: National Institute for Homeownership Education and
Counseling
Action 82: Federal Efforts to Build Local Homeownership Counseling
Capacity
Action 83: Research on Homeownership Education and Counseling
Action 84: Clearinghouse for Homeownership Education and Counseling
Action 85: Curriculum Development for Homeownership Education and
Counseling
Action 86: Training and Accreditation for Homeownership Education and
Counseling
Action 87: Cultural Sensitivity and Diversity in Homeownership Education
and Counseling
Action 88: Education on Alternative Forms of Homeownership Develop a
Steady Stream of Funding For Homeownership Counseling
Providers
Action 89: Task Force on Long-Term Funding of Homeownership
Counseling
Action 90: Nonprofit Business Planning for Homeownership Counseling
Organizations
Action 91: HUD Allocation of Counseling Funds Enhance Coordination of
Local Efforts
Action 92: Showcasing Successful Collaborative Homeownership
Counseling Programs
Action 93: Local Homeownership Counseling Roundtables
Chapter 8: Raising Awareness
Overview Key Principles Strategies Increase Homeownership Awareness
Through Public Outreach
10
Action 94: Publicizing Homeownership Opportunities and Achievements
Action 95: Homeownership Site Visits
Action 96: Successful Transitions to Homeownership Expand
Homeownership Opportunities Through Education Initiatives
Action 97: Homeownership Educational Centers and Special Events
Action 98: Educating Homebuyers and Homeowners Through
Technology and the Media
Action 99: Homebuyer Access to Government-Owned Homes
Action 100: Research Networks and Information Clearinghouses on
Homeownership Data
Replies