The Housing Crisis

THE HOUSING CRISIS -- (House of Representatives - May 21, 2008)

(Mr. HODES asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. HODES. Mr. Speaker, with nearly 8,000 foreclosures being filed daily, there is no question that Americans continue to fear losing their homes. In my home State of New Hampshire, it is predicted that nearly 4,300 families will lose their home by 2009.

This month, the House passed landmark housing legislation that will address the housing crisis directly, stabilize the housing market, and make a real difference for families at risk of losing their home. The bill will also help revitalize communities that have become vacant because of high housing foreclosure rates.

We are also working to provide relief to families struggling under the burden of higher gas prices and soaring costs for food and health care.

Mr. Speaker, we cannot fix our struggling economy until we address the housing crisis, but the Bush administration has ignored this growing problem for far too long.

I hope that President Bush and his allies will reconsider their opposition to our commonsense housing package so we can provide hope to the millions of Americans struggling in President Bush's recession.

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