Real Estate

President Trump declares June National Homeownership month

Expresses commitment to increase homeownership rate

In continuance of past tradition, President Donald Trump today declared June as National Homeownership month.

White House Press Secretary Sean Spicer tweeted out the president’s commitment to increasing the U.S. homeownership rate. 

The declaration starts off by explaining the importance of homeownership, saying it benefits the nation’s families and communities. It emphasizes that for many Americans, owning a home is essential to living the American Dream.

“In the years since the Great Recession, homeownership rates have dipped to historic lows,” the declaration states. “Many Americans are not confident they will ever own a home, a tragic consequence of a decade of weak economic growth, excessive regulations and stagnant wages.”

“Many young families are unable to achieve the independence they desire because they have difficulty saving for a down payment, overcoming regulatory burdens or gaining access to adequate credit,” the declaration continued. “These challenges are even more pronounced for minorities, whose homeownership rates remain substantially below those of their fellow Americans.”

The president vowed to help the middle class achieve homeownership, and said he is working with Congress on a pro-growth plan.

“These policies will unshackle our economy and create and sustain high-paying jobs so that more Americans have the resources and freedom they deserve to fulfill their American Dream.

The official White House also announced the president’s declaration on Twitter.

Recognition of homeownership began as a week-long celebration in 1995, and was later proclaimed to last the entire month of June in 2002 under former President George Buck, according to a blog from Freddie Mac.

So far, housing has fallen to the backburner as the Trump administration focuses on its tax plan and repealing and replacing Obamacare. However Treasury Secretary Steven Mnuchin says GSE reform will come in this administration, and Trump continues to move forward in his plans to roll back the Dodd-Frank Wall Street Reform Act and lessen regulations in the housing industry.

The president’s POTUS Twitter account does not reflect his deep commitment to homeownership, but instead shows a retweet about his declaration of June being the national Great Outdoors month.

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