- "Democratic presidential candidates are hustling massive new programs to close the “racial homeownership gap.”
Democratic California Sen. Kamala Harris is pushing a $100-billion program to assist up to 4 million minority families to purchase homes.
Democratic Massachusetts Sen. Elizabeth Warren proposed a bill that would spend $450 billion, including providing free down payments targeted to minority households.
...Former President George W. Bush proclaimed in 2002 that he would “use the mighty muscle of the federal government” to boost home ownership.
...Fannie Mae and Freddie Mac bought up bundles of subprime loans created by other companies, deadening the incentive for mortgage lenders to avoid reckless behavior.
...In mid-2008, Fannie and Freddie declared bankruptcy..."
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