[Congressional Record Volume 154, Number 61 (Thursday, April 17, 2008)]
[House]
[Page H2469]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                             HOUSING CRISIS

  (Mr. HALL of New York asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. HALL of New York. Madam Speaker, we are in a housing crisis in 
the United States, yet the Bush administration seems determined to 
ignore it.
  Losing your home has a deep economic and emotional impact that can 
last for years. When the mortgage crisis broadens as wide as it has, 
entire communities, not just individuals, face dire consequences for 
the future.
  In the Hudson Valley of New York, we have been especially hard hit. 
Over the last 3 months, foreclosures in Westchester County were up 
almost 40 percent from last year, and they've more than tripled since 
2005. Putnam County, also in my district, has the single highest 
foreclosure rate of any county in New York State.
  This crisis demands bold action. This Congress has already expanded 
the Federal loan limits to make Federal protections available to more 
home buyers, now we need to extend these Federal guarantees to more 
homeowners in need. This Congress will not only protect institutions 
like Bear Stearns, but will also protect American families who remain 
at great risk.

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