[Congressional Record (Bound Edition), Volume 158 (2012), Part 2]
[House]
[Pages 2033-2034]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    HOUSING CRISIS FACING AMERICANS

  (Mr. COSTA asked and was given permission to address the House for 1

[[Page 2034]]

minute and to revise and extend his remarks.)
  Mr. COSTA. Madam Speaker, I rise today to talk about the housing 
crisis facing Americans. In California's San Joaquin Valley, we know 
firsthand the pain the housing crisis has caused our families and 
communities as foreclosure rates have continued to hover well above the 
national average.
  The $25 billion settlement announced last week gives significant 
relief to homeowners; but it's not the wholesale, systemic change 
necessary to put our housing market back on solid ground.
  Homeowners are tired of waiting for meaningful change, and tweaks are 
not enough. Enacting the HOME Act and a homeowner's bill of rights 
would go a long way toward stabilizing the market and leveling the 
playing field for the future. We know it's essential to get our economy 
back on track.
  Restoring economic security starts with passing meaningful policies 
that rebuild the foundation of our communities and the American home. 
After all, the American home is the single largest investment that the 
average American family makes in their lifetime. It's part and parcel 
of the American Dream and the foundation of America's middle class.

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