[Federal Register Volume 70, Number 103 (Tuesday, May 31, 2005)]
[Presidential Documents]
[Pages 31319-31320]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-10930]



[[Page 31317]]

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Part VI





The President





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Proclamation 7906--National Homeownership Month, 2005
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  Federal Register / Vol. 70, No. 103 / Tuesday, May 31, 2005 / 
Presidential Documents  

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 Title 3--
 The President

[[Page 31319]]

                Proclamation 7906 of May 25, 2005

                
National Homeownership Month, 2005

                By the President of the United States of America

                A Proclamation

                For millions of individuals and families, the American 
                Dream starts with owning a home. When families move 
                into a home of their own, they gain independence and 
                confidence, and their faith in the future grows. The 
                spread of ownership and opportunity helps give our 
                citizens a vital stake in the future of America and the 
                chance to realize the great promise of our country.

                From the earliest days of our Nation, homeownership has 
                embodied the core American values of individual 
                freedom, personal responsibility, and self-reliance. A 
                home provides children with a safe environment in which 
                to grow and learn. A home is also a tangible asset that 
                provides owners with borrowing power and allows our 
                citizens to build wealth that they can pass on to their 
                children and grandchildren.

                The benefits of homeownership extend to our 
                communities. Families who own their own homes have a 
                strong interest in maintaining the value of their 
                investments, the safety of their neighborhoods, and the 
                quality of their schools. Homeownership is also a 
                bedrock of the American economy, helping to increase 
                jobs, boost demand for goods and services, and build 
                prosperity.

                More Americans than ever own their own homes, but we 
                must continue to work hard so that every family has an 
                opportunity to realize the American Dream. In 2002, I 
                announced a goal to add 5.5 million new minority 
                homeowners by the end of the decade. Since then, we 
                have added 2.3 million new minority households. My 
                Administration has also set a goal of adding 7 million 
                new affordable homes to the market within the next 10 
                years. In my FY 2006 budget, I proposed a single family 
                housing tax credit and two mortgage programs--the Zero 
                Downpayment mortgage and the Payment Incentives 
                program--to help more families achieve homeownership. 
                In 2003, I signed the American Dream Downpayment Act, 
                and I have proposed more than $200 million to continue 
                the American Dream Downpayment Initiative to provide 
                downpayment assistance to thousands of American 
                families. By promoting initiatives such as financial 
                literacy, tax incentives for building affordable homes, 
                voucher programs, and Individual Development Accounts, 
                we are strengthening our communities and improving 
                citizens' lives.

                NOW, THEREFORE, I, GEORGE W. BUSH, President of the 
                United States of America, by virtue of the authority 
                vested in me by the Constitution and laws of the United 
                States, do hereby proclaim June 2005 as National 
                Homeownership Month. I call upon the people of the 
                United States to observe this month with appropriate 
                ceremonies and activities recognizing the importance of 
                homeownership.

[[Page 31320]]

                IN WITNESS WHEREOF, I have hereunto set my hand this 
                twenty-fifth day of May, in the year of our Lord two 
                thousand five, and of the Independence of the United 
                States of America the two hundred and twenty-ninth.

                    (Presidential Sig.)B

[FR Doc. 05-10930
Filed 5-27-05; 8:45 am]
Billing code 3195-01-P