[Weekly Compilation of Presidential Documents Volume 34, Number 43 (Monday, October 26, 1998)]
[Pages 2092-2093]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the National Rate of Homeownership

October 22, 1998

    This morning the Census Bureau released fresh evidence that our 
strong economy continues to widen the circle of opportunity to more 
American families. Last quarter the national homeownership rate reached 
another record high. For the first time in history, more than two-thirds 
of American families own their own homes. Since I took office, 7.4 
million families have become homeowners. I am especially pleased that 
these gains are being shared broadly, with African-American and Hispanic 
homeownership climbing even more rapidly than the overall rate.

[[Page 2093]]

    Six years ago I put in place an economic strategy, which helped 
produce a cycle of lower deficits, lower interest rates, stronger 
investment, higher incomes, and greater confidence. That virtuous cycle 
opened the door of homeownership to millions of Americans. Now the 
challenge is to keep our economy strong--which is why we must continue 
to maintain fiscal discipline, invest in our people, and lead the global 
economy. I will continue to work hard to take the steps necessary to 
make the dream of homeownership a reality for more Americans.