Home Protection and Affordability Act – “ObamaHousing”

“That means that no matter how we reform the nation’s housing, we will keep this promise to the American people: If you like your home, you will be able to keep your home, period. If you like where you live, you’ll be able to live where you like to live, period. No one will take it away, no matter what.”

“America is facing a crisis in housing. Millions of Americans live in substandard homes. Millions do not live in houses at all but reside in cheap apartments and crummy condominiums. Millions more through no fault of their own have preexisting conditions and are routinely turned down and denied housing in our present broken system. This has become a terrible social cost that we all end up paying. We are spending, as a whole, over twenty percent of our GDP on housing nationwide. This is a horrible burden on the economy and is adding to the deficit. This is simply unacceptable. We need better than this. We can do better than this.

“Living in a home is a right and the millions without homes must have homes. This is both a moral obligation and a practical obligation. And this is why the Home Protection and Affordability Act is so vitally important. This legislation ensures that every American enjoys a good home at an affordable cost. It ensures that no one will live in substandard homes. It ensures that no one has to rely on the old broken Wild-West housing market that has run rampant robbing the nation of its GDP, adding to the nation’s deficit, and providing nothing but unsafe substandard housing.

“The Home Protection and Affordability Act will not only guarantee every American a safe home to live, it will bring down the housing costs for the nation and add to the economy by creating more jobs for the middle class. With this Act our housing will enter the 21st century and no Americans will ever find themselves out in the cold, broken by their housing costs, without proper home and shelter.”

Excerpt from President Barack Obama’s Ohio speech on ObamaHousing.

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