Remarks on the National Homeownership Strategy

Weekly Compilation of Presidential Documents, June 12, 1995

June 5, 1995

Look at it this way, Jean, all your other speeches will be easier now. [Laughter] You did very well, and I thank you and Jim for coming.

Ladies and gentlemen, I have looked forward to this day for a long time, and I care a lot about this issue. I'm glad to see so many distinguished Americans here. I welcome Congressman Bono who was, before he became a Congressman, a mayor and, therefore, has an intimate personal experience with this whole issue. And I'm, of course, delighted to see my good friend Millard Fuller here who has done as much to make the dream of homeownership a reality in our country and throughout the world as any living person. And we thank you, sir, for your work.

Before I get into my remarks, I think it's important for me to make a brief reference to another subject. Congress is coming back to work today after a break, and the antiterrorism bill that I sent to Congress is being considered in the Senate. It will give law enforcement the tools it needs to crack down on terrorists that they, people in law enforcement, asked me to seek from Congress, first, a couple of months before the Oklahoma City tragedy, to deal especially with the problems of international terrorism coming in to the United States, and then some more things that were asked for in the wake of Oklahoma City.

This is very, very serious legislation. The Congress not only has the right, it has the responsibility to review the bill and to hear those who think that in some ways its law enforcement provisions are too tough. There ought to be a full debate. But we cannot afford to let scores of unnecessary amendments drag down this process. In that I agree with the statements made by the majority leader of the Senate, Senator Dole. So, I call upon my fellow Democrats and Republicans to limit amendments, curb politics, ignore narrow interests, to agree to the simple pact that there should be no excuses, no games, no delays. The time is now to enact this important legislation.

You can be sure that terrorists around the world are not delaying their plans while we delay the passage of this bill. It is within our reach now to dramatically strengthen our law enforcement capabilities and to enhance the ability of people in law enforcement to protect all kinds of Americans. We have an obligation to do that. And so I would urge the Congress to take this bill up and to get on with it, to limit the number of amendments as soon as possible so that we can go forward.

Now, let me get back to the subject at hand. I am delighted to be here. You might ask why do I care about homeownership? After all I live in America's finest public housing. [Laughter] The answer is I once had a life, and I hope to have one again some day. [Laughter] When I was 19, I built a home as part of what I did that summer.

When I was trying to coax my wife into marrying me, we were both living in Fayetteville, Arkansas, teaching at the University of Arkansas, and I had not gotten a definite answer. I think that's the most delicate way I can put this. [Laughter] And Hillary had to go away to somewhere--I can't remember where she was going now. But anyway she was taking a trip on an airplane, so I was driving her to the airport. And we drove by this wonderful old house. It was an old, old, very small house, and she said, "Boy, that's a beautiful house." And I noticed that there was a little for sale sign on it. So, I took her to the airport, went back and bought the house. And when she came home after the trip, I drove by the house. I said, "See that house you liked. I bought it while you were gone. Now you have to marry me." [Laughter] And it worked, 20 years ago this fall it worked. Most people do it the other way around, but you know. [Laughter]

I still remember that home cost $20,500. It had about 1,100 square feet, and I had about a $17,500 mortgage on it, and my payments were about $176 a month, as I remember, something like that. And that was 20 years ago this fall that I signed that fortuitous contract. Those prices aren't very much available anymore, but the objective for young people with their futures before them and their dreams fresh in their minds, starting out their families, to be able to own their home and to start a family in that way, that's a worthy objective. Just as worthy today, and I would argue to you more important today than it was 20 years ago--more important today than it was 20 years ago.

We just had a report come out last week asserting that it may be that up to one-third of our children are now born out of wedlock. You want to reinforce family values in America, encourage two-parent households, get people to stay home? Make it easy for people to own their own homes and enjoy the rewards of family life and see their work rewarded. This is a big deal. This is about more than money and sticks and boards and windows. This is about the way we live as a people and what kind of society we're going to have. And I cannot say enough in terms of my appreciation to Secretary Cisneros, who is a genuine visionary, to the Vice President for all the work he and the National Performance Review have done on this, and to all of our partners who are here, all the people in public and private life whose work is homeownership.