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                     Office of the Press Secretary
                       (Lincoln, Massachusetts)
For Immediate Release                                       June 5, 1998




HOME OWNERSHIP has always been the foundation of the American Dream. Generations of Americans have worked hard and set aside their savings so that they might enjoy the security and stability of owning their own home. The partnership forged between the Federal Government and the private sector during this century has succeeded in bringing that dream closer to reality for all our citizens.

The National Housing Act, which President Franklin Roosevelt signed into law more than 60 years ago, made HOME OWNERSHIP available to millions of families who previously could not have afforded to buy their own homes. The G.I. Bill of Rights extended the opportunity of HOME OWNERSHIP to a whole new generation of Americans, enabling millions of our service men and women to start a new life in their own homes.

Building on this legacy, in 1995 I convened the National Partners in HOME OWNERSHIP -- a coalition of 139 community-based local partnerships and 65 national groups representing the housing industry, lenders, nonprofit organizations, and all sectors of government -- to dramatically increase HOME OWNERSHIP opportunity in America. And my Administration's economic strategy to reduce the deficit, invest in our people, and open foreign markets has led to lower mortgage rates, more jobs, and higher family incomes. Thanks to the success of our strategy and the efforts of the National Partners in HOME OWNERSHIP, we now have the highest HOME OWNERSHIP rate in America's history.

Our Nation's commitment to HOME OWNERSHIP has brought us extraordinary rewards, invigorating the construction and related industries, creating new jobs, and enhancing our prosperity. The next generation of American homes will also improve our environment. The new partnership I recently launched with America's building industry -- the Partnership for Advancing Technology in Housing -- will dramatically improve the energy efficiency of new homes, reducing the greenhouse gases that cause global warming and cutting homeowners' energy bills. Most important, HOME OWNERSHIP has encouraged millions of Americans to save and invest, to take pride in their neighborhoods, and to take an active, responsible role in the life of their communities.

NOW, THEREFORE, I, WILLIAM J. CLINTON, 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 7 through June 13, 1998, as National HOME OWNERSHIP Week. I urge all Americans to observe this week with appropriate programs, ceremonies, and activities that celebrate the rewards of HOME OWNERSHIP.

IN WITNESS WHEREOF, I have hereunto set my hand this fifth day of June, in the year of our Lord nineteen hundred and ninety-eight, and of the Independence of the United States of America the two hundred and twenty-second.


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