Presidential Document2024-12485
National Homeownership Month, 2024
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 5, 2024
Signed
May 31, 2024
Issuing agencies
Executive Office of the President
Full Text
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<title>Federal Register, Volume 89 Issue 109 (Wednesday, June 5, 2024)</title>
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[Federal Register Volume 89, Number 109 (Wednesday, June 5, 2024)]
[Presidential Documents]
[Pages 48229-48230]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-12485]
Presidential Documents
Federal Register / Vol. 89, No. 109 / Wednesday, June 5, 2024 /
Presidential Documents
[[Page 48229]]
Proclamation 10769 of May 31, 2024
National Homeownership Month, 2024
By the President of the United States of America
A Proclamation
Owning a home is about more than putting a roof over
your family's head--it is part of the American Dream.
For generations, it has been a pathway to the middle
class, an opportunity to build community and to pass
down wealth to your children. But too many Americans
today still struggle to buy a home. This National
Homeownership Month, we recommit to giving every
American a fair shot at that dream.
Whether they rent or buy, Americans deserve a safe
place to call home. That is why when I signed the
American Rescue Plan during the pandemic, we made sure
it kept six million families in their homes by
preventing foreclosures and evictions. Today, we are
seeing fewer foreclosures than at any time in decades;
and more people own homes now than did before the
pandemic. But we have more to do.
My Administration is delivering on the most
consequential housing plan in more than 50 years,
lowering costs now and for the future. We have already
saved approximately 850,000 homeowners $800 per year
with Federal Housing Authority (FHA) mortgages. We are
providing financial assistance to help homeowners
repair and upgrade their homes, by doing things like
removing toxic lead pipes. Through my Inflation
Reduction Act--the largest climate bill in history--we
are lowering families' utility costs by helping them
make their homes more modern, energy-efficient, and
climate-resilient. The Department of Housing and Urban
Development (HUD) is helping Americans to access
resources that help avoid foreclosure and eviction and
that promote homeownership, financial literacy, and
financial planning.
For new homeowners, my plan proposes a tax credit of
$5,000 per year for the next 2 years for any family
earning under $200,000--money they can put toward a
mortgage when they buy their first home or trade up for
more space. My plan would also provide first-generation
homebuyers with $25,000 for a down payment. The Federal
Housing Finance Agency is running a pilot program to
make it more affordable to refinance your home by
eliminating title insurance fees on certain federally
backed mortgages, which would save folks $1,500 at
closing. The FHA is now considering positive rental
history when making decisions about creditworthiness--
ensuring that the people who could qualify for mortgage
financing receive it. We are also working to advance
fair housing, including by rooting out bias in the home
appraisal process, which keeps too many Black and Brown
families from enjoying the full financial returns of
homeownership.
To ensure affordable housing is available long-term, we
also have to increase supply--and that means building
new homes. With help from the Congress, my
Administration has cut red tape so more builders can
get Federal financing for new projects. Thanks in part
to these efforts, a record 1.7 million new housing
units are now under construction nationwide. My new
plan would build two million more affordable homes,
including 400,000 that would be for-sale, rather than
for rent, through the creation of the Neighborhood
Homes Tax Credit. My Administration is also making it
easier for communities to use Federal financing to
build and renovate, or convert spaces like empty
offices or hotels into housing.
[[Page 48230]]
Across the country, Americans are today writing one of
the greatest comeback stories ever told. Not only are
we getting shovels in the ground and building homes for
the next generation, but we are also seeing more people
buy homes for the first time--taking that next step
toward long-term security for themselves and their
families. Today, more folks can feel that pride of
getting their first home, pride in settling down with
their families in a new home, pride in our communities
and pride in America. We are going to keep creating
those new cycles of hope.
NOW, THEREFORE, I, JOSEPH R. BIDEN JR., President of
the United States of America, by virtue of the
authority vested in me by the Constitution and the laws
of the United States, do hereby proclaim June 2024 as
National Homeownership Month. I call upon the people of
this Nation to safeguard the American Dream by ensuring
that everyone has access to an affordable home in a
community of their choice.
IN WITNESS WHEREOF, I have hereunto set my hand this
thirty-first day of May, in the year of our Lord two
thousand twenty-four, and of the Independence of the
United States of America the two hundred and forty-
eighth.
<GRAPHIC(S) NOT AVAILABLE IN TIFF FORMAT>
(Presidential Sig.)
[FR Doc. 2024-12485
Filed 6-4-24; 11:15 am]
Billing code 3395-F4-P
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</html>Indexed from Federal Register on June 5, 2024.
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