Minority Homeownership At All-Time High

The overall homeownership rate of 67.7 percent tied the all-time record high. A total of 72.3 million American families owned their homes in the second quarter of this year - the most at any time in American history. The new 67.7 percent homeownership rate ties the previous all-time record set in the third quarter of 2000.The Bush Administration is proposing several initiatives to increase housing opportunities for all Americans, particularly minority families and those with special needs. For example, the President is proposing a $200 million American Dream Downpayment Fund and is expanding the Section 8 Homeownership Program to help low-income families overcome the initial costs of buying a home.