Donovan said he and thernpresident have both been consistent about promoting the need for a morernbalanced housing policy.  “For toornlong, our focus at the federal level was only on homeownership to the exclusionrnof rental. Homeownership is important, and we are going to continue to make surernfolks have access to homeownership, but we need to make sure that we haverndecent, affordable rental housing in this country as well.”  </p

The Secretary was speakingrnfrom New Orleans where he was attending observances marking the fifthrnanniversary of Hurricane Katrina.  Hernpointed to the 40,000 families who were in FEMA trailers at the beginning ofrnhis administration and now are mostly in permanent housing.  This, he said, is a perfect example of thernAdministration’s approach.  “We havernbeen focused on making sure the public housing residents can get back in theirrnhomes. That’s why today there are more federally assisted rental units in NewrnOrleans than there were before the storm. And so we’re going to continue tornfocus on having a truly balanced housing policy in the country. </p

He said that a house may nornlonger be a homeowner’s piggy bank it was in the past but it is too early tornsay whether home prices will now rise only in step with inflation.  The key is “we’ve got to get back tornbasics on homeownership.  We’ve got tornhave decent, safe, smart loans that help families not just get into a home butrnstay in a home. And look, the issue here is families can choose homeownership.rnThey ought to be able to choose homeownership, but if they do that, they oughtrnto get it with a safe mortgage loan that will keep them in that home long term.”rn</p<prnrnrnrnrnrnrn

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