Newt Gingrich says the basis for the current mortgage crisis is a result of policies pursued by the Carter and Clinton administrations which pushed to allow every American to own a home. (0:45)
The negative effect on neighborhoods caused by vacant homes, foreclosed due to subprime mortgages, was discussed at a joint hearing of the House Domestic Policy Subcommittee and the House Housing and Community Opportunity Subcommittee. Support was expressed for HR 5818, a bipartisan bill that gives $15 billion to communities that have been devastated by increased housing vacancy; a bill President Bush has said he will veto. (more…)
