Los Angeles, CA– At a recent community event to educate Californians about homeownership, Congresswoman Maxine Waters (CA-43) spoke to hundreds about the importance of responsibly owning a home, and discussed the wide array of federal, state and local resources available for those looking to buy or refinance a home.
Waters delivered the remarks at the Korean Churches for Community Development’s (KCCD) 13th Annual Homeownership Fair. The annual event provides the community access to valuable resources on how to navigate the home purchase process, understand the current housing market, and learn more about the local and federal assistance available to existing homeowners.
In Congress, Waters serves as the Ranking Member of the Financial Services Committee, which has jurisdiction over all components of the nation’s housing and financial services sectors, including real estate, public and assisted housing, and consumer protection laws.
As the top House Democrat on housing issues, Waters was asked to open the Fair. In addition to discussing federal purchase and refinance resources currently available, Waters’ remarks touched on the state of California’s housing market following the severity of 2008 foreclosure crisis.
“Owning a home is the cornerstone of the American Dream. And I believe all Americans should have the opportunity to purchase a home or affordably rent one, by providing them access to the resources, tools and information necessary to ensure that goal can be achieved,” Waters said at the event. “Following the 2008 financial and housing crisis, the Dream of homeownership was threatened for many in our community. Although the foreclosure rate in our area has improved, there remains much more work to do. But I still believe in the power of homeownership, because owning a home can still be one of the best ways for families to build wealth, when it is done responsibly.”
Waters’ also discussed the actions she and her fellow Democrats have taken to address the causes of the foreclosure crisis and jumpstart lending so that more families can experience the dream of homeownership in a sustainable manner. The Homeownership Fair took place on August 16 and was held at the Wilshire United Methodist Church in Los Angeles. KCCD is a non-profit faith-based organization whose mission is to advance the Asian-American community’s participation, contribution, and influence through faith-based and community partnerships.