Synopsis: Since 1995, the federal government has spent nearly $40 billion and provided trillions of dollars worth of insurance guarantees to lenders to promote homeownership, especially among communities of color. The infusion of money boosted homeownership rates slightly over the decades, but the ongoing national foreclosure crisis is wiping out all of those gains.
Timeline of homeownership promotion ---
1995
President Bill Clinton's National Homeownership Strategy aimed to create 8 million new homeowners by 2000 through an "unprecedented collaboration of private and public housing industry
