George Bush was overwhelmingly the favorite candidate of real estate agents, mortgage bankers and brokers, and home developers according to the terms of campaign contributions.
The kea moment in housing police of Bush administration was an effort to increase homeownership among minorities. According to the homeownership plan announced in June 2002 minority ownership will reach 5.5 million families by 2010. The total homeownership’s number has increased by 1.6 million, due to a housing secretary Alphonso Jackson’s data.
Between 2002 and 2003 years the homeownership rate among African Americans has increased from 46.5 percent to 50 percent and the Hispanic homeownership rate has risen from 46.1 percent to 47.4 percent.
"One of the great statistics of the last couple of years is the homeownership rate is at an all-time high in America. We got a plan to continue homeownership in America. I love the fact when people from all walks of life can open up the door where they're living and say, Bush said in his speech in Holland, Mich.
Besides Bush signed the American Dream Downpayment Initiative in December 2004. The program will provide grants to low-income home buyers to pay their down payments and closing costs.
As a result Bush has raised $10.9 million from employees and political action committees of the real estate, home building, and mortgage industries while Kerry has raised those $2.9 million from those sectors, according to the Center for Responsive Politics information.