{"database": "press", "table": "releases", "rows": [["http://pearce.house.gov/editorial/new-mexicans-need-path-healthy-homeownership", "New Mexicans Need a Path to Healthy Homeownership", "2013-08-05", "2013", "2013-08", "Republican", "House", "NM", "Steve Pearce", "P000588", "pearce.house.gov", null, null, "legacy", "We want people to be able to buy homes.\u00a0 It\u2019s good for Americans, and it\u2019s good for the economy. Owning a home anchors a family, and helps to build a community.\u00a0 I got to where I am today because my parents took a chance and bought small place just outside Hobbs.\u00a0 They worked hard and were able to send us to college.\u00a0 But the system we have today puts that dream dangerously out of reach for many Americans, and it\u2019s at risk of being lost forever.\u00a0\nDuring the housing crash of 2008, home values plunged and taxpayers were stuck with a bill for the most expensive bailout in our country\u2019s history.\u00a0 New Mexico did not create the housing bubble or the financial crisis.\u00a0 We did not make the bad decisions that caused the crash\u2014those came from Wall Street and Washington.\u00a0 But New Mexico taxpayers were forced to pay for the homes of complete strangers in Manhattan and Miami.\u00a0 To this day, we\u2019re still feeling the effects of what started five years ago, especially when it comes home ownership.\u00a0 Today, fewer Americans own homes than at any point in the last 18 years.\u00a0 That\u2019s bad news for our economy, our communities, and our future.\nWhy are things so bad?\u00a0 If you\u2019ve tried to buy a house recently, you know about the overwhelming costs, regulations, barriers, and uncertainty that come with that.\u00a0 Right now, the federal government uses taxpayer money to back 9 out of 10 home loans\u2014already costing Americans nearly 200 billion dollars.\u00a0 This is not sustainable: it puts you on the hook every time somebody buys a house.\u00a0 And when they don\u2019t pay, you lose money.\u00a0 Instead, we need a solution that protects our small banks, our communities, and our ability to confidently own a home.\u00a0 We need a solution that benefits hard-working Americans\u2014by providing them the options, affordability, and flexibility they need when buying a home, and by investing their tax dollars wisely, instead of forcing them into a system that cannot succeed.\u00a0\nThe House Committee on Financial Services recently passed the Protecting American Taxpayers and Homeowners (PATH) Act of 2013.\u00a0 This bill provides key housing market reforms to protect both taxpayers and homeowners.\u00a0 The PATH Act provides commonsense solutions that keep New Mexico\u2019s small communities in mind, and put America on the path to a sustainable, stronger economy.\nI have worked closely with community bankers, realtors, homebuilders, credit unions, and mortgage brokers throughout southern New Mexico to make sure that this bill focuses on the needs of New Mexicans, not the needs of Washington lobbyists.\u00a0 Many community bankers support the legislation because it protects their ability to continue to serve New Mexico homeowners. Others appreciate the flexibility and rural focus included in the bill, such as options for conducting loans remotely or over the internet, without having to drive hours to a major bank.\u00a0\u00a0\u00a0\u00a0\nIn creating the PATH Act, we focused on fixing many of the problems currently facing the housing market.\u00a0 Change is necessary, but transition must be handled carefully, and must do no harm.\u00a0 Last year, when some in Congress wanted to take broad, immediate measures to change the markets, I worked hard to convince them to slow down and consider carefully.\u00a0 New Mexico is a small state with a small economy\u2014if we pulled out a primary source of home loans overnight, the results would be catastrophic, especially in our small, rural communities.\u00a0 All reforms must keep New Mexicans in mind, and no reform should hurt middle-class Americans.\nNow, the plan for reform has been revised, and it\u2019s a better plan for New Mexico.\u00a0 Under the proposed plan, transition will happen gradually, over the next five years, giving communities like Hobbs or Silver City the chance to keep up.\u00a0 Where the government does remain involved, clear focus and boundaries will be defined, to protect taxpayers\u2019 investments and help American families.\u00a0 Impact of other regulations will be examined and addressed, to make sure the big picture works.\u00a0\nI encourage you to get involved.\u00a0 Call your bank or credit union, your elected officials, and others to better understand how these laws affect you.\u00a0\u00a0 And when it comes to changes, make your voice heard, to make sure that your investments, your bank, and your community are protected.\nNew Mexicans should never have been forced to pay for the $200 billion housing bailout. Your money should be spent on your families, their needs, and their futures\u2014not houses for strangers.\u00a0 As the PATH Act moves to end an unstable system, investors will begin to gain confidence that another collapse isn\u2019t right around the corner.\u00a0 By working together, we can put our country back on the path to a stronger, healthier economic future, and keep the dream of home ownership within reach.", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["http://pearce.house.gov/editorial/new-mexicans-need-path-healthy-homeownership"], "units": {}, "query_ms": 2.3843420203775167, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}