The President was at an AME Church in Atlanta recently to announce his new initiative to address the homeownership gap between white Americans and their minority counterparts. More than three-quarters of Anglo Americans own their own homes compared to less than half of African and Hispanic Americans. 

            The Congressional Black Caucus Foundation (CBCF) has been focused on this homeownership gap for some time.  In April 2000, we established the WOW program - With Ownership, Wealth - to help minority families realize the dream of homeownership.  This program set a goal of creating one million new minority homeowners by 2005 by addressing the common problems such as lacking a down payment and bad credit histories.  The WOW program is a partnership with giant mortgage investors Fannie Mae and Freddie Mac, major banks, mortgage companies and community groups to provide special-term mortgages to low-income borrowers, who are often not eligible for conventional loans. 

            The weekend before the President announced his initiative I was in Cleveland, Ohio at a CBC Foundation Housing Summit.  We spent the weekend promoting the WOW initiative and talking directly with mortgage lenders and potential borrowers about improving minority homeownership. 

            As immediate past Chairman of the Congressional Black Caucus, under whose Chairmanship this housing initiative was begun, I welcome the President's interest and involvement in this issue, and will work tirelessly with him and my colleagues in the Congress on both sides of the aisle to close this gap.  But there are other gaps that are just as prevalent and devastating to minority communities that also need his attention. 

There are huge health disparities in this nation, especially in rural areas and the South.  Blacks in South Carolina are far more likely to suffer from strokes, diabetes, heart disease and many forms of cancer than whites in this state.  These disparities were highlighted earlier this month when the CBC Political Education and Leadership Institute sponsored a joint Health and Environmental Justice Braintrusts Listening Session in Charleston.  This was the first of five Listening Sessions that will take place around the country to collect public input on the crisis in health and health care facing minorities.  Information collected from these sessions will be compiled in a report which we will publish in September next year, and which we hope will prompt legislative action where appropriate. 

            The President doesn't need to look any further than the 2000 Census to find that there are also significant income gaps between white and minority Americans.  This long-standing chasm is a major contributor to the other disparities I have mentioned.  Studies like the recent Miles to Go report confirm the obvious link between income levels and education performance.  But President Bush has recommended cuts in funding for such programs as the one seeking to bridge the digital divide, and help close the gap in technology between wealthy and poor school districts. 

            Addressing the homeownership gap is a good first step in tackling wide-ranging disparities between the races in this country.  I hope President Bush will enlist the energies and expertise of the 38 CBC members whose knowledge of, and familiarity with, these complex issues can be very helpful in finding solutions. These problems, which are prevalent in our districts, grew over time, and a passing interest will not yield lasting results.  The CBC remains committed to finding meaningful ways to close these gaps and eliminate these disparities.  I hope the President will follow up his timely speech with sincere and committed efforts.  There is much work to be done. 

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