Renewing Call for DPA Ban's End as Pending Sales Drop

One supporter of seller-funded downpayment assistance programs believes the recent decline in pending home sales to an all-time low is further evidence of housing market woes that reflect a need for federal officials to reauthorize the use of such programs in conjunction with government loans. Ann Ashburn, president of AmeriDream Inc, Gaithersburg, Md., went so far as to say, "our housing market and our economy depend" on Congress restoring seller-funded DPA programs. "The next generation of qualified homeowners has little incentive to enter the market, particularly after DPA programs expired last fall. DPA is a common sense approach to getting responsible, creditworthy homebuyers off the sidelines and into homes without costing the taxpayer a dime. DPA is also recognized as a logical means to directly help Main Street Americans while stimulating the broader economy. President-elect Obama was right when he said we need to move beyond the stale arguments that say low-income Americans shouldn't even try to own a home," Ms. Ashburn said.