REAL ESTATE

Administration Boosts Home Ownership: Before an audience of young, first-time home buyers, President Clinton outlined Administration efforts to make it easier for Americans to buy homes. “We’ll make home ownership more accessible,” Clinton said in a White House ceremony. The Administration’s program is built around a coalition of government entities and banking, real estate and construction groups formed to simplify mortgage procedures and reduce closing costs. Since 1980, home ownership has declined from 65% of all households to about 64%. The Administration’s goal is to increase home ownership by the end of the decade by about 8 million units, to 67.5%. The strategy does not create any new government programs nor require federal money.