Vilsack ties rural quality of life to homeownership

The USDA has tried to encourage homeownership in rural areas.
The USDA has tried to encourage homeownership in rural areas.
Trying to improve homeownership in rural areas is one of the goals of the Obama administration, according Agriculture Secretary Tom Vilsack.

Vilsack made his comments during a recent celebration of National Homeownership Month, which is recognized every June. The purpose of the month is to stress the importance that homeownership holds for the nation's economy.

"A strong nation is made up of strong families, and safe, quality housing contributes greatly to rural Americans' quality of life," Vilsack said.

While people benefit from being able to own a home, those who may use construction equipment to build houses do as well. According to the U.S. Department of Agriculture, $10.8 billion in funds from the American Recovery and Reinvestment Act have gone to provide mortgage guarantees for rural buyers.

Other efforts to help bolster the housing and construction industries have already come to a close. For example, the government extended up to $8,000 in tax credits to first-time homebuyers. The program was designed to give consumers an additional incentive to purchase a home.

The tax credit, which was also expanded to repeat purchasers, ended on April 30 of this year.ADNFCR-2034-ID-19817585-ADNFCR