U.S. Minister of trying to take advantage of China's foreign reserve to help Americans purchase.

<P>: Http://finance. News, U.S. officials recently revealed that: 70% of Americans own their own homes. .</ P> <P> According to China Youth Daily reported on July 13, was in Beijing for visit to the U.S. Department of Housing and Urban Development (HUD) Alphonso Jackson Minister said: "I took office, President Bush gave me to reduce .United States, the proportion of people without housing. Currently, the United States who own their own property has reached 70%, and the Nordic countries but there is still a gap. In Sweden, the proportion of individual home ownership reached 88.5%. "</ P .> <P> Jackson led the U.S. Department of Housing and Urban Development, the main duty is to "let people have a house to live." .It seems that American capitalism seems the spirit of free competition, "contrary to" more like a socialist concept. .In response to reporter's question, Minister Jackson said the government's task is to provide the necessary assistance for the poor, providing "the people can afford to buy a house," under which his department was established concept. .</ P> <P> It is understood that, in 1934, the Great Depression, the U.S. economic downturn, many people facing bankruptcy, unemployment and other issues, then, the federal government created the Federal Housing Administration (FHA), the organization dedicated to the residents .provide housing loan insurance, and use it as leverage, the mortgage repayment structure standard for today equal rational way this month. .In 1965, the Federal Housing Authority into the Department of Housing and Urban Development, as part of their housing office to continue to pass on their establishment, in mind. .</ P> <P> the Department of Housing and Urban Development functions, including providing low-cost housing rental subsidies, guarantees and bond buyers part 3. .Department of Housing and Urban Development budget for the year from 34 billion to 36 billion U.S. dollars, half of which used low-rent public housing subsidies. .Fifties and sixties of last century, the U.S. government to resolve the housing difficulties of low-income people, concentrated in the urban fringe of a number of replacement housing built for the placement of housing hardship. .Later, the U.S. government found that the economic cost of construction of resettlement housing, social cost is too high, turn to the implementation of low-rent housing rent subsidies, government subsidy burden standard is 70%, paying 30%. .</ P> <P> issuance of bonds is the Department of Housing and Urban Development, one of the main functions. .It bonds to the community, investors buy bonds, the Department of Housing and Urban Development charged by banks to buy home loans home buyers, mortgage banks and expanding the scale, and further stimulate the enthusiasm of buyers to buy a house. .So, a virtuous circle. .</ P> <P> Jackson Minister's trip to Beijing, and is closely related to the Department's bond program. .China has huge foreign exchange reserves in U.S. treasury bonds for the purchase of the situation, he suggested that the Chinese buy U.S. mortgage securities. .He said: "For China, this is a worthwhile investment: in the case of the same credit risk, mortgage-backed securities than the traditional higher return on U.S. government bonds. These can be used to return on investment projects in China Service ., such as the development of affordable housing. "speech at the Beijing American Chamber of Commerce, he said the purpose of this trip - to catch the China-US strategic economic dialogue along for the ride, let the Chinese buy U.S. mortgage securities. .In other words, this is to borrow the money to achieve the Chinese Americans, "real estate dream." .</ P> <P> Jackson told reporters that the trip he met with China's Ministry of Construction and the relevant person in charge of the central bank signed a memorandum of understanding. .But he refused to disclose details. .</ P> <P> in the July 13 speech in Jackson Minister also mentioned that the United States and China are one of the priorities that the government is to make home ownership. .In response to this reporter, "tell China what their counterparts make recommendations" to this question, Jackson minister did not directly answer, but he said Chinese officials "to open to new ideas." .</ P> <P> U.S. real estate market will go from here? </ P> <P> 20 more than large companies stopped lending crisis in the U.S. mortgage market is </ P> <P> bad U.S. mortgage market turmoil has thrown the world .</ P>.