Another positive trend is that local leaders are meeting national needs with local solutions. There's a story about a new Congressman who returned to his home district for his first town meeting. One citizen stood up and complained about the trash collection on his street. I didn't want to start that high up. That story's not too farfetched because more and more, people are seeing the best solutions coming not from here in Washington, but from local leaders and local partners backed by private sector investment.
Communities are the new national laboratories for ideas and innovation.
Fannie Mae has tried to use its leverage in the markets to flip the logic of the housing finance system on its head, and shift the burden of proof from consumers to the capital markets. The result of all these trends is that homeownership is not the distant dream it used to be for many families. And contrary to conventional wisdom, consumers are approaching this big step in their lives with less fear and more confidence and satisfaction than ever. That's the overwhelming message we got from our new National Housing Survey for 1999. In the next week or so we'll release the results to the public, but let me give you a sneak preview tonight.