This broad support for government policies that encourage homeownership comes at a time when the American dream is under attack under several fronts in Washington. Proposals to tamper with the mortgage interest deduction, mandate 20 percent down payments on home loans and to end federal support for affordable mortgages would prolong and aggravate the housing downturn, lead to more job losses and substantially raise the cost of buying a home -- particularly for younger households and first-time home buyers.

The lieutenant governors also noted that home builders face a lack of credit for housing production loans and that potential home buyers are stymied because they cannot obtain mortgages, which is further hampering the housing recovery.

Prudent lending to home buyers and home builders who need credit to build viable projects in communities that want and need them would go a long way into pumping life into the tepid recovery.

Recognizing the importance of the nation's home building industry in spurring and sustaining economic growth, the lieutenant governors highlighted that constructing 100 homes creates more than 300 full-time jobs, $23.1 million in wage and business income and $8.9 million in federal, state and local tax revenue. These tax dollars are desperately needed to help local governments to provide essential services such as schools, roads, and police and firefighter protection.

"There is pent up demand for homes in many parts of the country and America's home builders stand ready to do their part," said Rutenberg. "However a full-fledged housing and economic recovery will not take hold until Washington policymakers recognize that housing and homeownership must remain a national priority."