President Bush devoted a recent radio address to home-ownership and, in particular, the racial "gap" that exists. He declared that "while nearly three-quarters of all white Americans own their own homes, less than half of all African-Americans and Hispanic-Americans are homeowners," and that we must "close this home-ownership gap." He recognized that not only the government, but also the private sector, must be mobilized in a major nationwide effort to increase minority home-ownership.

The elimination of racial gaps in home ownership is certainly a good thing. Laws against discrimination in the mortgage-loan application process should be strictly enforced. But, it is my hope that this does not result in pressure being put on agencies and private lenders to favor some groups over others on the basis of race.