madam chairman , i rise in strong opposition to the garrett amendment that would prevent an increase in the conforming loan limit . 
if the conforming loan limit is not increased , middle income families on the central coast of california will not be able to own a piece of the american dream -- their own home . 
right now , fannie mae and freddie mac can purchase single family mortgages up to a nationwide limit of $ 359 , 650 . 
increasing the conforming loan limit will allow these gses greater access to high cost housing markets , which will increase the availability of mortgage capital which will increase homeownership . 
i understand a mortgage of $ 359 , 650 sounds like a lot in some congressional districts , but in my district , middle class families will be priced out of the housing market if the conforming loan limit is not increased . 
let me give you some examples of housing prices for my district -- monterey county , the median home sales price in september 2005 was $ 712 , 797 . 
santa cruz county , the medium home sales price in september 2005 was $ 750 , 000 . 
for the city of salinas , in monterey county , the median home sales price in september was $ 610 , 000 , while the medium household income was $ 43 , 720 , according to census figures compiled for 1999 . 
for the city of watsonville , in santa cruz county , the median home sales price in september was $ 654 , 750 , while the median household income was $ 37 , 617 , according to census figures compiled in 1999 . 
there is a huge affordable housing-income gap in my district that will only get worse without an increase in the conforming loan limit . 
the american dream -- homeownership -- should be an opportunity for all americans . 
i urge a `` no '' vote on the garrett amendment . 
