Gallup: Majority of Americans Want Government to Help Stop Foreclosures

[highplainsdem]

http://www.gallup.com/poll/152213/Majority-Americans-Gov-Help-Stop-Foreclosures.aspx

January 26, 2012
Majority of Americans Want Gov't to Help Stop Foreclosures
A majority of homeowners are worried about home values
by Dennis Jacobe, Chief Economist

PRINCETON, NJ -- The majority of Americans, 58%, prefer that the government act to prevent foreclosures, whereas 34% prefer the housing market resolve its problems on its own. A sharp partisan divide exists, with 76% of Democrats and 61% of independents favoring government action and 64% of Republicans opposing it.

Americans who make $90,000 or more per year and those who have graduated from college are less likely to want the government to take steps to prevent foreclosures. Still, half or more of both groups are in favor of government intervention.

-snip-

President Barack Obama noted in his State of the Union address that he is sending Congress a plan that "gives every responsible homeowner the chance to save about $3,000 a year on their mortgage." The idea is that banks will make low-interest-rate mortgage loans available for homeowners interested in refinancing. This new program would be funded by a "small fee" on the nation's largest financial institutions.

The president's proposal is consistent with the view of the majority of Americans that the government needs to do something to help the housing market. Foreclosures not only hurt the people losing their homes; they also affect those trying to sell their homes by driving down home values.

-snip-

[HockeyMom]

1. So they want a Nanny State

in direct opposition of the Republicans stance. This says a lot.

[customerserviceguy]

2. Being as interest rates are at record lows

As interest rates creep up, things are only going to get worse. Why not have the real estate market find its own natural bottom, rather than be subjected to the CPR of gimmicks, just to have a false "Weekend at Bernies'" situation?