The Wall Street Journal ran an interesting story Monday looking at the flip-side of a proposed housing aid package being pushed aggressively by Congressional Democrats -- namely, that there are a pretty good number of people that don't want to see Federal dollars used to help troubled borrowers.
It's a polarizing question, according to the WSJ
The public is split. "If you're the Secretary of Bailouts, and people come in and show you that they're worthy of being helped out, everybody will have a story," says Robert Krance, 64 years old, a Houston physician and McCain backer. "I don't know how you can create a reasonable, enforceable method for deciding who should be helped."
A hands-off approach by the government is "the right thing to do," agrees Jeff Cohu, a 40-year-old professor attending a McCain rally last week. "The market will readjust faster and better than the government could."
A Gallup Poll in late March found that 56% of Americans favor government intervention to prevent people from losing their homes because they can't pay their mortgages, while 42% oppose it. The partisan divide was sharp: 58% of Republicans opposed intervention; 71% of Democrats and 55% of independents supported the idea.
We've interestingly seen housing and mortgages move to the back-burner for the Presidential wanna-bes from both major parties. It's strongly polarizing results like this that suggest the issue won't be on the back burner for very long -- and that any Presidential candidate ignores housing policies at their own peril, regardless of party affiliation.