Poll: Americans Oppose Sub-Prime Mortgage Bailout
February 19th, 2010 | by admin |
Congress is considering a mortgage lending bailout, but most Americans agree its the wrong approach by a 2-1 margin. The housing market is adjusting to an oversupply of housing stock and the failure of some high risk borrowers to meet their mortgage agreements. After years of steady growth in housing prices and a historic expansion of homeownership, a market correction is to be expected. Rather than aiding the situation, government intervention would distort the natural correction and prolong the uncertainty and turmoil in the housing market.
Americans understand this and believe that individual homeowners and lenders will need to adjust to market realities, according to a newly released Public Opinion Strategies poll. Between October 18 and 21, 1,000 likely voters were questioned over their opinions on the mortgage crisis.
With a margin of error of 3.1 percent., 90 percent of those surveyed viewed sub-prime mortgages as a serious crisis, but only 31 percent of respondents believed the federal government should get involved.
Duration : 0:1:25
25 Responses to “Poll: Americans Oppose Sub-Prime Mortgage Bailout”
By bcmalloy on Feb 19, 2010 | Reply
100% agree those …
100% agree those involved need to be made a harsh example of as their actions have defrauded citizens of their homes while destabilizing the economy. It’s time the victims were given at LEAST the option of loan on more reasonable terms to keep their hard earned property the banks have proven they deserve no protection from any of us in this matter
By rw5791 on Feb 19, 2010 | Reply
well,the government …
well,the government was not just creating incentive for banks to make risky loans.They were threatening legal action if the banks did not make the loans.
By mannyfeseha on Feb 19, 2010 | Reply
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By 0TZ12 on Feb 19, 2010 | Reply
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By 72defender on Feb 19, 2010 | Reply
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By jmkpns on Feb 19, 2010 | Reply
We don’t have ” …
We don’t have “dollar movies” anymore, thanks to the Community Reinvestment Act and “diversity” we have “dollar homes”. When our government moves psychotic welfare recipients out of the cities into the suburbs into 200,000 plus homes, they’re not gonna make more than 1 or 2 payments on those homes and yet, they’ll live there for years and now it’s time for the “bitter clingers” in this country to pick up the tab. I’m from the government and I’m here to help, well special interest groups. lol
By live777evil666 on Feb 19, 2010 | Reply
Lol this is so bias …
Lol this is so bias. Freedom works… their web page has “LESS GOVERNMENT” in its title.
By dixonblog on Feb 19, 2010 | Reply
Thank you, 228 …
Thank you, 228 members of the House, for voting against the Bailout.
Stock prices tell us that the $700B Bailout would have propped up the DOW by only 500 points. (Down 777 yesterday, up 250 today).
Hey, Government, STOP interfering in the markets. The only reason for a big 777 point drop yesterday was government interference (Bush promising a bailout that never came).
Anyone who is too wimpy to watch a 500 point drop in the Dow should SELL their stocks immediately.
By noonesaz on Feb 19, 2010 | Reply
The US government …
The US government and the taxpayers of America are not liable for the mortgage mess. The lenders are liable. And I say attach all their assets and liquidate to help pay off some of the debt. Barack Obama pulled in 9 million from a fund raiser, I say take 7 million and use it to pay off some of this debt and have another fund raiser. There is another solution, the banks can forgive the whole loan mess and turn the titles over to the buyers. Eat the loss and go to jail.
By TriumphantlyGrim on Feb 19, 2010 | Reply
(5) In case anyone …
. Wishing you ALL THE BEST, -T.G.
(5) In case anyone is interested in pursuing these things further, I suggest the book “How to Lie With Statistics” by Darrell Huff. It’s an older book, to be sure, but it is immensely readable and engaging, and perhaps even MORE relevant today than when it was written (and no, I’m NOT Darrell Huff–I’m just recommending this as perhaps the most accessible primer on this sort of thing that I’ve encountered
By TriumphantlyGrim on Feb 19, 2010 | Reply
(MUCH of a survey …
(MUCH of a survey response depends on these two variables–for example, asking a question about our policy in Vietnam in the late ’60s elicited a TOTALLY different response depending on whether or not the word “Communism” was included in the question) (4) (And this is a bit more technical) What was the sample size and the margin of error? (These things should be a matter of PUBLIC RECORD with ANY poll.)
By TriumphantlyGrim on Feb 19, 2010 | Reply
OK–a few things …
OK–a few things here (Please forgive me, for I’ll have to post in “chunks” due to the character limit here): (1) Exactly what newscast does this come from? (The source is NEVER mentioned apart from the narrator’s name at the end.) (2) How was the poll conducted? (If it was a Web-based poll posted on a particular site, these are NOTORIOUSLY BIASED, as there is a “self-selection effect” regarding those who answer the question. (3) How was the question phrased, and what were the answer options?
By boeing165 on Feb 19, 2010 | Reply
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By RessurrectionGraves on Feb 19, 2010 | Reply
It is in the best …
It is in the best interest of the lender to reduce the mortgage instead of foreclosing and not getting any money anyway. If they help the homeowner they insure themselves getting paid.
By RessurrectionGraves on Feb 19, 2010 | Reply
I am in support of …
I am in support of the bailout. Because there are situations where people want to stay in their homes but they were approved for an unfavorable loan. Interest Only etc… It may have been hard to make certain payments as many Americans suffer job loss, deaths in the family, and other tragedies that you don’t expect and many don’t have the savings to prepare for. It was mistakes made on the lenders end.
By jmpomerleau on Feb 19, 2010 | Reply
In 1986 we were …
In 1986 we were looking for our first (and so far only) home. We were told by the mortgage qualifying process that we qualified for up to a $250,000 home. Remember, this was 1986!! Well we had enough common sense to know that we couldn’t manage that in real life and told our realtor that we wanted a home UNDER $100,000. The realtor WAS NOT happy with us. But we stood firm, told him we were his boss, and found our home. These people should have been able to figure it out themselves too. GEEZE!
By FreeNMiami on Feb 19, 2010 | Reply
2) When someone …
2) When someone makes a bad decision, or chooses wrongly, they lose out; you pay the consequences for that decision. Thus, this processes creates the possibility for competence, people are paid back, one why or the other. This government should not be in the business of bailing out institutions or individuals for their lack of foresight!! What ever happen to free markets in this Great Nation?!
PLEASE, STOP THE RACKET NOW!
By FreeNMiami on Feb 19, 2010 | Reply
Stop the bailout; …
Stop the bailout; this is “Liberal Fascism”!!!!!
1) I’ve been responsible, saving my hard earned dollars in order to by a house, maybe in the next couple of months after 05/2008. Yet, greedy banks and irresponsible individuals get a free pass by the government with a bailout. It’s incomprehensible that our Taxed dollars will be used to acknowledge and pay off institutions and individuals by lack of decision making in their part. This is not the America I know!
By mongobobo on Feb 19, 2010 | Reply
yeah, but values …
yeah, but values will go up. it just means you can’t flip anymore. big deal. a house is a home.
By mongobobo on Feb 19, 2010 | Reply
it’s worth less. …
it’s worth less. not worthless. pay your mortgage and hang on.
By amyven on Feb 19, 2010 | Reply
I oppose the …
I oppose the bailout, because maybe finally greedy banks will learn to not loan money to people who obviously couldn’t afford the mortgage in the first place! And maybe people will learn to SAVE their money instead of taking on too much debt! A bailout will only put a band-aid on the problem, because nobody will learn their lesson and people will continue to do the above. Obviously the economy is suffering now, along with many people, but that’s how we learn from our mistakes.
By qlty4s2u on Feb 19, 2010 | Reply
Our economy is in …
Our economy is in the perfect storm.With the sub prime debacle,high oil prices,and the falling
dollar along with the ever continuing war in Iraq
draining our resources.For the first time in my
life worry about future of this great country.
By Nin1963 on Feb 19, 2010 | Reply
Bush tapped an …
Bush tapped an obscure federal agency created during the Civil War called the Office of the Comptroller of the Currency. In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act preempting all state predatory lending laws, thereby rendering them inoperative, The federal government’s actions were so egregious that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules.
By Nin1963 on Feb 19, 2010 | Reply
Bushco was …
Bushco was complicit in this mess. How many times during the last 8 years has Mr Bush talked about the “economy” as strong and pointed to housing numbers to assert this claim? Lot’s. It was all an illusion. Keep the masses thinking they are better off while the country’s economy tips closer to the cliff in order to advance as many changes to law as possible, completely politicize the DOJ and govt and head for Republican hegemony.
By AirelonTrading on Feb 19, 2010 | Reply
And the problem is …
And the problem is that EVERYONES house values continue to plummet, but their taxes do not go down.