Americans Want Help with Foreclosures

The rate of Americans losing their homes through bank foreclosures is expected to ruse sharply in 2012. In a Gallup poll Americans were asked that it would be better if: (government intervention) - the federal government takes further steps to prevent this from happening. (Laissez faire) - the federal government does not take further steps but allows problems in the housing market to be resolved on their own.

More than half of the American population want the federal government to take greater steps to prevent foreclosures, according to a new Gallup poll. Along political lines, the support is less unanimous; Democrats and Independents overwhelmingly support federal action, while the majority of Republicans would rather let the housing market fix itself. The poll also revealed concerns about home values and ownership.

The results of the poll showed that, overall, 58 percent of Americans would like to see federal intervention with the foreclosure crisis. Politically, 76 percent of Democrats and 61 percent of Independents agreed with the masses. Conversely, 64 percent of Republicans would rather take a hands-off approach and allow the market to recover naturally. Only 34 percent prefer the housing market resolve its problems on its own.

Gallup also sought public opinion on issues such as decreasing home values and home ownership. With home values still low, 57 percent of all homeowners said they are worried their home's value will not increase in 2012. On the other hand, the poll revealed that only 66 percent of Americans currently own their primary residence; that number is down 7 percent from its peak in 2006 and early 2007.

- Courtesy of HousingZone.com