The FINANCIAL -- The federal government Friday extended its deadline to apply to the
Emergency Homeowners Loan Program, but most Americans believe troubled
homeowners should sell their homes rather than receive government
assistance to keep them.
The latest Rasmussen Reports national telephone survey of American Adults shows that 62% believe it's better for homeowners who can’t afford to make increased mortgage payments to sell their homes and find less expensive ones. Twenty-five percent (25%) think it’s better for the government to assist those homeowners in making their payments. Thirteen percent (13%) are undecided.
These results have changed little in surveys since late 2007. In May, 59% said troubled homeowners should sell their homes, while 24% favored the government stepping in.
Those who don’t own a home are more supportive of government intervention than those that do own one.
The survey of 1,000 Adults was conducted on July 17-18, 2011 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence.
Republicans and adults not affiliated with either major political party feel strongly that homeowners who can’t afford their payments should sell their homes and buy less expensive ones. Democrats are evenly divided.
While 39% of the Political Class favors the government assisting troubled homeowners, only seven percent (7%) of Mainstream voters agree.
For the second month in a row, less than half of America’s homeowners believe their home is worth more than the amount they still owe on their mortgage.
Confidence that home values will improve has fallen to the lowest level ever recorded.
Additionally, the belief among Americans that purchasing a home is a family’s best investment is weaker than ever. More homeowners than non-owners now think home-buying is not the best investment a family can make.
Related Stories
