National Housing Policy - Redux

In my post below, I had stated that the bank bail-out would have provided a better service to the country if the funds had actually gone towards paying off a portion of the balance of mortgages that were in default. Such a program would have allowed people to stay in their homes, rather than being forced out - and either leaving empty bank-owned properties everywhere or dumping homes on the market at deep discounts. Today I saw the following New York Times Editorial (from January 4th) This Year’s Housing Crisis. Quite clearly the commentators I was responding to - those supporting booting people out of their homes - are not gaining mainstream support. Unfortunately, neither is a housing program based upon saving people and their homes.