Sunday, July 27, 2008

CNN iPoll on the Housing Bail Out

Copy and pasted from CNN webpage at 1:45 p.m. on 7227/2008:
How do you view the housing rescue bill?
Needed boost to economy 27% 27558
Bailout of reckless homeowners 73%
Total Votes: 103457

I'm surprised by the one-sidedness of this, though it is not a very scientific poll. Could this bailout bill become an important campaign point this election season?


Anonymous said...

I suspect the news stories of buyers with multiple homes in foreclosure are wearing a bit on those who only have one home. Why bail out the flippers? Bad business judgement shouldn't be rewarded.

Matt E. Ryan said...

Fantastic story on CNN:

Family has smallish home, and is having difficulty with the mortgage payment. Extreme Makeover gets involved, tears down the old home, builds a beautiful, and substantially larger, home for the family, pays off the original mortgage, and on top of THAT, gives them $100k. Family, in turn, takes out a $450k second mortgage on the new house...and now can't pay it off.

Sure glad we're saving a family that's run on such tough luck.

Anonymous said...

I don't know enough about the bail out bill to fully be decided about its usefulness, but I'm curious as to how much the economic status of the readers of skews the results of this poll. There are plenty of homeowners who are victims of shoddy business management by mortgage companies, although I don't expect they're cruising the internet to vote on CNN about it.