Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Housing News

Most believe troubled homeowners should sell, not get assistance

Sell or get assistance?

Most Americans currently believe that homeowners in trouble should sell their homes rather than receive any government assistance to keep them, according to a recent Rasmussen Reports poll. Of those polled, 62% held the belief that if a homeowner cannot afford raised mortgage payments, they should move to a more cost effective home while 25% stated it is better for government assistance to play a role in troubled homeowners making payments, and 13% were undecided.

The poll did not include questions over Americans’ confidence in whether or not homes that they believe should be sold by troubled homeowners would actually sell or how that would impact the housing sector.

A change in sentiment since May

These same poll questions were asked in May with a small increase the number of respondents that feel troubled homeowners should sell their homes.

The poll also uncovered that respondents who don’t actually own a home tend to be more supportive of government intervention than respondents who are currently homeowners.

Advertisement. Scroll to continue reading.

Republicans v. Democrats – surprise

Not surprisingly, Republicans (and those unaffiliated with either major party) were the most in favor of homeowners selling their homes in the event they cannot afford payments, but more surpising is that Democrats were evenly split on the issue.

The fading American dream

The American population’s focus on homeownership as the American Dream has begun fading in recent years, with poll results revealing a decline in the number of respondents that believe buying a home is a family’s best investment, with a particular increase in this belief by actual homeowners.

Confidence in home prices

Confidence that home prices will improve has dropped to the lowest level ever recorded, further revealing a population becoming jaded about housing.

The new American dream?

The dream of the nuclear family in a small house was once the American dream and when the idea of the impossible nuclear family fell off of Americans’ radar, we were left with the idea that at least one should own American soil. As this idea fades and the stigma behind renting fades, what will become the new American dream? Some believe it is entrepreneurship or being a business owner while others envision a dream focused on sustainability. The dream is up in the air right now, but could homeownership be secured as the dream if the economy turns around?

Advertisement. Scroll to continue reading.

The American Genius is news, insights, tools, and inspiration for business owners and professionals. AG condenses information on technology, business, social media, startups, economics and more, so you don’t have to.

31 Comments

31 Comments

  1. Augusta Real Estate

    July 27, 2011 at 3:36 pm

    When feasible, selling your home when you can't afford the payment makes perfect sense. Of course if you have to bring a large check to closing to sell your house, that may not work out so well. I mean if you have significant resources you can probably afford to make your house payment. There is the rub. This is not a political party affiliation problem.

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Real Estate Technology

(TECH NEWS) It turns out that Internet of Things, like smart bulbs in homes, are not secure and give up your info - here...

Real Estate Marketing

(MARKETING) Your fancy, self-animating website might be making people violently ill, even if it is insanely beautiful. Sorry...

Real Estate Marketing

(MARKETING) Conduit is a CRM that does more than CRM, it analyzes your networking data to help you see how to improve your relationships.

Real Estate Corporate

(REAL ESTATE) Zillow has long been a data powerhouse, but a lawsuit about a $150M listing offers a look into listings claims.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.