Global Property Guide Poll
Who can best revive the US housing market?
Among the US presidential candidates, who can best revive the housing market?
As the 2008 US presidential race heats up, the economy continues to falter while the housing crisis worsens. Actions by the Fed, including interests rate cuts and bailouts, and the national government seem inadequate.
Hopefuls for the November 2008 presidential election have offered different solutions for the housing and economic crisis.
Democrats Barack Obama and Hillary Clinton propose a US$30 billion stimulus package. Obama further promises “to crack down on fraudulent brokers and lenders. He will also make sure homebuyers have honest and complete information about their mortgage options, and he will give a tax credit to all middle-class homeowners.”
Clinton, on the other hand, proposes a “comprehensive work out - not a bail out - that would end the foreclosure crisis. She proposed three immediate steps: 1) a foreclosure moratorium; 2) a freeze on adjustable rate loans; and 3) more accountability from the financial industry.”
Republican John McCain, however, offers a less interventionist approach. He repeatedly said in interviews that no government assistance should be given to speculators or people who bought houses to rent or as second homes.
About half (49%) of Global Property Guide readers think that Obama’s proposals are the key to end US housing debacle. Only 28% think that Mc Cain’s hands-off policy is good. The remaining 23% is in favour of Clinton’s “comprehensive work-out.”
For more details see:
http://www.hillaryclinton.com/news/release/view/?id=4530
http://www.barackobama.com/issues/economy/#home-ownership
http://www.johnmccain.com/Informing/Issues/
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Who can best revive the US housing market?
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