Americans Strongly Support Government Housing Initiatives: Survey

Americans remain deeply committed to federal support for homebuyers, and many believe the government should

[IMAGE]

provide more protection against foreclosure, according to the results of a recent survey conducted for the ""National Association of Home Builders"":http://www.nahb.org/ by ""RT Strategies"":http://www.rtstrategies.com/, a bipartisan public opinion polling firm headquartered in Washington, D.C.

Of the households polled, 68 percent said the government should continue to support housing. This belief was found to be especially true for potential homebuyers, as 78 percent of respondents in this group, including 81 percent of renters who intend to buy a home in the near future, said government housing initiatives should carry on.

Many who were polled also said the government should be doing more to help families avoid foreclosure. Overall, 65 percent of homeowners said government support needs to be expanded, and 84 percent of renters believe the government needs to offer additional assistance to troubled borrowers.

According to the survey, this issue is particularly important to women, with 71 percent supporting greater

[COLUMN_BREAK]

foreclosure protection, compared to 58 percent of men. Keeping families in their homes is also a concern to first-time homebuyers, as 78 percent of young adults under age 30 said more foreclosure protection is needed. In addition, 69 percent of adults between the ages of 30 and 44--the prime age range for move-up buyers--said they support additional government initiatives to help families at risk of foreclosure.

The survey also asked respondents about their views regarding the extension and expansion of the homebuyer tax credit. Overall, 8 percent of those surveyed said they intend to take advantage of the tax credit, and another 24 percent who might have been interested in using the credit said they cannot afford to purchase a home at this time. The poll found that 33 percent of respondents are planning to buy a home in the near future, and roughly 17 percent of these said they intend to use the tax credit.

The greatest barrier to growth in the housing market continues to be financial concerns. Of the renters who aspire to own a home, 39 percent said they simply don't have enough money to buy a home, and 20 percent said they feel they cannot qualify for a loan. Larger economic issues also play a notable role, as 18 percent said job security is the greatest obstacle they face in trying to purchase a home.

Current homeowners who would like to buy a new home are affected by weakness in the housing market itself. According to the survey, 29 percent of homeowners said their greatest obstacle to purchasing another homes it their inability to sell their current home, and 7 percent feel trapped by a mortgage that exceed the value of their existing residence. In addition, 14 percent fear the value of a new home might fall after they make the investment, and 13 percent said home prices are too high to allow them to buy a new home at this time.