I have been mislabeled as a big advocate of low-income home ownership over rental.
The public is ready now for a safety net for the middle class, something not just for the poor, but for everyone who will need help, from time to time, in order to own a home, educate their kids, keep themselves healthy or have something to retire on.
Trying to avert foreclosures, once you can't just force the banks to do it as a condition of getting aid, means that you have to put some public money into it or you have to do other things that are politically unpopular. From the macroeconomic standpoint there is overwhelming need to help people reduce what they owe so that we don't get the foreclosures and we don't get people kicked out of their homes. On the other hand, there is great resistance politically to helping people, not all of whom would be worth recipients of the help.
