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Poll Shows Strong Support for Government Housing Initiatives
Nearly two thirds want government help stop foreclosures

 

Keeping families in their homes is also particularly important to first-time home buyers, as 78 percent of young adults under age 30 support greater foreclosure protection. And 69 percent of adults who are 30 to 44, the prime age range for move-up buyers, said they support more foreclosure protection.

 

Overall, roughly two-in-three respondents said they own their home. Among renters, about two-in-three intend to buy a home in the near future.  In addition, 15 percent of current home owners intend to buy a home in the near future. 

 

The poll asked respondents for their views regarding the Worker, Homeownership, and Business Assistance Act of 2009 that extended a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The legislation, which was signed into law by President Obama in November 2009, also authorized a tax credit of up to $6,500 for qualified repeat home buyers.

 

Overall, 8 percent of those surveyed said they intend to take advantage of that credit, while another 24 percent who might have been interested in using the tax credit said they cannot afford to purchase a home at this time. Of the 33 percent of respondents who said they are planning to buy a home (both renters and current home owners), roughly 17 percent said they intend to use the tax credit.

 

Financial concerns continue to be the greatest barrier to growth in the housing market.  Among renters nationwide who aspire to own their own home, 39 percent simply don't have the money to buy a home at this time, and another 20 percent said the primary obstacle is that they feel they cannot qualify for a loan. Larger economic issues also play a role, as 18 percent said that job security is the greatest obstacle they face in trying to buy a home.