Yes, as we mentioned in our previous post, the government is the cause of the housing mess, and it continues to prop up home prices, while prices need to drop in order to better reflect true value. The money that will be given to these people who got mortgages will prevent them from being liquidated like they should be. Here's the article:

http://www.philly.com/inquirer/local/pa/20101006_Federal_mortgage_relief_program_to_bring__106_million_to_Pa__homeowners.html

By the way, one might want to see a map pf the areas where the Administration showers the cash. It's likely that the money is going to be concentrated on politically "iffy" areas where leftist politicians are in trouble for the next election. This is precisely how it was done during the FDR years.

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