Survey: Americans Feel the Government Hasn’t Done Enough Foreclosure Prevention

A recent survey by the Home Buying Institute revealed how Americans feel about the federal government’s efforts to reduce foreclosures. The majority of respondents felt that the government had not done enough to reduce foreclosures. Perhaps most surprising was the large number of people who said the government should never have gotten involved.

Consumer Survey

Survey Details: We conducted this survey on the Home Buying Institute website. Responses were collected over a one-month period, between September 23 and October 23, 2010. The survey was presented to a mix of home buyers and homeowners, many of whom were in the market for a mortgage loan (for either purchase or refinancing purposes).

Of those who responded:

  • 43.8 percent said the government has not done enough to reduce foreclosures.
  • 25.7 percent said the government has done enough.
  • 22.9 percent said the government never should’ve gotten involved to begin with.
  • And 7.6 percent felt that the government has done too much.

“This was a survey without an agenda,” said Brandon Cornett, publisher of the Home Buying Institute. “We did not suggest that it was the government’s role to reduce foreclosure rates. We merely posed the question and allowed people to respond.”

Most surprising was the fact that nearly a quarter of respondents thought the government shouldn’t have gotten involved at all. “That was certainly a surprise,” said Cornett. “Normally you hear people complaining that the government doesn’t help enough. I didn’t expect so many people to say they should have stayed out [of the foreclosure mess] altogether.”

About the Home Buying Institute

The Home Buying Institute has been educating home buyers and homeowners since 2006. In 2010, the company began conducting online surveys to learn more about its audience. You can view the most recent surveys here.

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