Such bailouts and programs for average Joe don't really work. When real estate price is in decline, housing becomes in time more affordable. In this conditions

Such bailouts and programs for average Joe don't really work. When real estate price is in decline, housing becomes in time more affordable. In this conditions you may actually get a chance to buy a house without a loan. It's a natural evolution. Now suppose the government steps in, throwing easy money - what do you think will happen next? I don't live in USA, I live in Romania, EU. Here the real estate prices jumped threefold after the government started „the first home” (literal translation) - a program that wanted to support young families in getting a home. I don't say there weren't any benefits for involved parties - the program actually spurred a lot of construction around, the banks made a lot of profits, and some young selected couples had in the end the privilege to be supported in buying overpriced living places. For everyone else (most of us) the entire thing made the housing more expensive. I don't want to see such things happen again.