Should home owners who are being foreclosed on be allowed to stay in their houses for 1-2 years, as is being proposed to state and federal government by some organizations?
At first glance, that seems to me like a good tactic for preventing mass homelessness when the housing bubble collapses totally. However, upon deeper examination, it seems as though it would be a fairly impotent measure, unless the economy improves enough for the people being foreclosed on to afford somewhere else to move to during that grace period. In any case, I’m sure it would be a good idea if the housing market is as bloated as it seems to be, but it can only do so much without something else being done to improve the general quality of life for the working class. And also, in any case, the grace period shouldn’t be extended to two years, or even one, as a given. If it’s going to be an effective measure, it should be dependent in some way on the people looking for new housing, and ideally be accompanied by assistance in finding it.
