At some point, someone in the administration is going to pay attention to the 5 MILLION foreclosed mortgages that the banks are currently sitting on hoping that home values come back up. The banks are playing a bit of Russian roulette here.
If they sit on them too long, these homes will end up worthless. Everyone is well aware of what is happening to al these empty home sitting out there. They are being trashed by squatters and vandals. If not there, just a house sitting empty needs maintenance. If the house gets too trashed, the bank eats the mortgage (requiring us to bail them out again?)
If they dump too many of the homes back onto the market too fast, the prices of homes will drop again (underwater mortgages, anyone)
I would not be surprised if Obama decides it would be best if the Fed Gov bought up all these mortgages and then sold them to Sec 8 folks for pennies on the dollar and stuck us with the difference.
Either way, anyone who believes we are on our way out of this mess need to stop listening to the Obama machine and start paying attention to the details.