The Problem with Housing – Survey Says!

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Another day; another survey on housing. This one is from the John D. and Catherine T. MacArthur Foundation. Based in Chicago, this is the 12^th largest private foundation in the US according to asset size. Pretty impressive.

According to this survey about two-thirds of Americans believe that something needs to be done about housing affordability and that the current presumptive nominees for each party should be addressing this problem.

Unfortunately, the American outlook toward the so-called “economic recovery” is somewhat diminished, with 44% believing we are in the midst of real housing crises.

According to this survey, 85% of those responding say the “need for stable, affordable housing” is important to maintain a secure, middle-class lifestyle. This tied for second with “saving for retirement”. These are somewhat related as many see home equity as a way to save for the future.

The number one concern: having a good job. Surprised? You shouldn’t be. It’s all about the economy.

Overall, more than three-quarters of those surveyed think that more can, and must, be done by the government to address the affordable housing issue. The big question is: What?

Just my own personal opinion, But, maybe Washington, and the candidates, should concentrate a little more on better protecting American citizens, so everyone can still have a chance at the American Dream.

What do you think? Should Washington, and the candidates, be focused more on housing affordability, or are there bigger fish to fry?

About the Author

Michael Vitali

Michael L. Vitali – Independent Consultant to the Mortgage Industry Mike Vitali is an independent consultant to the mortgage industry on matters concerning compliance and mortgage lending. He most recently served as the Senior Vice President and Chief Compliance Officer for LoanLogics, monitoring regulatory developments and their practical implications for the mortgage lending industry. His duties included research, interpretation, and analysis of existing and proposed legislation related to the industry in support of recommendations for policy and/or procedure changes to maintain continued quality and compliance with all applicable laws, rules and regulations, investor requirements, and standard mortgage practices. In his more than 40 years in the mortgage industry, in senior level management, he has gained experience in all areas of mortgage lending, risk management, and compliance. Mike is a past President of the MBA of Greater Philadelphia, is a charter member and was the second Chairman of the MBA of Pennsylvania, and a past board member and Legislative Chair of both associations. He is a recipient of the 1998 Mortgage Banker of the Year Award from the MBA of Greater Philadelphia, and the 2003 Chairman's Award from the MBA of PA, and currently serves on several compliance related task forces for MBA.