(EMAILWIRE.COM, September 29, 2009 ) Destin, FL -- Has the manipulation of Wall Street traders and the development of new creative mortgages that have sent millions of homeowners into foreclosure changed attitudes? The real estate research firm that forecasted the economic crisis is asking the question that may shed light on the future of the U.S. economy. The new poll asks, “If your home’s value keeps falling will you walk away from your mortgage?”
Americans have always felt responsible to banks and mortgage companies that made them a loan to buy a home. But from Wall Street to Main Street there’s there’s been a change in attitudes. Major changes are afoot in the way Americans feel about the U.S. banking system and their own financial well being.
Protesters have marched in Washington D.C. and at hundreds of other gatherings around the country in opposition to government actions, including bail-outs of big banks.
Wall Street traders developed new financial instruments to trade mortgage backed securities filling a record supply of home mortgages, and most people didn’t even know what was happening. The securities were made up of subprime mortgages and conventional loans. Nearly two years after the crisis reared its ugly head the same types of securities are being traded again on Wall Street.
The foreclosure epidemic has grown to become the nation’s worst financial disaster since the Great Depression as business failures rise and unemployment grows. Out-bursts against members of Congress at town hall meetings have become regular news as America deals with the worst economy in decades.
Housing Predictor forecasts more than 250 local housing markets and regularly surveys visitors on real estate related topics to gauge public opinion on important issues of the day. Take the Predictor Poll, check your market forecast and search foreclosures at http://www.housingpredictor.com
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