Let's do another housing bailout...

because it worked so well the first time.
 
Obama to announce actions on housing, student loans (emphasis mine)

(Reuters) - President Barack Obama this week will announce a series of actions to help the economy that will not require congressional approval, including an initiative to make it easier for homeowners to refinance their mortgages, according to a White House official.

[...]The Obama administration has been working with the Federal Housing Finance Agency, the regulator for Fannie Mae and Freddie Mac, to find ways to make it easier for borrowers to switch to cheaper loans even if they have little to no equity in their homes. read the rest

The story did not mention anything about student loans, despite the headline. Do the "occupiers"  know that the Obama Adminstration will double the interest rates on students loans to 6.8% as of July 1, 2012? 

See:   Federal Student Loan Programs - Overview

Once again Obama will try and reward people who purchased houses they couldn't afford.  The "occupiers" would like you to believe that it was only greed on the side of the banks that caused the problem.  The reality is it was the greed of people living in a society that has lost it's moral compass and right reason fueled by a government manipulating markets.

People bought houses thinking the prices would continue to go up and up.  I'm not known for my mathematical genius, but even I could see that $500,000.00 to purchase a dump just because it was located in the Silicon Valley was a bit weird.  Even in our little corner of North Idaho, we witnesses the equity in our home skyrocket by hundreds of thousands over just a few years.

The housing market needs to be left alone from government interference.  While I have sympathy for people that may lose their homes, the fact is, even with a refinance, they'll probably lose their home anyway while the taxpayers will be left holding the proverbial bag. 

When people talk about the value of something they leave out the only real defining definition.  Something is worth only what someone will pay for it.  Bailing out homeowners who are upside down doesn't change the fact that they're still upside down.  And if anyone thinks that dump in Silicon Valley or anywhere for that matter, will ever be "worth" 500K ever again is ignoring the facts.