The whole thing pisses me off. I hate anything that rewards stupidity. I sat on the sideline for the last three years knowing that I could not afford a 700 or 800K home loan once the ARM reset. I was hoping that a return to sane values would help me be a homeowner again, but this will just delay that goal even more.

There are plenty of people like myself who have been waiting for values to return to normal. As a resukt, if the government would just leave it alone, the market will pick back up and the REO homes will sell again, just at realistic values that people can actually afford the payment on.