[quote=EconProf]Renters saving up to buy a home should be furious at their government for this. Their own taxes are being used to keep them from buying their first house. I love the part describing the program: “By keeping cheap foreclosed properties from reaching the market the program could give a boost to home values in general.”[/quote]

We renters have been furious for a long time. This is just the most recent “bailout” that is designed to keep us out of the housing market, or force us to overpay for housing. And yes, it’s our tax money that’s being used to keep housing at unaffordable levels.

This is why some of us have been so bitter about all the bailouts (trillions of dollars). They were designed, from day one, to prop up banks (and FBs, by default)…all at the expense of future buyers.