No Pr, Banks need home prices high and own the government. Not homeowners. If they could get away with lowering prices and not crushing themselves they would do it is a second. The government could easily explain why it is good for everybody, because it would be, if the market was aloud to correct. It has nothing to do with what homeowners want. During the bailout phone calls were 100-1 not to allow it. That shows you how much they care about public opinion.
If home prices correct, it’s billions more in loses for the banks every few percent. It’s just the structure of the system.
It’s also well reported that lenders and the .gov are shaming people into not strategically defaulting via “social control agents”. That right there shoots holes in your homeowners own the government stance.
The banks NEED people to keep paying on their mortgages and NEED home prices elevated. For bank survival purposes.
Though, the fact that many homeowners want their home prices elevated helps with the banks needs.
