In an online survey launched last week, Big Builder questioned its readers about their feelings regarding the new $787 billion stimulus package.
An overwhelming percentage of respondents--75%--said they do not think the housing sector will see a degree of relief/improvement from the stimulus bill, signed into law by President Barack Obama last week, or the loan modification program addressing foreclosures, also announced last week.
A minority 10% of the respondents said relief/improvement in the housing sector will be seen because of the stimulus, while 15% said they are unsure.
"Saving tens of thousands, if not hundreds of thousands or more, from foreclosure and the infrastructure improvements" are the biggest strengths of the stimulus package, noted one lone respondent.
However, the majority of respondents saw weakness in the stimulus package, with many saying it fails to address the nation's horrific housing problem and is overloaded with pork-barrel spending. "It does nothing to get to the real problem. That is without making housing your No. 1 priority to correct, nothing else matters because housing has always led the way as far as what the economy is doing," noted one respondent.