The last four years of housing market news has been about falling values and government intervention to help stem the tide of foreclosures and save the homes of those with mortgage troubles.  The good news lately has been the record low mortgage interest rates, but this hasn't really spurred new or existing home sales.  While refinancing has picked up to take advantage of these low rates, people are worried about the high rate of unemployment and near term home price fluctuations. 

If you're one of the many who are sitting back, watching and waiting to make a home purchase decision, November elections could change your view, whether you buy a home in the next few years, and the size and features you get.  Most experts agree that there will be one of two possible outcomes.  Either the voters will vote for those who are announcing their intent to pour more Federal aid into the housing market, or they'll vote with those who say previous bailouts haven't been effective, and have dramatically increased the country's debt.

The "more intervention" approach could provide another round of tax incentives for home buyers, perhaps moving the "watchers" to action.  There could be more activity to write down mortgages to keep people in their homes, slowing the growth of foreclosure inventories and helping to stabilize prices.  If the "backlash" group takes control, there will be more of a "let the markets fix themselves" approach.  The national debt will become the focus, and the housing markets will suffer some more, but may correct more quickly if market forces are allowed to take over independent of government aid.  What do you think?