New York comes in third, after California and Florida, in its share of America’s outstanding subprime mortgage debt. But not all New Yorkers welcome Congress’s attempts to bail out homeowners. After all, why should renters bail out homeowners when they don’t even own a home?
On Monday, a New York resident, Martin S., wrote on the Web site angryrenter.com, “Do not bail out greedy homeowners and builders with my money!! Let them suffer the consequences of their greed.”