To redistribute wealth, watch for Obama to play G-d and invoke a form of "Jubilee" before the elections, and literally give these homes away for $1 as a form of Homsteading for the "underserved"
Think I am crazy?
Look at the wealth transfer done @ GM from Bondholders to Unions etc and all the levers of power that are beholden to him post TARP and Porkulus, and the power of Fannie and Freddie....
The sad part of this is not just that Obama is likely to play socialist dictator and give them away without regard to the rule of law, the saddest part is that in a few years (months for most of them), the "free" houses will look just like the unlivable housing projects that we used to give to people who demanded that we take care of them. The far left has created a social class so inept that they cannot even be taken care of effectively, people who cannot maintain a house that they do not value because it was free and wouldn't know what to do if they did value the home. I pray that we will outgrow this experiment with socialism and move forward to a society that values the poor and provides real opportunities for them to become self-sufficient, while demanding that they accept those opportunities.