Maybe the politicians think that with everyone getting ready for 4th or July that the news of a sleight-of-hand bailout bill won’t raise too many eyebrows. Maybe they’re wrong (again). With the holiday fast approaching legislators in both the House and Senate are getting ready to put through the mother of all mortgage bail out bills in an attempt to stave off the further decimation of the housing market.

In light of the subprime mortgage crisis that has resulted in extraordinarily high default rates on home mortgages, one might wonder what the government can do to better educate new potential homeowners.

New figures out today show that home vacancies are at an all time high of 18.6 million. Market Watch has the details:

In both Canada and the U.S., Chinese and White immigrants have the highest adjusted homeownership rates of all groups, at times even exceeding comparably positioned native-born households, according to a University of Alberta sociologist who compared rates by skin colour and across countries.