"Public safety" could be a reference to the idea that homeowners are more likely to be good citizens (less likely to graffiti, more likely to contact the authorities, less likely to just move on when things to go pot). Which way causation runs is uncertain, but I do think that people are more likely to protect that which they have a stake in (and that which they cannot leave easily). There may also be the issue of a greater likelihood of knowing who your neighbors are due to the decreased turnover.
None of this is to say that I'm necessarily pro-bailout, but I definitely have that bias towards homeownership.
Commenting by HaloScan
