Home Foreclosure Listings at a Record High
Posted on | July 16, 2009 | 1 Comment
The current foreclosure crisis affected over 1.5 million homes in the first half of 2009. This number is up 15% when compared to a year ago. In June, foreclosure filings rose by 33% and were up 5% from May of this year. Over 336,000 households received at least one foreclosure related notice in the month of June. This equals out to about one in every 380 homes.
From CNBC:
On a state-by-state basis, Nevada had the nation’s highest foreclosure rate in the first half of the year, with more than 6 percent of all households receiving a filing. Arizona was No. 2, followed by Florida, California and Utah. Rounding out the top 10 were Georgia, Michigan, Illinois, Idaho and Colorado.
This is VERY unsettled news when President Obama has shelled out over $50 billion in subsidies. The Making Home Affordable plan was an attempt to slow down foreclosures but all that has happened is an acceleration. I agree that it was a strong effort to help the housing market, but did we really need to spend this much on a housing plan that was a total experiment? Many of you may ask, well what is the answer? JOBS!
I know, I know, President Obama has spent millions to create new jobs. Um, where are these jobs? Is this why unemployment remains to increase and President Obama himself said that unemployment will be well over 10%. Well President, when you were pushing for your stimulus plan, YOU said that unemployment would only reach 8.5%. Is this a “misjudgement” as your Vice President likes to call it?
America, what exactly have we gotten ourselves into? I know I may be exaggerating a bit, but who didn’t see the stimulus plan being a flop? President Obama is taking money away from the rich to give to the poor. That works great in Robin Hood, but that is not how a capitalist society works. Until the rich are compensated the way they should be, this economy and housing market is going to continue to struggle.
Ultimately, we need all the companies on Wall Street to start hiring again. Well, if these companies continue to get ridiculed by the mainstream media for bonuses being too high and too much profit being made, what do you think they will do? As I finish this is see Senator Dodd on CNBC, what a joke! He said the business industry just doesn’t get it. Look in the mirror asshole!
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July 18th, 2009 @ 3:16 pm
Why are the RICH always right, according to themselves?
The other day, I went to a pub, spoke with a wealthy Vietnam vet, 68 or so, who is super concerned about Obama taking us into SOCIALISM…
I asked, are you on Medicare? Yes. Well, that’s a socialistic system that has one of the LOWEST ADMIN OVERHEAD COSTS in the country. Is it fair, YOU are getting socialism and the rest of the country gets to lose their homes when they are sick – getting poorer and poorer from the capitalistic greed of the ELITE?
No answer, just of really mean spirited stare.
Will he tell me next we should be dismantling our Fire Departments, another social program?
Will he have it be that our Police are for hire to the highest bidder, as private mercenaries?
What is it about helping people (that is, stopping suffering and pain) that others resent so much?
The missing key is obviously Love and Understanding. Brother. Sister. It is compasion and empathy that we must nurture here… Not profits.
I hope this patriot, in his heart, can come to share his treasured Medicare with the rest of us someday…