In all, 179,599 foreclosure filings were reported during July, up from 92,845 in the year-ago month, according to Irvine-based RealtyTrac Inc.Seeing Nevada, Florida, Ohio and Georgia on this list must be giving the Republican party many sleepless nights.
A total of 164,644 foreclosure filings were reported in June.
The national foreclosure rate in July was one filing for every 693 households, the firm said.
"While 43 states experienced year-over-year increases in foreclosure activity, just five states — California, Florida, Michigan, Ohio and Georgia — accounted for more than half of the nation's total foreclosure filings," said RealtyTrac Chief Executive James J. Saccacio.
Nevada posted the highest foreclosure rate: one filing for every 199 households, or more than three times the national average. It reported 5,116 filings during the month, an increase of 8 percent from June.
The foreclusire nightmares that are resulting from the subprime mortgage debacle will cause economic downturn in these states. With Ohio trending blue and Nevada and Florida truly purple states, the chances of a democratic president in 2008 grow.
The version of the Great Depression of modern times is quickly coming upon us.
Sad thing is, Bush will do nothing to stop it.
Of course he won't stop it. He helped create it.
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