Wednesday, December 19, 2007

US Foreclosure Filings Up 68 Pct in Nov.

The housing market just continues to decline.
U.S. homeowners increasingly failed to keep up with their home loan payments in November, as the number of foreclosure filings surged 68 percent nationwide compared with the same month a year ago, according to a mortgage research company.

In all, 201,950 foreclosure filings were reported last month, compared with 120,334 in November 2006, Irvine-based RealtyTrac Inc. said Wednesday.
I predict the housing market and subsequent economic decline will be the number one issue in the 2008 Presidential campaign and that can only spell doom for the Republican nominee.

It is hard to run on failed economic policies and even harder when you still beleive in the same policies that got us into this mess.

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