Foreclosures are surging at a bad time for the president Barack Obama road to re-election is lined with lots of boarded up homes .Though the high unemployment rate dominates talk in Washington for many 2012 voter the housing crisis may well be a more powerful manifestation of a sick economy and in an unfortunate twist is for Obama,the problem is at it's worst in many will be decisive in determing mining whether he gets another term Swing states Florida,Arizona Nevada Ohio and Michigan all pulse red hot on a foreclosure rate heat map and those five states add up to 80 of the 270electoral votes needed to win the presidency mortgage default notices surged nationally last month one in every 118 homes in Nevada received a foreclosure filing in august according to the foreclosure listing firm ready trac one in 248 in Arizona in Michigan one in 349 a one in 376in Florida a foreclosure impact is visceral and outsize rippling far beyond one household entire neighborhoods see what's going on says bill Alston a senior fellow at the brookings institution and a former Clinton administration official the visibility contributes to the psychology of continued economic troubles homeowners with mortgages are now underwater representing nearly 11 million homes according to core logic a real estate research firm again many of the states with the highest underwater m ortgage rates also are political battleground states Obama will need swing state voters more than ever in 2012 because of the tougher political climate for democrat's this election season nearly a quarter of allu.s to core logic a real economic troubles nearly a quarter of all us home owners with mortgages are now underwater representing nearly 11 politically it all adds up to the thousand pound gorilla in the room says Roy Oppenheimer a Florida foreclosure defense housing slump it's a liability

EMAIL||FLAG THIS POST