Foreclosures at a record high – and what is our government doing?

Posted on 15 October 2009

CNN Money today reported that home foreclosures are at a record high:

Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter, according to a report issued Thursday.

“They were the worst three months of all time,” said Rick Sharga, spokesman for RealtyTrac, an online marketer of foreclosed homes.

During that time, 937,840 homes received a foreclosure letter — whether a default notice, auction notice or bank repossession, the RealtyTrac report said. That means one in every 136 U.S. homes were in foreclosure, which is a 5% increase from the second quarter and a 23% jump over the third quarter of 2008.

This was the start of the financial crisis. So, the government shores up the banks so that Goldman Sachs can distribute record bonuses by trading on taxpayer money. The politicians get busy on:

- Cap and Trade
- Stimulus for their union friends
- Healthcare reform that won’t save money and won’t reform healthcare

And the foreclosures keep piling up…

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Category: Democrats, economics, foreclosures

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