The Presidential Election: What About Housing?
by Nathan Walpow
Remember the housing bubble? It was all we were talking about a little while back, as foreclosures skyrocketed, piercing the firmament and making the sky fall.
Then it slid into the background. All those companies that contributed to it started going broke, the bad loans came home to roost, Wall Street giants collapsed, and we had one last weekend to enjoy until the new Great Depression started the following Monday.
And housing sort of got forgotten. When was the last time you heard either of the major candidates mention it, other than as part of a litany of all the things they were going to fix when they were elected?
Jon Lansner talks about the situation over at his Orange County Register blog. The results:
In the 17 states that are “solid” or “leaning” McCain, according to RealClearPolitics, my spreadsheet tells me that the weighted average home price fell 1.6 percent in a year. That’s relatively strong when you note that First American LoanPerformance’s overall national index, weighted in the same manner, was down 6.5 percent in the past year. In the 24 states plus D.C. “solid” or “leaning” toward Obama, my spreadsheet tells me that the weighted average home price fell 9.1 percent. That’s significantly worse than McCain strongholds, as 13 of the 17 worst state home markets are seen by RealClearPolitics in Obama’s camp.
(And the states currently rated as toss-ups fall in the middle.)
Check out the whole post here. There's even a poll for you to take. Practice for next Tuesday!
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