Politics, Housing Markets, and Foreclosure Rescue

by | BiggerPockets.com

The Housing Markets in Red vs. Blue States
According to Reuters, “Blue” states, which traditionally vote Democratic have experienced a greater housing boom then the traditionally Republican “Red” states.

Will this affect the upcoming election?
University of Maryland Economist Peter Morici says, “They (red states) don’t need a housing value collapse for them to turn on Bush, they are turning on Bush by the fact that their housing values have not gone up in the first place.” While “blue” states such as New York & California have seen record growth over the past several years, the “red” states in the middle of the country have languished, comparatively.
Will this lack of growth in the housing market help usher the Democrats into office on Tuesday?
Only time will tell . . .

Is the Vancouver Real Estate Market Cooling Off?
CKNW News Talk 980 AM Radio is reporting that according to the Real Estate Board of Greater Vancouver, residential home sales decreased 12% in October ’06 from ’05. In addition, new listings are up 20% comparing the same time periods.

Foreclosure Rescue Loans for 2 Counties in Ohio
Residents of Butler and Warren Counties in Ohio can qualify for loans up to $3,000 under the Ohio Home Rescue Fund to help them avoid foreclosure, reports The Enquirer. “Recipients of the 36-month forgivable loans will receive foreclosure prevention and budget counseling and must be able to make future mortgage payments.”

About Author

Joshua Dorkin

Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of How to Invest in Real Estate. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it accessible for everyone, regardless of income or education. Today, BiggerPockets is the premier real estate investing website online with over one million members and reaching over 70 million people with the message of financial freedom through real estate investing. Joshua, along with his wife and three daughters, make their home in Denver, Colorado, and spend any time they can traveling, exploring, and adventuring. Read more about Joshua’s story in 5280 and Inc.com.

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