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 (@jrdorkin, Google+) founded BiggerPockets.com when he saw a need for free, trustworthy information about real estate investing online. Over the past 12 years, Josh has grown the site from self-funded hobby to full-time job and passion. Today, BiggerPockets brings together over 850,000 members, housing the world’s largest library of real estate content, iTunes’ #1 real estate podcast, and an array of analysis tools, all geared toward helping users succeed.

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