Upcoming Foreclosures

Should Obama be worried that foreclosures during April are UP 32% from last year?

Seems like this whole house of cards is coming down soon enough. http://finance.yahoo.com/news/RealtyTrac-April-foreclosures-apf-15225719.html The number of U.S. households faced with losing their homes to foreclosure jumped 32 percent in April compared with the same month last year, with Nevada, Florida and California showing the highest rates, according to data released Wednesday. Ohio was in the top 10............"We've never seen two consecutive months like this," said Rick Sharga, RealtyTrac's senior vice president for marketing. "It's the volume that's surprising." While total foreclosure activity was up, the number of repossessions by banks was down on a monthly and annual basis to their lowest level since March of last year, RealtyTrac said. But that's far from positive news. Because much of the foreclosure activity in April was in the default and auction stages -- the first parts of the foreclosure process -- it's likely that repossessions will increase in coming months, RealtyTrac said. alarmist...........I didn't forget. alarmist........also, are you implying these numbers are somehow positive??

Public Comments

1. No. He has a 4-year lease.
2. Yes he should be worried he has bet this countries future on his plan and has spent a lot of it already.
3. Yo kno, I was just axing myself that same question... Let me check with my homeland security girl and get back to you on that
4. Here is part of the article that for some reason, you forgot to include: "The April number, however, was less than one percent above that posted in March, when more than 340,000 properties were affected. The March data was up 17 percent from February and 46 percent from a year earlier." I'll bet you think you were being objective, too.
5. These people only care about themselves, no they're not worried
6. Why would he care? Rezko got him a sweet deal on his house in Chicago, and he's rent free in D.C. You don't possibly think he would worry about us do you, his own brother lives in a shack and his Aunt is living illegally off the system. @Alarmist .... May's housing is down from April and so is spending. FYI
7. Obama has a lot to worry about.
8. Doesn't bother him. He will simply point fingers at the previous administartion and blame Bush, then do nothing. Why would he change ?
9. let's see if they are up 32% again next year this time
10. Don't put this at Obama's feet. The banks around here are still lending money to unqualified people, 5% down, poor credit, the very same thing they were doing that got us into this mess.
11. I think he pretty well covered that when he said things would get worse before they get better. Those houses are part of a larger problem, they must be purged from the system before things improve. Kind of like taking a laxative.
12. Why should Obama be worried? He'll just say he inherited the problem from Bush and require judges to write down mortgages so his lower-income fans can "afford" them. If something isn't done, we're going to see housing values go through the floor, which will cause the financial ruin of many of the 70 million boomers on the edge of retirement.