A Home Is Foreclosed Every 13 Seconds
The economic crisis started with home foreclosures, and the numbers are getting worse. According to the Center for Responsible Lending (CLR), a non-partisan research and policy group, some 6,600 homes are foreclosed every day: one every 13 seconds. Experts agree that helping homeowners is key to helping the entire economy.
Writing at Congress Matters, David Waldman, aka Kagro X, says new numbers from CLR show that projected foreclosures by congressional district are concentrated in five states: California, Florida, Nevada, Arizona and Georgia. In fact, there’s not a congressional district in the top 50 that isn’t in one of these five states. The most troubled districts are represented by Republicans, he reports. Republicans hold just over 40 percent of the seats in the House, but represent 60 percent of the top 10 most troubled districts.
