Foreclosures Hit Record High In April 2008

Home Sales Hit 20 Year Low

May 27. 2008

George Bush

More proof the Bush administration has not turned the nation's economic woes around has arrived in the form of news that foreclosures hit a record high last month. 250,000 homes/families went into foreclosure in the month of April. Despite all the government's talk of helping people, this was allowed to happen anyway.

Homes sales have also hit a 20 year low. With the rising cost of living, many people can't afford to buy homes.

The Bush administration also shot down a $290 billion dollar farm subsidy bill, deeming the nation can't afford it. Oh really. But the country can afford a deceitful war costing taxpayers $500 million per day. The war has cost the nation a trillion dollars, when the original number Bush said it would come in at was "50 million." Bombs before food, then, George.

Congress overrode Bush's veto. Only an unwise legislator would not secure a nation's basic needs - food, water and air - making sure it is clean and in adequate supply. Those basics of life always need to be protected.

I think Bush didn't want that massive spending bill going through under his presidency, while the Democrats probably preferred it on his tab. Who cares, the farmers need the help and the country needs to maintain its food supply (look what happened with the rice shortages the other day).

Foreclosure filings hit record in April

Survey sees more than 243,000 filings, up 65% from a year earlier, creating problems for local governments.

Some 243,353 households, nearly one in 519, received a foreclosure filing during April, according to the U.S. Foreclosure Market Report from RealtyTrac, an online marketplace that tracks foreclosed properties. That was up 4% from March, and surpassed the record of 239,851 set in August 2007.

http://money.cnn.com

US home prices fall at record pace

May 27, 2008 20:23 - The gloom enveloping the US housing market intensified on Tuesday as home prices dropped at the fastest annual rate since records began 20 years ago.

http://www.ft.com