http://sorendayton.com/2007/07/02/more-on-the-housing-bust/ Merely an aggregation of a dispersed life online Sun, 29 Jan 2012 16:32:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://sorendayton.com/2007/07/02/more-on-the-housing-bust/comment-page-1/#comment-1025 Ankle Biting Pundits » Blog Archive » The Bush Boom Continues Thu, 05 Jul 2007 19:41:33 +0000 http://www.eyeon08.com/2007/07/02/more-on-the-housing-bust/#comment-1025 [...] Nevertheless, Soren Dayton has been drilling down on one economic issue that might radically impact the 2008 presidential and congressional elections: The housing bust. A rapidly growing segment of Americans will foreclose on their homes by the 2008 election, and they aren’t all sub-primers who probably don’t vote Republican anyway. According to the Wall Street Journal: Many borrowers who run into trouble have relatively low incomes or scuffed credit records. But housing counselors say they are also hearing from a growing number of middle- and upper-middle-income borrowers who borrowed heavily to finance spending or buy a house they could barely afford. NeighborWorks Homeownership Center in Sacramento, Calif., says that 38% of the borrowers it’s seen this year have “moderate or above-moderate” incomes, up from 24% last year. [...] [...] Nevertheless, Soren Dayton has been drilling down on one economic issue that might radically impact the 2008 presidential and congressional elections: The housing bust. A rapidly growing segment of Americans will foreclose on their homes by the 2008 election, and they aren’t all sub-primers who probably don’t vote Republican anyway. According to the Wall Street Journal: Many borrowers who run into trouble have relatively low incomes or scuffed credit records. But housing counselors say they are also hearing from a growing number of middle- and upper-middle-income borrowers who borrowed heavily to finance spending or buy a house they could barely afford. NeighborWorks Homeownership Center in Sacramento, Calif., says that 38% of the borrowers it’s seen this year have “moderate or above-moderate” incomes, up from 24% last year. [...]

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