Marc Ambinder was sent a letter by a Democratic economist and asks whether the political world is ignoring the economy. I wonder if it matters?

Doesn’t the economy re-assert itself? re:

"When I come back I want to come back as the bond market, because then you can intimidate everybody." — James Carville, Political Consultant

I have certainly been arguing that the housing market is an important issue.

For my gloom and doom of the day, yesterday RealtyTrac released their Midyear Metropolitan Foreclosure Report. The full table is on the right, but here are some highlights:

  • One in 31 households are in foreclosure filings in the Las Vegas area. That’s a swing state and a primary state.
  • One in 46 in Miami, 20k.
  • Another one in 50, for 16k more a little up the road in Ft. Lauderdale.
  • 19k, or one in 50, in the Cleveland area.

There are real people behind these numbers. And their pain will reassert itself, no matter what the politicians try to ignore

Categories: economy

1 Comment » How housing plays out · September 16, 2007 at 10:13 AM

[…] I do not believe that this is a map for the future of the country, simply because Fort Myers is one of the municipal areas most severely hit by the housing crisis. However, Las Vegas, Denver, Miami, Phoenix, Jacksonville, Columbus, and Tampa are cities that have been. If those areas go through this kind of economic pressure, it is going to be very hard. And those are all in swing states or swing regions. […]

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