There is new evidence that the worsening economy played an important part in the last election. Realty Trac®, publisher of the largest national database of foreclosure properties in their October report shows Nevada has the highest per capita foreclosure rate for the 22nd straight month. During the month, one out of every 74 housing units received a foreclosure notice, more than six times the national average. The increase was 11% from the previous month and 119% from this time last year.
Of the 230 metro areas tracked, Las Vegas was the highest ranked with one in every 62 units foreclosed, seven times the national average. Total foreclosures in Nevada were 14,483 with 12,155 in Las Vegas.
Realty trac’s related website, Foreclosure Pulse, notes that of the 10 highest foreclosure states, 8 voted Democratic in the last election. Of the 184 electoral votes, Senator Obama received 159 to Senator McCain’s 25. The swing states of Nevada, Colorado and Ohio, which all went Republican in 2004, and which all made the top 10 this year, went Democratic with 34 electoral votes.
With all the talk of hope and change, and what’s wrong with conservatism, “It’s the economy, stupid” is still a powerful argument.
Cross Posted from All American Blogger Nevada Edition, Written by Ron Andersen.
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