Foreclosure Acitivity at the Lowest Level Since 2007

     The green shoots keep coming in. In the last post we looked at this weeks jobless claim numbers-for last week of course-and at 339,000-a 40,000 plunge over the previous week-it was the lowest number since February 2008. This on top of last Friday's job numbers which pushed down the unemployment rate to 7.8%.

     "In another sign that the still shaky housing recovery might be finding its footing, foreclosure filings in some of the hardest hit states of the housing crash have plummeted dramatically, and overall the nation is seeing the lowest level of foreclosure activity since 2007."

     "Foreclosure filings, which include notices of default, scheduled auctions and bank repossessions, were reported on 531,576 U.S. properties during the third quarter of this year, according to RealtyTrac, a foreclosure sales and data website."

     "That is a decrease of 5 percent from the second quarter and a decrease of 13 percent from the third quarter of 2011. One in every 248 U.S. housing units with a foreclosure filing during the quarter."

 

      http://www.cnbc.com/id/49371943

 

      As it was suggested when the Hurricane messed up the RNC in Tampa earlier, we're getting some signs that maybe Mother Nature is not a Republican. After all, while Romney is trying to claim that the President has crushed the middle class and that "this is not a real recovery" we are seeing many signs of the opposite.

 

      We have a foundation in place where we should have a growth economy soon. As long as we can dodge the Romney bullet-which would literally end the New Deal and explode the deficit in tax cuts for the rich-the next 4 years are virtually certain to be better than the last 4.

 

       I suspect this is probably the cynicism behind Romney's promise of 12 million new jobs in his first term. It may we'll be that we will see those numbers no matter who's in office-thanks the President's policies.

 

       Maybe in America you're not supposed to talk about Europe during an election. You can't just say compare our progress to that of Britain and Europe. Yet if you do you see that we've done better than countries like Britain who have embraced austerity. We would have had Cameron's austerity here if the President had been a Republican.