[Occupymendocino] Underwater

[Richard Karch]

http://www.readersupportednews.org/opinion2/277-75/13013-van-jones-underwater-voters-have-message-for-obama

Underwater Voters Have Message for Obama

By Van Jones, Reader Supported News

19 August 12

  
sk a political reporter, and they'll tell you the biggest story of the past week was Romney's selection of Paul "End Medicare" Ryan as his running mate. (I'll have more to say on him, soon). But that's not the only story. If you look more closely at what's been happening over the last week, you'll see hints of what we'll all be talking about in October: homes.

Remember how the banks shattered the housing market and got a helping hand from the American taxpayer? Well, those taxpayers are still in trouble, five years later. 1 in 3 mortgages is underwater -- meaning 40 million Americans owe the bank more than it is worth in today's new, post-bubble market. And it's not just homeowners who are affected! When people are putting the extra cash they save up toward their big loan balance instead of a night out or a new TV, it's a drag on our economy. Federal Reserve Chairman Ben Bernanke agrees that the housing crisis is blocking our economic recovery.

If numbers alone don't break your heart, maybe stories will. Jaime Gonzalez, a retired police officer and grandfather, is one of those underwater homeowners and voters. He is losing his shirt trying to keep up with interest payments on his modest Florida home, but is unable to refinance or sell while his home is underwater....  (go to link for rest of story)


http://www.readersupportednews.org/opinion2/277-75/13013-van-jones-underwater-voters-have-message-for-obama

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