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Housing Market Becomes Political Issue

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  • Description

    FBN’s Peter Barnes on the housing market’s impact on the Presidential election.

  • Duration 2:09
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This -- new housing survey released today shows that 18%.

Of homeowners are still underwater on their homes key battleground states Nevada and Florida were among the hardest hit Peter barges in DC so Peter.

Both the president and Mitt Romney are actually using this news on the campaign trail right.

Well not as much -- and then actually hasn't been a whole lot of noise about all of this.

But it's it is an issue to some voters.

-- there are as you said 18%.

Of homeowners and and these are ones by the -- still making timely payments or not delinquent.

They're under water with their homes homes worth less than the outstanding balance on the loans.

That is nearly ten million homeowners in this election years -- the issue does matter to some voters the problem.

However is especially bad in several key battleground states according to lender processing services and Nevada 55%.

Are under -- in Florida it's 33% in Michigan.

It's 30%.

We know that has that negative equity amount increases we see new problem loans entering the system.

At a larger.

The larger -- But -- said it's a little hard to tell how all this is playing out in the election nationally Gallup poll in May found that 74% of voters ranked home values foreclosures and mortgages.

As very important or extremely important economic issues but voters split about evenly on which candidate could tackle housing problems better.

But in Florida on Friday Romney launched new ads slamming the president over falling home values there.

Here in Florida we're not better off under President Obama home values collapsed home construction jobs lost -- high rate of foreclosure.

But get this -- New York Times poll in August found that just 22% of Florida voters considered housing and foreclosure issues.

Extremely important to their votes dead at the last of seven issues -- David and wow wow it's a fitness surprise.

So what -- it right now given I don't think it's an important -- -- thank you.

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