Another presidential election is looming on the horizon and one of the hottest topics on debate is the housing crisis. Despite improving housing market data, most voters are listening hard to what candidates' policies are when it comes to the issue of foreclosed houses.
Some members of the public have criticized the candidates during the primaries for allegedly spending more time bickering and blaming each other, instead of finding a solution to the foreclosure crisis. Improving market or not, Americans are still focused on the issue of housing, given that most of their net worth are tied up with their properties.
Better Picture of Shadow Inventory
The number of foreclosure homes for sale continues to rise as properties in shadow inventory enter the market in droves. This results in further increases in the supply of residential properties for sale, but may not be as bad as some may initially perceive.
The fact that these distressed dwellings are coming out of the woodwork is a good thing in a way that it will provide a clearer picture of the true condition of the property market. And this is what most voters are looking for in their candidates – a clearer picture of what they intend to do with the housing problem.
Demand for Government Action
A lot of local housing markets are reporting improved numbers, although most expect their recovery to take some time. Despite figures showing a stabilizing housing market, Americans are still demanding further actions from the government.
And who can blame them? For the most part, the administration has been criticized for its so-called hit and miss policies aimed at solving the foreclosure crisis. With the presidential election coming within the year, a lot of voters are waiting to hear more from the candidates to see whether this time, a more definitive solution is at hand.
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