Realtytrac: Job Losses Now Drive Foreclosure Rates! No Sh*t Sherlock and President Obama Wants Everybody to Believe the Recession is OVER!

This is President Obama's MISSION ACCOMPLISHED!!!

It doesn't take a rocket scientist to have seen this coming!!! For those of you who don't remember, "Mission Accomplished" is the statement that former President George Bush declared in 2003 regarding the Iraq war claiming victory. As you all know, 6 years later we are still in Iraq.

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The Jackson Sun
Realtytrac: Job losses now drive foreclosure rates
written by Ned B. Hunter, Reporter

The nation's growing foreclosure rates may now be caused more by unemployment rather than subprime mortgages, according to a news release from realtytrac.com.

Realtytrac believes the shift is occurring for two reasons:

•Some states previously experiencing high foreclosure rates have seen those rates decrease.

•Some states with previously low levels of foreclosures are seeing an increase.

"As unemployment rates increase in different parts of the country," wrote James J. Saccacio, chief executive officer of Realtytrac in a news release, "it's very likely that we'll see similar patterns develop elsewhere."

There were 55 foreclosures in Jackson this May, according to realtytrac.com, a nearly 31 percent increase from May 2008 when 42 homes went into foreclosure.

"Cities in California, Florida, Nevada and Arizona continued to document the nation's highest foreclosure rates in the first half of 2009," the news release states.

But more than 20 percent of the cities showing above average foreclosure rates are in Oregon, Idaho, Utah, Arkansas, Illinois and South Carolina. Realtytrac officials believe that data means the majority of recent foreclosures are now related to growing unemployment instead of subprime or adjustable rate loans, the release states.