Voters ARE Bitter - GOP Economic Policies Hit Home

I continue to wonder what planet Hillary Clinton has be sojourning on if she thinks voters are happy and full of mirth. My day to day dealings with real estate investor clients indicate that many ARE bitter about what has happened to them and the larger economy. This is confirmed by a new Associated Press-AOL Money & Finance poll that found that 60 percent of those surveyed said they definitely won't a buy a home in the next two years. Obviously, that means dire things for the already devastated domestic housing market. In addition, many voters are worried about their ability to continue making mortgage payments. The GOP economic policies of no regulation and delusion have wreaked havoc on the USA. Worse yet, with the cautious if not down right defeated mindset of the public, no upturn seems to be at hand. I can vouch for the fact that the real estate market is utterly dead in this area. Moreover, many real estate investors find themselves financailly strapped and/or are considering filing for bankruptcy protection. Prices have not fallen, but at the same time, very little is selling; Here are some story highlights:

WASHINGTON (AP) -- One in seven mortgage holders worry they may soon fail to make their monthly payments and even more fret that their home's value is shrinking, according to a poll showing widespread stress from the nation's housing crisis. In an ominous snapshot of how the sagging real estate market and sour economy are intersecting, the Associated Press-AOL Money & Finance poll also found that 60 percent said they definitely won't a buy a home in the next two years.

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In today's economic climate, even holding onto what they already have is a challenge and source of distress for significant numbers of homeowners. Nearly three in 10 said they are concerned their home's value will decline over the next two years, while 14 percent of mortgage holders expressed worry that they might miss payments in the next six months.

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One nervous homeowner is Daniel Gallego, a warehouse worker in Stockton, Calif., who said in a followup interview that he may have to sell his house at a big loss. "We may have to move in with my wife's parents or my parents," said Gallego, 30, who has two young children. "I could pay off some debt, then we could rent, and maybe buy another house in a few years."

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The number envisioning falling prices in their area has grown to one in four, while four in 10 think prices will rise, a decrease from two years ago. Expectations for rising prices are highest in the South, with Westerners likeliest to predict they will drop.

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The public anxiety is in reaction to an economy that is veering toward recession and losing jobs even as the housing market sputters badly. Foreclosures have soared to record highs, mortgage rates have increased, sales of existing and new homes have fallen and home values have dropped. Gus Faucher, director of macroeconomics for Moody's Economy.com, a consulting firm, estimated that 9 million homeowners owe more on their home than its worth. He said his company believes home sales are at or near bottom and home values will continue to fall until early next year.