Boxer Bites...Homeowners

Another day, another study showing that the big-government policies Barbara Boxer loves so dearly aren’t doing anything to get our economy back on track. But they’re working remarkably well at killing jobs and forcing Californians out of their homes. Today, RealtyTrac, a real estate data company, is out with a report that shows California has one of the highest foreclosure rates in the nation. And with unemployment at a dismal 12.3 percent, job loss has become the leading cause of foreclosures here and across the country.

California Is One Of The States Hit Hardest By Home Foreclosures. “RealtyTrac, an online marketer of foreclosed homes, said that California, Florida, Arizona and Nevada continue to lead the nation in the rate of foreclosures. Las Vegas was the worst-hit city. But now unemployment has replaced toxic mortgages as the leading cause of foreclosures throughout the country, according to spokesman Rick Sharga.” (Les Christie, “Foreclosures Climb In 75% Of Metro Areas,” CNNMoney.com, 7/29/10)

Eight Of The Top 20 Metropolitan Foreclosure Rates Are In California. (RealtyTrac, “75 Percent Of Nation’s Top Metro Areas Post Increasing Foreclosure Activity In First Half Of 2010,” Press Release, 7/29/10)

As Of June 2010, California’s Unemployment Rate Stands At 12.3 Percent. (Bureau Of Labor Statistics Website, data.bls.gov, Accessed 7/29/10)

The situation is particularly bad in the Central Valley. But that’s no surprise given the fact that Barbara Boxer’s job-killing policies have especially affected the Valley: of the 12 metropolitan areas across the nation with unemployment rates above 15 percent, 10 are in California and seven are in the Central Valley.

Merced And Modesto Rank Third In The Nation For Their Rate Of One Foreclosure For Every 22 Households. “Las Vegas had one filing for every 15 households in the metro area. The second highest rate was in Cape Coral/Fort Myers, Fla., with one for every 20 households. Two California cities, Modesto and Merced, tied for third with one filing for every 22 households.” (Les Christie, "Foreclosures Climb In 75% Of Metro Areas," CNNMoney.Com, 7/29/10)

Unemployment In Merced Stands At 18.1 Percent, While Unemployment In Modesto Stands At 17.3 Percent. (Bureau Of Labor Statistics Website, data.bls.gov, Accessed 7/29/10)

Stockton Ranks Sixth, Bakersfield Ranks Twelfth And Visalia Ranks Nineteenth In Metropolitan Foreclosure Rates. (RealtyTrac, “75 Percent Of Nation’s Top Metro Areas Post Increasing Foreclosure Activity In First Half Of 2010,” Press Release, 7/29/10)

Unemployment In Stockton Stands At 16.5 Percent; Unemployment In Bakersfield Stands At 15.7 Percent; Unemployment In Visalia Stands At 15.8 Percent. (Bureau Of Labor Statistics Website, data.bls.gov, Accessed 7/29/10)

So while multimillionaire Senator Barbara Boxer is busy lining her campaign war chest with special-interest cash and parading around the state declaring that the failed “stimulus” has in fact worked, more than 2.2 million Californians are without jobs and hundreds of thousands are losing their homes. At the same time, Barbara Boxer is willing to sit idly by as the largest tax increase in American history is looming over our heads. Boxer can duck into fundraisers and avoid the unemployed all she wants, but she cannot hide from the facts.

And the facts bite.