As the presidential campaign season continues to progress, one of the vital issues at hand is the nation’s mortgage foreclosure crisis which is very much imminent in Cape Coral
properties. Recently, when Mitt Romney visited the controversial battleground state of Florida, he addressed the issue of the nation’s mortgage foreclosure problems which has gone worst in the state.
Cape Coral foreclosures may beckon prospective home buyers to the properties of their dreams but the fact that Florida has an excessive rate of foreclosures is a sign of a much greater crisis in the economy. Romney during his visit promised no new prescriptions in policy to address the problem especially to people whose homes were worth lesser that they owed.
What he suggested instead was a far better remedy he said which was a stronger economy. Although he made contradicting statements earlier which involved letting the market hit bottom in order to correct itself , Romney who is a former governor of Massachusetts this time, gave a vague albeit assuring message to his audience: “People in Florida have seen home values go down,” he said, striking an empathetic tone. “It’s time to turn that around.”
Most of the people in the audience were struck by the real estate crisis and believe that Romney, as a successful businessman was the perfect person that can help them address the problem. Eric Brandon, 41, a nurse who paid close to half a million dollars for his two-story, four-bedroom home in Florida in 2005. The property is now worth $130,000. Brandon said, “As long as people have jobs, they will be able to buy houses. The economy is my issue, and I know Romney is strong on that.”
The housing crisis is perhaps the most long-term legacy of the economic crisis affecting the current state of Cape Coral foreclosures. The primary battle is the first important assessment of how it will turn out as a political subject in the race.
As the Republican presidential campaign moves deeper into Florida’s housing crisis the aspiring candidate tackles the tricky topic where there should be prevailing balance between free market senses and how to address the big demand and call to action among homeowners. But then again it is also true that the solution lies in the establishing a healthier economy where people are able to pay for the mortgage on time for the housing that they have chosen and have committed to pay.
Read the journey to recovery of Cape Coral after the depressing crisis they had experienced.