SUBMITTED NEWS RELEASE
New numbers released today show an increase in foreclosures across 75 percent of America’s metropolitan areas during the first half of 2010. Nevada is among the states worst hit by this increase, and the numbers show Las Vegas as the worst city in the entire country for foreclosures. One in every 15 homes in Las Vegas has been foreclosed upon.
Researchers assert that the prime cause of these high foreclosure rates is no longer the toxic loans of the housing crisis but the staggering unemployment rate. Nevada’s 14.2 percent unemployment rate–the highest in the nation–has left the state particularly vulnerable to these new rounds of foreclosures.
Jerry Stacy, a spokesperson for U.S. Senatorial candidate Sharron Angle, said that Sen. Harry Reid’s failed economic programs continue to worsen the circumstances facing Nevadans.
“Harry Reid’s policies have caused Nevadans to lose their jobs and now their homes. Nevadans can’t wait around–they need help today, and it’s not ever going to come from Harry Reid,” Stacy said. “We need a senator with fresh ideas that can return us to prosperity–a senator like Sharron Angle.”