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Public Statements

Star Parker Confronts New Foreclosure Numbers

Press Release

By:
Date:
Location: Long Beach, CA

Star Parker, candidate for Congress in California's 37th district, which includes Carson, Compton, Long Beach, Signal Hill and parts of Los Angeles County, again expressed her concern over the latest home foreclosure news announced yesterday.

"Once again we see home foreclosures ratcheting up to record levels, with absolutely no end in sight," Ms. Parker declared.

Parker was responding to two reports, one from RealtyTrac Inc, which announced that home seizures had reached a new record for the third time in five months.

"Bank repossessions have now climbed 25 percent from 2009 to 95,364, the highest recording since RealtyTrac began keeping the records in 2005," Parker continued. "These numbers present a bleak picture with one out of every 381 U.S. households receiving foreclosure notices."

Foreclosures are continuing to drag down the entire economy while growing the housing supply that may add as many as 12 million homes to the U.S. market.

"In my own state of California the tracking firm ForeclosureRadar reports that notices of default rose for the fourth consecutive month, jumping another 16.6 percent in August alone. Many of the 17,841 foreclosure sales in August in California last month are in my district, a disproportionate number. This represents another increase of 15.6 recent compared to July," Parker concluded.

"Obvious to everyone is the fact that the Obama administration and the Democrat-controlled congress continues to present programs that are not working. Voters need to send a clear message to them in November that says government needs to get out of the way of those in the private sector that know how to create jobs and grow the economy," Parker stated in her closing remarks.

Star Parker is the founder and president of CURE, the Center for Urban Renewal & Education, and a syndicated columnist for Scripps News Service, offering weekly op-eds to more than 300 newspapers worldwide. Today, Star is challenging one-term incumbent Rep. Laura Richardson for California's 37th Congressional District which includes Long Beach, Carson, Compton, Signal Hill and other municipalities in Los Angeles County.


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