Fairfield County Home Prices Hardest Hit in Country

Statement

Today Steve Obsitnik, candidate for U.S. Congress in Connecticut's 4th Congressional District released this statement on declining home prices in Fairfield County.

"Today we learned Fairfield County has been the hardest hit area in the entire country by declining home prices. Federal housing data shows home sales fell by 12.9% annually.

This news comes as no surprise to most Fairfield County homeowners, but it will make them stop and think about why we are in this devastating position.

For the past four years, Jim Himes has been spending taxpayer money with reckless abandon in Washington D.C. Today our national debt stands at $16 trillion, up from $9.2 trillion when Himes got to Congress. Meantime, the Dodd-Frank bill, supported and voted for by Jim Himes, is killing the banking industry with suffocating regulations.

As Bloomberg News says, "the connection between the poor housing performance -- a surprise considering the state's proximity to Boston and New York -- and the struggling banking industry is clear."

Bloomberg reports Connecticut lost 3,900 financial service jobs last year alone, and with the high number of foreclosures on the horizon, it's clear we need to do something to jumpstart the economy, fast. When I get to Congress I will fight to reform the tax code, reduce the debt and deficit, and cut job-killing regulations.

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