As part of my series analyzing the article suggesting that Obama has changed the economy for the worse, let’s now move on to the seventh claim: that there were a record number of home foreclosures during Obama’s presidency.
This one is pretty easy to research. According to these data from RealtyTrac and the Federal Reserve, indeed there was a record number of home foreclosures during Obama’s first term so this claim is technically TRUE.
However, the author uses the claim to imply that the foreclosures are evidence of Obama’s failure in economic policy. However, the record number of foreclosures began during the mortgage crisis, long before Obama even took office since the end of the crisis there has been a downward trend such that we are now back to pre-crisis levels:
Fore a detailed breakdown of foreclosure trends, see this report from RealtyTrac.
CONCLUSION: Yes, there was a record number of foreclosures during the worst mortgage crisis in history (duh), which began long before Obama took office. Now we’re back to pre-crisis levels of foreclosures.