the U.S. Senate will soon have the opportunity to vote for legislation that will help lift struggling homeowners, neighborhoods and our economy. This bipartisan housing bill--forged through compromise and cooperation on the part of Senator Dodd, Senator Shelby and others, is not perfect. It is not a magic bullet that will solve the problem. Either coauthor would be the first to say that. But it is an important step. Experts now predict 3 million foreclosures in the next 2 years. Another 45 million homeowners will experience reduced value in their homes as a result of these foreclosures. Nevadans are facing the fallout of this crisis more than any other state. In February alone, one out of every 165 homes was in foreclosure. That is the highest rate in America. Nevada's economy is suffering, just as it is throughout America, and this bill will help begin to turn things around. If passed into law, the housing bill now before us would improve the prospects and options for families and communities all across our country.
Editor's note · Context
Discussing a bipartisan housing bill aimed at addressing the foreclosure crisis.
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