Housing policy virtually a no-show at both parties' conventions

Why has housing, which traditionally leads the economy out of recessions, suddenly become a political orphan this election?

WASHINGTON — Call it the political elephant in the room: 1.2 million families across the country are at some stage of foreclosure, 3.8 million homeowners have been foreclosed upon since September 2008, 11.4 million are underwater on their mortgages and $6.5 trillion in home equity has been lost by owners since 2005.

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