Romney: Nevada Housing Crisis Shows Obama Failures

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RENO, Nev. (AP) - Mitt Romney says Nevada's housing market would rebound if federal mortgage backers sell the thousands of homes they hold and make more options available to avoid foreclosure.

The presumptive Republican presidential nominee says that getting homes out of foreclosure and on the market will spur buying and rejuvenate Nevada's housing slump.

Romney says Nevada's lingering housing woes show the president's policies haven't worked. He spoke to the Reno television station Tuesday.

His comments are in contrast to earlier remarks, when he said the foreclosure process in Nevada should be allowed to "run its course and hit the bottom."

Nevada has one of the highest foreclosure rates in the nation, and more than 60 percent of homeowners owe more on their homes than their properties are worth.