White House winner will have to deal with housing, European debt problems

The election is all about the economic recovery in the next presidential term: the broken housing market and the European debt crisis.

In this Sept. 21, 2012, photo, fliers are stacked on the granite counter of a new home for sale in Oklahoma City. U.S. sales of new homes jumped in September to the highest level in more than two years, further evidence of a sustained housing recovery that could help lift the lackluster economy. The Commerce Department said on Wednesday, Oct. 24, 2012, that new-home sales rose 5.7 percent in September to a seasonally adjusted annual rate of 389,000. That's up from a rate of 368,000 in August and the highest rate since April 2010, when a federal homebuyer tax credit inflated sales. (AP Photo/Sue Ogrocki)

In this Sept. 21, 2012, photo, fliers are stacked on the granite counter of a new home for sale in Oklahoma City. U.S. sales of new homes jumped in September to the highest level in more than two years, further evidence of a sustained housing recovery that could help lift the lackluster economy. The Commerce Department said on Wednesday, Oct. 24, 2012, that new-home sales rose 5.7 percent in September to a seasonally adjusted annual rate of 389,000. That's up from a rate of 368,000 in August and the highest rate since April 2010, when a federal homebuyer tax credit inflated sales. (AP Photo/Sue Ogrocki)

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