Posted on 09/06/2012 9:58:02 AM PDT by blam
Prepare For The Coming Housing Collapse Part Two
Keith Jurow, Contributor
September 6, 2012
Keith Jurow is a former senior economic writer for the Holt Investment Advisory, who researches and writes about the housing market.
. Editor’s Note: BUSINESS INSIDER has been featuring Keith Jurow’s housing market articles regularly for the past two years. He is the author of Minyanville.com’s Housing Market Report.
In my last BUSINESS INSIDER article posted in May, I explained why a housing collapse in major metros was coming and why you needed to prepare now. Since then, Wall Street economists, analysts and other pundits have smugly noted that a consensus has been reached that housing is bottoming. So it’s time for me to show you why this consensus view is pure rubbish.
For months, a slew of pundits have pointed to figures which allegedly show that home prices are now on the rise around the country. Nearly all refer to the Case-Shiller price index which has become the gold standard of what’s going on in housing markets. The June index revealed that the year-over-year price declines for 20 major cities had finally ended. Prices in June were higher than May in most of these metros. Analysts were most excited by how Phoenix had turned around. The Phoenix index was up by nearly 14% year-over-year.
Okay, let’s see what is really occurring in Phoenix. My source is Phoenix realtor, Leif Swanson, whose charts I have used in several previous articles. It is not an index and shows the raw sales data for homes sold in Maricopa County where Phoenix is situated. Here is his latest chart which shows the historical percentage of all homes sold in Maricopa County that were lender repossessions.
(snip)
(Excerpt) Read more at businessinsider.com ...
This is depressing, blam. I’ve been trying to sell my CO. home for almost two years..was hoping a Bam Slam would help.
But, but, but... it can’t be! Clinton just told us that the Obamessiah is going to make all the bad stuff go away, didn’t he?
The Left wants us out of our homes sand out of our cars. I just hope there are more of us than there are of them!
And the stock market is up 2% at this time today.
There is far more than "lender repossessions" going on in real estate throughout the United States. Home sales, for instance, include transactions other than "lender repossessions" -- transactions where property is often gutted by owners on their way out.
I am not sure basing a national trend prediction on Phoenix is really valid. They have had real housing issues for decades. Not sure what has been going on but I do know that a lot of manufacturing moved out and the city never really recovered.
Great!!
Sorry.
...and the beat goes on.
... and the beat goes on.
Looks a lot like the FED is busy...
I think the next huge crisis will be Student Loans.
I would like a disclosure of big buyers, like the Fed, and the left wing CEO’s of Google, Yahoo, and the like : )
Me too Mary, me too. Almost two years, and mine is in VA. Should have sold in less then a couple of months.
It's an intense book, but well written, interesting, and well documented with literally hundreds of footnotes from various sources, including Congressional hearings and other historical documents so that you can verify for yourself that what Griffin has written is accurate and true.
He exposes the lies told by politicians and bankers who first formed the cartel known as The Federal Resereve Bank, a quasi-governmental but private institution which exists solely to serve as a mechanism to steal money from the American taxpayer, it exposes liars of the Federal Reserve system and Treasury Department, such as Bernanke and Hank Paulson, and bank CEO's/Board Officers which the Federal Reserve serves to benefit, such as Citibank and Goldman Sachs (the bank for which Paulson was a previous Chairman and Chief Executive Officer). The Federal Reserve is to blame for much of our economic ills. Those who belong to it and promote it are in cahoots for lying to and stealing from the American people through inflation (which occurs with 'quantitative easing, or QE', when dollars are printed, through Treasury Bonds being purchased and sold, etc.
If you're outraged now, it's nothing compared to how outraged you'll feel after reading the book. I'm hoping when enough people become less ignorant as to how bad the Federal Reserve system (a cartel) is, it will at least begin to dawn on people why we need to get rid of the Federal Reserve.
The Creature From Jekyll Island
12 Part video of a speech on the creation of the Federal Reserve, by the author of the book by the same name, G. Edward Griffin, also speaking.
Part 1 http://www.youtube.com/watch?v=7auQEXTWomA
Part 2 http://www.youtube.com/watch?v=ZsxDmzl19Yo&feature=related
Part 3 http://www.youtube.com/watch?v=Zp2yJldtKQI&feature=related
Part 4 http://www.youtube.com/watch?v=xISSTVF_KgM&feature=related
Part 5 http://www.youtube.com/watch?v=ie1H0EodcDU&feature=related
Part 6 http://www.youtube.com/watch?v=eJ4fNcJslO8&feature=related
Part 7 http://www.youtube.com/watch?v=yHuM6NRlAaQ&feature=related
Part 8 http://www.youtube.com/watch?v=dBcurfZKDWQ&feature=related
Part 9 http://www.youtube.com/watch?v=N_HXSfiOZtU&feature=related
Part 10 http://www.youtube.com/watch?v=qcpaCto8bsE&feature=related
Part 11 http://www.youtube.com/watch?v=c1hsVvnoCXU&feature=related
Part 12 http://www.youtube.com/watch?v=CRaMHiSCrzU&feature=related
Awesome! Thank you for posting the links.
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