Posted on 03/23/2010 6:46:09 PM PDT by RobinMasters
Bankruptcy is certain.
Dissolution is probable.
Civil war is possible.
There are just 9 people who stand in the way of complete disaster for this country. If they rule the wrong way it will come upon us like I dont know what.
Look at the site drhousingbubble.blogspot.com. He has actually done the research in the LA area. The number of homes in the shadow inventory versus the multiple listing index is around 500 percent! This includes notices of default, houses currently in foreclosure and houses being held off the market so as to not depress neighborhood values. His research is solid.
I know it sounds corny but this reminds me so much of Red Dawn....remember what happened to the mayor?
I swear my husband is safer than I am and he is in Afghanistan!
“Could? COULD?
It IS collapsing even as we see it.
One only need look around.
See any new homes being built?”
As I mentioned March 06, 2010- here:
http://www.freerepublic.com/focus/f-news/2128550/posts?page=2530#2530
‘I had to drive a circuitous route yesterday, all around my county instead of the usual shopping trip... newly built strip centers?
Emptying out. Signs, “first month free!” “Ask about our new lower prices!”
Homes for sale, all over.
Real estate offices? Nary a car, not even staff.
The temporary employment firm? Closed tight.
The county’s first billion-dollar “condo conversion?” Being pursued for back taxes and “breach of promise.” ( They kept taking money, and didn’t build any of the promised stuff. )
If it weren’t so awful, it would be comedic- like a parody or satire of ghastly news.
“’Tis but a scratch!” ‘
“When anarchy begins Obama will call out the troops and suspend the Constitution.”
When anarchy begins Obama will call out the troops and the troops will remove obuma.
I don’t fear a collapse, I welcome it. What better way to demonstrate to the world, once again, that communism doesn’t work.
A local agent has said that a company meetings they are told that the national number is around 11 million. This same figure was mentioned when we asked our other agent in the market we are buying in. They are 1000 miles apart. Does 11 mil sound right?
The power of this magnitude to release or evict by the Fed Gov can be wielded to bring a nation to its knees.
The democrats won’t be satisfied until the
freight trains are filled with unemployed looking
for work.
Even my 87 year old mom can see it.
While driving her around she says,
“Look at all those empty strip malls...”
Kind regards to your Mom- one thing I love about the old folks- the sharp ones-- is that they've seen this stuff ( And con artists like the _Resident ) many times before.
When you factor in the option arms-pick’n’pay, alt-a resets, the overhang could well reach that number. Also when you consider that somewhere around 20 percent of all homeowners are underwater with their mortgages and there’s around 80 million mortgages out there, the numbers get pretty scary.
The mortgage modification business with federal giveaways was not designed to help the homeowner. Rather it was created to give a price support to the banks so they wouldn’t have to take major hits to the value of their mortgage portfolios.
The upside to this, if there is one, is that the banks do not want anymore foreclosures. Therefore, they are more willing than ever to cut principal and cut interest way down and extend the loan for up to 40 years.
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