to creating jobs, helping troubled borrowers avoid foreclosure and providing incentives for home buyers, lenders could soon unleash a torrent of real-estate owned, or “REO” properties — even in markets already flooded with an oversupply of homes for sale. “It’s almost like a tsunami — you can see it coming and you know it’s going to hit but you can’t get out of the way,” said Ann Stickel, vice president of affiliated services with Sarasota, Fla.-based brokerage Michael Saunders & Co. So how …
it’s means that all the people buying foreclosed homes could have bought it for 75% less if they waited
Report Spam/Abuse
Is God an absentee Landlord? Wake UP people. Capitalism is SORCERY
Report Spam/Abuse
If capitalism is sorcery, then what system would you support? Socialism, Oligarchy, what…
I take it that a meritocracy is sorcery? If we believe you.
Report Spam/Abuse
But the problem is people don’t want to wait people want to buy it now and these buyers don’t have a lot of money. If they lose their jobs, which I’m sure they will, their homes will be foreclosed.
Report Spam/Abuse
Believe it or not some people are still offering above asking price.
Report Spam/Abuse
BVonMoss,
We are looking to relocated as expatriots. What country are you living in? And do you like it? We’re currently researching.
Thanks!
Ashwood
Report Spam/Abuse
No, it’s not capitalism, it’s corporatism, and federal reserve “lender of last resort” socialism. It distorts risk assessment, the increase in money supply allowed these home prices to expand, because banks had access to easy credit which facilitated the malinvestment and disposal of lending standards. Capitalism is a way of life.
Report Spam/Abuse
There is a way to hold predatory lenders responsible, help people to keep there homes, and not put the tax burden on future generations. It is called term ownership. Do the research and tell your senator about it before it’s too late.
Report Spam/Abuse
We need 30 year fixed mortgage rates to be 2.5 % or lower to survive this crisis. Check out Fix Housing First.
Report Spam/Abuse
Everyone should search WIKIPEDIA for 1) FEDERAL RESERVE SYSTEM AND 2) UNITED STATES DOLLAR…..”The U.S. Treasury, through its Bureau of the Mint and Bureau of Engraving and Printing, actually produces the nation’s cash supply and, in effect, sells it to the Federal Reserve Banks at manufacturing cost, currently about 4 CENTS PER BILL for paper currency. The Federal Reserve Banks then distribute it to other financial institutions in various ways.[22].”
Report Spam/Abuse
4 CENTS PER BILL – I first assumed that they are talking about ONE DOLLAR BILLS but after reading it again, I am not too sure. I doubt that they print billions in ONES to distribute to their banking buddies.
This makes what your talking about 100 times worse. If you were worried before, then its time to freak out!
Report Spam/Abuse
“I believe that banking institutions are more dangerous to our liberties than standing armies.”
—Thomas Jefferson, The debate over the recharter of The Bank Bill, (1809)
Report Spam/Abuse
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their CHILDREN WAKE-UP HOMELESS on the continent their fathers conquered . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
—Thomas Jefferson, The debate over the recharter of The Bank Bill, (1809)
Report Spam/Abuse
Me Too
Report Spam/Abuse
good background music.
Report Spam/Abuse
Go to mzippi123 for the solution to the economic crisis.
Report Spam/Abuse
People were stupid & greedy. Now they are paying for it the hard way!
Report Spam/Abuse
Those fuckers that lived beyond on their means deserve what they get! They chose to trade in their upside-down SUV on a newer, bigger land yacht when gas was $4/gallon. They are the ones who maxed out their Best Buy cards on soon-to-be-obsolete tech gadgets that pay no dervitives.
My mother’s losing her home, and I will not bail her ass out. She made her bed.
I have a 796 credit score, not because I’m rich (I am a poor college student), but because I live WELL BELOW MY MEANS!!!
Suck it.
Report Spam/Abuse
only 30% of foreclosures are being marketed because the other 70% are being postponed at the trustee sale indefinitely. the trustee sale is where the smart money is going
Report Spam/Abuse
He right about real estate but dead wrong on the stock market. The stock market will lead us out of the depression like real estate did after 9/11. Due to the fact Obama will put billions of dollars in the economy which will increase corporate profits
Report Spam/Abuse
Derivatives & Ponzi schemes has created a economic black whole! No matter how much money they put into bail outs, it will never be enough! This is designed to break our economy down! That why NAFTA was put in place to have our BUSINESSES go elsewhere! We are slowly being stripped of our means to export & support ourselves as a Country and to rely on our government to take care of us! BUT! Not before they strip up of our Freedoms! WAKE UP! Look at the big picture!!!
Report Spam/Abuse
With all the trillions of dollars of our hard earned money that the Federal Government is spending to BAIL OUT them Thieving BANKSTER The money could pay for every persons mortgages and education! Everybody in America! What is wrong with this picture? And also! They are trying to say that “We are the ones to blame”… It is Not FOLKS! WAKE UP!! The Bankers lobbied to have the Glass Steagle Act abolished during the Clintons administration! And ever since…
Report Spam/Abuse
Remember what happened to Argentina! Don’t be so Nieve that the samething can’t happen to us!
Report Spam/Abuse
I’ve read that a second wave of bad mortgage loans will begin soon. Also confirm the info presented here. Go buy a foreclosed McMansion for 10% of it’s high price!
Report Spam/Abuse
IF you want to know what will happen to America, look at Angola, Brazil, China, Middle East, Russia
Angola: Terrestrial mines do protect big companies complexes
Brazil: High criminality, infrastructure in shambles and a moron puppet in charge
China: people turned into slaves, no health care for them, if they have an accident at work, bad luck
Middle East: Military check points everywhere, no freedom, walls, etc
Russia:declining population due to addiction and diseases
Report Spam/Abuse