On Thu, Apr 15, 2010 at 9:27 PM, Michael Madigan <[email protected]> wrote: > These retards think we're in a recovery. Foreclosures hit a 5-year high > today. Who's experiencing the recovery, certainly not the 10% unemployed. > And here's a newsflash.....it's going to get worse. ------------------------------------
Can you explain why we are at the high today? Was it that the greater population of the USA thought that Real Estate values would never stop climbing? People bought homes that were out of their price thinking that in a few years they could sell for a profit. Whoops was that a recession load of stuff that hit the fan? So poor buying habits are why the foreclosure rate is as high as it is. If I were holding onto a note that was not worth holding I would dump it as well. Note outstanding 730,000 on home purchased in 2007. In 2008 homes just like it selling for only 490,000. The high rate you are talking about is all the smart people who are dumping that excess value. Sure there are a good many who have lost income streams and their repossession is of valid concern when you measure pain over this recession. Early this winter I was flipping through the channels and saw a show about real estate and how now is the time to buy in. As I remember the breakdown of homes as short term investments vs homes as a "home" was running about 3:1. Sorry I cannot remember what org had that statement. Their POV was the saturated market had great potential for buying a great value today. YMMV -- Stephen Russell Sr. Production Systems Programmer CIMSgts 901.246-0159 cell _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
