Thursday, September 16, 2010

8 Million Foreclosures Are About To Hit The Market

Home Price Pressures
Last Bubble Not Reblown
After the bottom is found, remember the axiom: the last bubble is not reblown for decades. Look at the Nasdaq, still off more than 50% from a decade ago.
The odds home prices return to their peak in 10 years is close to zero. Houses in bubble areas may never return to peak levels in existing owner's lifetimes. Zandi is way overoptimistic in his assessment of 3% annual appreciation after the bottom is found.

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  1. That looks about right.

    On the brighter side, UPS just dropped off 670 rounds with a good bit of jacketed hollow points, and 1.1 oz of gold and 25 oz of silver are in transit (just a small, regular order of PMs).

  2. You know, this problem might be eased somewhat by the banks and the govts. if they were just willing to get off of peoples faces and try working with them.I would bet if the banks were willing to allow people to pay reduced payments on mortgages for instance, that homeowners would try to scrape whatever they could to make at least some kind of payment in order to keep a roof over their heads. Also, what is this rental thing going on that allows slumlords to charge over $1000 rent for some piece of shit uninspected illegal FIRE TRAP for some poor welfare gal with a couple of young kids and have them sleeping on a cold floor in filthy sleeping bags with little or no heat, little or no hot water-you get the picture. I know one scumball that owns 35 ratholes like this, and they are all in the same disrepair. How much avarice and greed does one require, anyway? People better start getting off their sorry asses and do something about this-these diseased rats are sinking the ship.

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  4. Well my gf finally saw the light...Gave up on her over priced underwater condo...Course it was after there was a murder 300 feet from her place, a few break ins and new section 8 people moving in.

    So hopefully I can now get her to prep and teach her to shoot and we'll be ok.

    To those on the fence...Just dump it...Prices will NEVER be like it was for possibly 3 decades or if it is it'll be in worthless money.

    We have just passed our version of the roaring 20's and for those who study history the depression actually lasted till 1942...13 years!

    Some others say 1955...If that's true based on the employment and money growth of industry then it took 26 years! Either way it won't be pretty.

  5. Unfortunately this is still just the beginning. They won't stop until they get the bread crumbs from our tables. Stop the madness preserve your wealth and save for your retirement the smart way. Now is the time to buy silver. Gold too, but silver is still very affordable at this time. it is slated to go up alot over the next few years. Fiat currency is dead. Put real wealth back in your pockets. Check out my silver website to read more about how to invest in silver the smart way.

  6. "We have just passed our version of the roaring 20's and for those who study history the depression actually lasted till 1942...13 years!

    Some others say 1955...If that's true based on the employment and money growth of industry then it took 26 years! Either way it won't be pretty. "
    And thats just the depression in America.
    recovery first took a war to destroy the industrial competition in order to create an export market for american industry and the prevention of competing economic development in much of the third world by the "free trade" dollar hegemony financial system .
    But, a World war will not work so well this time.
    The industry in Nuclear armed China ,for one, is not going to be easily destoyed without some big costs to the American homeland itself.

    So, how many decades of Debt Peonage poverty it will take to pay of the past debts of America and americans in an economy where most assets held by Americans is their falling in value housing ,remains to be seen.

    So "Recovery" will surely take even more decades than the last great depression, as the American economy has now been
    Especialy as many millions of those very houses will likely finish up in the hands of the American Elite now the Great Ponzi debt bubbles have imploded.
    The dollar value will sink as the government turns to the printing press to socialise the losses of the finance sector in more bailouts .

    And the taxpayers on top of that,are already also saddled with paying off the interest for the past Deficit spending treasury debts for wars held by the national and international bondholders of US Goverment debts.

  7. I honestly believe that they know it will all crash and they're just prolonging it as long as they can...There will be a huge crash making it easy for them to implement a new currency and breakdown any of the black market ill gain money.

    Say like the Euro experiment...Turn in your dollars for the Amero...10 x 1...If you don't it'll be worthless...If you have a huge amount you have to document where you got it.

    Causes 2 things one is way more control of currency, temporarily stops the bleeding and causes a huge explosion of buying and selling as people try to get rid of their dollars before the date of exchange.

    Think about it there were reports that the black/gray market is about 10% of the economy...That's about 1.4 trillion dollars...I say BS I say it's 25%-35%...Think all the people that get paid in cash...Or under report...It's fucking evil genius!


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