Home › Forums › Housing › MND: Foreclosure Filings Drop. Prevention Policies Distorting Supply and Demand
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March 12, 2010 at 6:50 AM #17186March 14, 2010 at 10:41 AM #525672jpinpbParticipant
[quote=JC]MND’s Adam Quinones adds..
I am going to get called a bear for this but…
Foreclosure prevention policies and government legislation are artificially distorting supply and demand equilibrium in the housing market. Because banks are allowing delinquent borrowers to remain in their homes (+120 days), the actual amount of existing homes inventory is uncertain. [/quote]
Ya think? 120 day? I’ve seen places working its way through the system 2 years later. Please. IF you get a notice of default, it’s like a joke.
[quote] From an economic perspective (opportunity cost), it is much more efficient for a bank to allow the homeowner continue to occupy the property, this way it is kept in a condition that allows for faster liquidation at a future date. This gives the bank it’s best shot at recovering lost principle, it’s certaintly a better option than sending the property to the auction block. Given the lack of qualified demand in the housing market, banks will likely continue to hold inventory until market demand is more accommodating of new supply. The question is, when will demand be healthy enough (qualified and willing) to support an influx of “shadow inventory”? [/quote]
Good question. When? Will banks start giving away money to dead people again? Will someone working as a cashier at McDonald’s be making 100k?
[quote] One has to assume bank inventory is only going to swell (and FN and FRE’s). HAMP will only be so successful. Only 116,297 of an attempted 1,269,937 HAMP loan mods have been made permanent so far. Even then, 57.4% of those 116,297 permanent mods…were made to unemployed or underemployed borrowers.
I suppose everything could turn around much faster than forecast if the labor market takes a drastic turn for the better. My argument against that is: record levels of productivity, company investments in technology to improve process flows, and a decline in education spending by state and local governments. The jobs that will be created will require “learned” laborers. If our country can’t meet the education and experience characteristics of labor demand, the government will be doing a ton of social spending via unemployment benefits for many years to come.
[/quote]I agree w/that. See my previous comments. Need good paying jobs. In order to have good paying jobs, people need to be trained/educated. I’d rather teach then to fish than give them fish.
March 14, 2010 at 10:41 AM #526603jpinpbParticipant[quote=JC]MND’s Adam Quinones adds..
I am going to get called a bear for this but…
Foreclosure prevention policies and government legislation are artificially distorting supply and demand equilibrium in the housing market. Because banks are allowing delinquent borrowers to remain in their homes (+120 days), the actual amount of existing homes inventory is uncertain. [/quote]
Ya think? 120 day? I’ve seen places working its way through the system 2 years later. Please. IF you get a notice of default, it’s like a joke.
[quote] From an economic perspective (opportunity cost), it is much more efficient for a bank to allow the homeowner continue to occupy the property, this way it is kept in a condition that allows for faster liquidation at a future date. This gives the bank it’s best shot at recovering lost principle, it’s certaintly a better option than sending the property to the auction block. Given the lack of qualified demand in the housing market, banks will likely continue to hold inventory until market demand is more accommodating of new supply. The question is, when will demand be healthy enough (qualified and willing) to support an influx of “shadow inventory”? [/quote]
Good question. When? Will banks start giving away money to dead people again? Will someone working as a cashier at McDonald’s be making 100k?
[quote] One has to assume bank inventory is only going to swell (and FN and FRE’s). HAMP will only be so successful. Only 116,297 of an attempted 1,269,937 HAMP loan mods have been made permanent so far. Even then, 57.4% of those 116,297 permanent mods…were made to unemployed or underemployed borrowers.
I suppose everything could turn around much faster than forecast if the labor market takes a drastic turn for the better. My argument against that is: record levels of productivity, company investments in technology to improve process flows, and a decline in education spending by state and local governments. The jobs that will be created will require “learned” laborers. If our country can’t meet the education and experience characteristics of labor demand, the government will be doing a ton of social spending via unemployment benefits for many years to come.
[/quote]I agree w/that. See my previous comments. Need good paying jobs. In order to have good paying jobs, people need to be trained/educated. I’d rather teach then to fish than give them fish.
March 14, 2010 at 10:41 AM #525804jpinpbParticipant[quote=JC]MND’s Adam Quinones adds..
I am going to get called a bear for this but…
Foreclosure prevention policies and government legislation are artificially distorting supply and demand equilibrium in the housing market. Because banks are allowing delinquent borrowers to remain in their homes (+120 days), the actual amount of existing homes inventory is uncertain. [/quote]
Ya think? 120 day? I’ve seen places working its way through the system 2 years later. Please. IF you get a notice of default, it’s like a joke.
[quote] From an economic perspective (opportunity cost), it is much more efficient for a bank to allow the homeowner continue to occupy the property, this way it is kept in a condition that allows for faster liquidation at a future date. This gives the bank it’s best shot at recovering lost principle, it’s certaintly a better option than sending the property to the auction block. Given the lack of qualified demand in the housing market, banks will likely continue to hold inventory until market demand is more accommodating of new supply. The question is, when will demand be healthy enough (qualified and willing) to support an influx of “shadow inventory”? [/quote]
Good question. When? Will banks start giving away money to dead people again? Will someone working as a cashier at McDonald’s be making 100k?
[quote] One has to assume bank inventory is only going to swell (and FN and FRE’s). HAMP will only be so successful. Only 116,297 of an attempted 1,269,937 HAMP loan mods have been made permanent so far. Even then, 57.4% of those 116,297 permanent mods…were made to unemployed or underemployed borrowers.
I suppose everything could turn around much faster than forecast if the labor market takes a drastic turn for the better. My argument against that is: record levels of productivity, company investments in technology to improve process flows, and a decline in education spending by state and local governments. The jobs that will be created will require “learned” laborers. If our country can’t meet the education and experience characteristics of labor demand, the government will be doing a ton of social spending via unemployment benefits for many years to come.
[/quote]I agree w/that. See my previous comments. Need good paying jobs. In order to have good paying jobs, people need to be trained/educated. I’d rather teach then to fish than give them fish.
March 14, 2010 at 10:41 AM #526346jpinpbParticipant[quote=JC]MND’s Adam Quinones adds..
I am going to get called a bear for this but…
Foreclosure prevention policies and government legislation are artificially distorting supply and demand equilibrium in the housing market. Because banks are allowing delinquent borrowers to remain in their homes (+120 days), the actual amount of existing homes inventory is uncertain. [/quote]
Ya think? 120 day? I’ve seen places working its way through the system 2 years later. Please. IF you get a notice of default, it’s like a joke.
[quote] From an economic perspective (opportunity cost), it is much more efficient for a bank to allow the homeowner continue to occupy the property, this way it is kept in a condition that allows for faster liquidation at a future date. This gives the bank it’s best shot at recovering lost principle, it’s certaintly a better option than sending the property to the auction block. Given the lack of qualified demand in the housing market, banks will likely continue to hold inventory until market demand is more accommodating of new supply. The question is, when will demand be healthy enough (qualified and willing) to support an influx of “shadow inventory”? [/quote]
Good question. When? Will banks start giving away money to dead people again? Will someone working as a cashier at McDonald’s be making 100k?
[quote] One has to assume bank inventory is only going to swell (and FN and FRE’s). HAMP will only be so successful. Only 116,297 of an attempted 1,269,937 HAMP loan mods have been made permanent so far. Even then, 57.4% of those 116,297 permanent mods…were made to unemployed or underemployed borrowers.
I suppose everything could turn around much faster than forecast if the labor market takes a drastic turn for the better. My argument against that is: record levels of productivity, company investments in technology to improve process flows, and a decline in education spending by state and local governments. The jobs that will be created will require “learned” laborers. If our country can’t meet the education and experience characteristics of labor demand, the government will be doing a ton of social spending via unemployment benefits for many years to come.
[/quote]I agree w/that. See my previous comments. Need good paying jobs. In order to have good paying jobs, people need to be trained/educated. I’d rather teach then to fish than give them fish.
March 14, 2010 at 10:41 AM #526250jpinpbParticipant[quote=JC]MND’s Adam Quinones adds..
I am going to get called a bear for this but…
Foreclosure prevention policies and government legislation are artificially distorting supply and demand equilibrium in the housing market. Because banks are allowing delinquent borrowers to remain in their homes (+120 days), the actual amount of existing homes inventory is uncertain. [/quote]
Ya think? 120 day? I’ve seen places working its way through the system 2 years later. Please. IF you get a notice of default, it’s like a joke.
[quote] From an economic perspective (opportunity cost), it is much more efficient for a bank to allow the homeowner continue to occupy the property, this way it is kept in a condition that allows for faster liquidation at a future date. This gives the bank it’s best shot at recovering lost principle, it’s certaintly a better option than sending the property to the auction block. Given the lack of qualified demand in the housing market, banks will likely continue to hold inventory until market demand is more accommodating of new supply. The question is, when will demand be healthy enough (qualified and willing) to support an influx of “shadow inventory”? [/quote]
Good question. When? Will banks start giving away money to dead people again? Will someone working as a cashier at McDonald’s be making 100k?
[quote] One has to assume bank inventory is only going to swell (and FN and FRE’s). HAMP will only be so successful. Only 116,297 of an attempted 1,269,937 HAMP loan mods have been made permanent so far. Even then, 57.4% of those 116,297 permanent mods…were made to unemployed or underemployed borrowers.
I suppose everything could turn around much faster than forecast if the labor market takes a drastic turn for the better. My argument against that is: record levels of productivity, company investments in technology to improve process flows, and a decline in education spending by state and local governments. The jobs that will be created will require “learned” laborers. If our country can’t meet the education and experience characteristics of labor demand, the government will be doing a ton of social spending via unemployment benefits for many years to come.
[/quote]I agree w/that. See my previous comments. Need good paying jobs. In order to have good paying jobs, people need to be trained/educated. I’d rather teach then to fish than give them fish.
March 14, 2010 at 4:30 PM #526330CA renterParticipant[quote=jpinpb][quote=JC]MND’s Adam Quinones adds..
I am going to get called a bear for this but…
Foreclosure prevention policies and government legislation are artificially distorting supply and demand equilibrium in the housing market. Because banks are allowing delinquent borrowers to remain in their homes (+120 days), the actual amount of existing homes inventory is uncertain. [/quote]
Ya think? 120 day? I’ve seen places working its way through the system 2 years later. Please. IF you get a notice of default, it’s like a joke.
[quote] From an economic perspective (opportunity cost), it is much more efficient for a bank to allow the homeowner continue to occupy the property, this way it is kept in a condition that allows for faster liquidation at a future date. This gives the bank it’s best shot at recovering lost principle, it’s certaintly a better option than sending the property to the auction block. Given the lack of qualified demand in the housing market, banks will likely continue to hold inventory until market demand is more accommodating of new supply. The question is, when will demand be healthy enough (qualified and willing) to support an influx of “shadow inventory”? [/quote]
Good question. When? Will banks start giving away money to dead people again? Will someone working as a cashier at McDonald’s be making 100k?
[quote] One has to assume bank inventory is only going to swell (and FN and FRE’s). HAMP will only be so successful. Only 116,297 of an attempted 1,269,937 HAMP loan mods have been made permanent so far. Even then, 57.4% of those 116,297 permanent mods…were made to unemployed or underemployed borrowers.
I suppose everything could turn around much faster than forecast if the labor market takes a drastic turn for the better. My argument against that is: record levels of productivity, company investments in technology to improve process flows, and a decline in education spending by state and local governments. The jobs that will be created will require “learned” laborers. If our country can’t meet the education and experience characteristics of labor demand, the government will be doing a ton of social spending via unemployment benefits for many years to come.
[/quote]I agree w/that. See my previous comments. Need good paying jobs. In order to have good paying jobs, people need to be trained/educated. I’d rather teach then to fish than give them fish.[/quote]
True. But if they can’t get these elusive “good paying” jobs, then we still need housing costs to come way, way down in order to reflect the reality of a global workforce where everyone is competing with the sweatshop labor in Cambodia. Good luck to us…
March 14, 2010 at 4:30 PM #526683CA renterParticipant[quote=jpinpb][quote=JC]MND’s Adam Quinones adds..
I am going to get called a bear for this but…
Foreclosure prevention policies and government legislation are artificially distorting supply and demand equilibrium in the housing market. Because banks are allowing delinquent borrowers to remain in their homes (+120 days), the actual amount of existing homes inventory is uncertain. [/quote]
Ya think? 120 day? I’ve seen places working its way through the system 2 years later. Please. IF you get a notice of default, it’s like a joke.
[quote] From an economic perspective (opportunity cost), it is much more efficient for a bank to allow the homeowner continue to occupy the property, this way it is kept in a condition that allows for faster liquidation at a future date. This gives the bank it’s best shot at recovering lost principle, it’s certaintly a better option than sending the property to the auction block. Given the lack of qualified demand in the housing market, banks will likely continue to hold inventory until market demand is more accommodating of new supply. The question is, when will demand be healthy enough (qualified and willing) to support an influx of “shadow inventory”? [/quote]
Good question. When? Will banks start giving away money to dead people again? Will someone working as a cashier at McDonald’s be making 100k?
[quote] One has to assume bank inventory is only going to swell (and FN and FRE’s). HAMP will only be so successful. Only 116,297 of an attempted 1,269,937 HAMP loan mods have been made permanent so far. Even then, 57.4% of those 116,297 permanent mods…were made to unemployed or underemployed borrowers.
I suppose everything could turn around much faster than forecast if the labor market takes a drastic turn for the better. My argument against that is: record levels of productivity, company investments in technology to improve process flows, and a decline in education spending by state and local governments. The jobs that will be created will require “learned” laborers. If our country can’t meet the education and experience characteristics of labor demand, the government will be doing a ton of social spending via unemployment benefits for many years to come.
[/quote]I agree w/that. See my previous comments. Need good paying jobs. In order to have good paying jobs, people need to be trained/educated. I’d rather teach then to fish than give them fish.[/quote]
True. But if they can’t get these elusive “good paying” jobs, then we still need housing costs to come way, way down in order to reflect the reality of a global workforce where everyone is competing with the sweatshop labor in Cambodia. Good luck to us…
March 14, 2010 at 4:30 PM #526427CA renterParticipant[quote=jpinpb][quote=JC]MND’s Adam Quinones adds..
I am going to get called a bear for this but…
Foreclosure prevention policies and government legislation are artificially distorting supply and demand equilibrium in the housing market. Because banks are allowing delinquent borrowers to remain in their homes (+120 days), the actual amount of existing homes inventory is uncertain. [/quote]
Ya think? 120 day? I’ve seen places working its way through the system 2 years later. Please. IF you get a notice of default, it’s like a joke.
[quote] From an economic perspective (opportunity cost), it is much more efficient for a bank to allow the homeowner continue to occupy the property, this way it is kept in a condition that allows for faster liquidation at a future date. This gives the bank it’s best shot at recovering lost principle, it’s certaintly a better option than sending the property to the auction block. Given the lack of qualified demand in the housing market, banks will likely continue to hold inventory until market demand is more accommodating of new supply. The question is, when will demand be healthy enough (qualified and willing) to support an influx of “shadow inventory”? [/quote]
Good question. When? Will banks start giving away money to dead people again? Will someone working as a cashier at McDonald’s be making 100k?
[quote] One has to assume bank inventory is only going to swell (and FN and FRE’s). HAMP will only be so successful. Only 116,297 of an attempted 1,269,937 HAMP loan mods have been made permanent so far. Even then, 57.4% of those 116,297 permanent mods…were made to unemployed or underemployed borrowers.
I suppose everything could turn around much faster than forecast if the labor market takes a drastic turn for the better. My argument against that is: record levels of productivity, company investments in technology to improve process flows, and a decline in education spending by state and local governments. The jobs that will be created will require “learned” laborers. If our country can’t meet the education and experience characteristics of labor demand, the government will be doing a ton of social spending via unemployment benefits for many years to come.
[/quote]I agree w/that. See my previous comments. Need good paying jobs. In order to have good paying jobs, people need to be trained/educated. I’d rather teach then to fish than give them fish.[/quote]
True. But if they can’t get these elusive “good paying” jobs, then we still need housing costs to come way, way down in order to reflect the reality of a global workforce where everyone is competing with the sweatshop labor in Cambodia. Good luck to us…
March 14, 2010 at 4:30 PM #525884CA renterParticipant[quote=jpinpb][quote=JC]MND’s Adam Quinones adds..
I am going to get called a bear for this but…
Foreclosure prevention policies and government legislation are artificially distorting supply and demand equilibrium in the housing market. Because banks are allowing delinquent borrowers to remain in their homes (+120 days), the actual amount of existing homes inventory is uncertain. [/quote]
Ya think? 120 day? I’ve seen places working its way through the system 2 years later. Please. IF you get a notice of default, it’s like a joke.
[quote] From an economic perspective (opportunity cost), it is much more efficient for a bank to allow the homeowner continue to occupy the property, this way it is kept in a condition that allows for faster liquidation at a future date. This gives the bank it’s best shot at recovering lost principle, it’s certaintly a better option than sending the property to the auction block. Given the lack of qualified demand in the housing market, banks will likely continue to hold inventory until market demand is more accommodating of new supply. The question is, when will demand be healthy enough (qualified and willing) to support an influx of “shadow inventory”? [/quote]
Good question. When? Will banks start giving away money to dead people again? Will someone working as a cashier at McDonald’s be making 100k?
[quote] One has to assume bank inventory is only going to swell (and FN and FRE’s). HAMP will only be so successful. Only 116,297 of an attempted 1,269,937 HAMP loan mods have been made permanent so far. Even then, 57.4% of those 116,297 permanent mods…were made to unemployed or underemployed borrowers.
I suppose everything could turn around much faster than forecast if the labor market takes a drastic turn for the better. My argument against that is: record levels of productivity, company investments in technology to improve process flows, and a decline in education spending by state and local governments. The jobs that will be created will require “learned” laborers. If our country can’t meet the education and experience characteristics of labor demand, the government will be doing a ton of social spending via unemployment benefits for many years to come.
[/quote]I agree w/that. See my previous comments. Need good paying jobs. In order to have good paying jobs, people need to be trained/educated. I’d rather teach then to fish than give them fish.[/quote]
True. But if they can’t get these elusive “good paying” jobs, then we still need housing costs to come way, way down in order to reflect the reality of a global workforce where everyone is competing with the sweatshop labor in Cambodia. Good luck to us…
March 14, 2010 at 4:30 PM #525752CA renterParticipant[quote=jpinpb][quote=JC]MND’s Adam Quinones adds..
I am going to get called a bear for this but…
Foreclosure prevention policies and government legislation are artificially distorting supply and demand equilibrium in the housing market. Because banks are allowing delinquent borrowers to remain in their homes (+120 days), the actual amount of existing homes inventory is uncertain. [/quote]
Ya think? 120 day? I’ve seen places working its way through the system 2 years later. Please. IF you get a notice of default, it’s like a joke.
[quote] From an economic perspective (opportunity cost), it is much more efficient for a bank to allow the homeowner continue to occupy the property, this way it is kept in a condition that allows for faster liquidation at a future date. This gives the bank it’s best shot at recovering lost principle, it’s certaintly a better option than sending the property to the auction block. Given the lack of qualified demand in the housing market, banks will likely continue to hold inventory until market demand is more accommodating of new supply. The question is, when will demand be healthy enough (qualified and willing) to support an influx of “shadow inventory”? [/quote]
Good question. When? Will banks start giving away money to dead people again? Will someone working as a cashier at McDonald’s be making 100k?
[quote] One has to assume bank inventory is only going to swell (and FN and FRE’s). HAMP will only be so successful. Only 116,297 of an attempted 1,269,937 HAMP loan mods have been made permanent so far. Even then, 57.4% of those 116,297 permanent mods…were made to unemployed or underemployed borrowers.
I suppose everything could turn around much faster than forecast if the labor market takes a drastic turn for the better. My argument against that is: record levels of productivity, company investments in technology to improve process flows, and a decline in education spending by state and local governments. The jobs that will be created will require “learned” laborers. If our country can’t meet the education and experience characteristics of labor demand, the government will be doing a ton of social spending via unemployment benefits for many years to come.
[/quote]I agree w/that. See my previous comments. Need good paying jobs. In order to have good paying jobs, people need to be trained/educated. I’d rather teach then to fish than give them fish.[/quote]
True. But if they can’t get these elusive “good paying” jobs, then we still need housing costs to come way, way down in order to reflect the reality of a global workforce where everyone is competing with the sweatshop labor in Cambodia. Good luck to us…
March 14, 2010 at 9:15 PM #525924scaredyclassicParticipantisnt it kinda weird to think of the movie stereotype of the big bad bank repossessing the widow’s house? Isn’t that the stereotype that lingers all these years? Wouldn’t it be hilarious to try to explain to someone from way in the past how it is actually in the banks interest not to take the house back! It is difficult to even conceive how this is right. What’s even odder is the general decay when people leave. we saw a place we liked, went back, and there was water damage the 2nd time. no one was living there. total bummer. i saw another place today with 4 acres of grapefruit orchards. the mogul whose place it was ran short of cash and the agricultural water was shut off months ago. the orchard’s alive because of the heavy rains. but jeepers, i bet this short sale takes a long time, the orchard dies, the bank sits on the million dolalr asset, and the whole place rots. i suppose it was a series of rational moves that got the system to this place, but add it all up, and , weird. i try to talk about this with my mom sometimes, no interest in financial issues, and she’s smart but she cannot grasp how all this can be happening. her financial mindset is still 1931-1932, and she somehow passed that on to me, so she instinctively has a sense that things fall apart, but she cannot beleive people are just sitting around not paying on their houses and banks liek this.
March 14, 2010 at 9:15 PM #526370scaredyclassicParticipantisnt it kinda weird to think of the movie stereotype of the big bad bank repossessing the widow’s house? Isn’t that the stereotype that lingers all these years? Wouldn’t it be hilarious to try to explain to someone from way in the past how it is actually in the banks interest not to take the house back! It is difficult to even conceive how this is right. What’s even odder is the general decay when people leave. we saw a place we liked, went back, and there was water damage the 2nd time. no one was living there. total bummer. i saw another place today with 4 acres of grapefruit orchards. the mogul whose place it was ran short of cash and the agricultural water was shut off months ago. the orchard’s alive because of the heavy rains. but jeepers, i bet this short sale takes a long time, the orchard dies, the bank sits on the million dolalr asset, and the whole place rots. i suppose it was a series of rational moves that got the system to this place, but add it all up, and , weird. i try to talk about this with my mom sometimes, no interest in financial issues, and she’s smart but she cannot grasp how all this can be happening. her financial mindset is still 1931-1932, and she somehow passed that on to me, so she instinctively has a sense that things fall apart, but she cannot beleive people are just sitting around not paying on their houses and banks liek this.
March 14, 2010 at 9:15 PM #526467scaredyclassicParticipantisnt it kinda weird to think of the movie stereotype of the big bad bank repossessing the widow’s house? Isn’t that the stereotype that lingers all these years? Wouldn’t it be hilarious to try to explain to someone from way in the past how it is actually in the banks interest not to take the house back! It is difficult to even conceive how this is right. What’s even odder is the general decay when people leave. we saw a place we liked, went back, and there was water damage the 2nd time. no one was living there. total bummer. i saw another place today with 4 acres of grapefruit orchards. the mogul whose place it was ran short of cash and the agricultural water was shut off months ago. the orchard’s alive because of the heavy rains. but jeepers, i bet this short sale takes a long time, the orchard dies, the bank sits on the million dolalr asset, and the whole place rots. i suppose it was a series of rational moves that got the system to this place, but add it all up, and , weird. i try to talk about this with my mom sometimes, no interest in financial issues, and she’s smart but she cannot grasp how all this can be happening. her financial mindset is still 1931-1932, and she somehow passed that on to me, so she instinctively has a sense that things fall apart, but she cannot beleive people are just sitting around not paying on their houses and banks liek this.
March 14, 2010 at 9:15 PM #525792scaredyclassicParticipantisnt it kinda weird to think of the movie stereotype of the big bad bank repossessing the widow’s house? Isn’t that the stereotype that lingers all these years? Wouldn’t it be hilarious to try to explain to someone from way in the past how it is actually in the banks interest not to take the house back! It is difficult to even conceive how this is right. What’s even odder is the general decay when people leave. we saw a place we liked, went back, and there was water damage the 2nd time. no one was living there. total bummer. i saw another place today with 4 acres of grapefruit orchards. the mogul whose place it was ran short of cash and the agricultural water was shut off months ago. the orchard’s alive because of the heavy rains. but jeepers, i bet this short sale takes a long time, the orchard dies, the bank sits on the million dolalr asset, and the whole place rots. i suppose it was a series of rational moves that got the system to this place, but add it all up, and , weird. i try to talk about this with my mom sometimes, no interest in financial issues, and she’s smart but she cannot grasp how all this can be happening. her financial mindset is still 1931-1932, and she somehow passed that on to me, so she instinctively has a sense that things fall apart, but she cannot beleive people are just sitting around not paying on their houses and banks liek this.
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