60 Minutes: House of Cards

[TheBreeze]

Pretty decent coverage of the housing collapse from 60 minutes:

http://www.cbsnews.com/sections/i_video/main500251.shtml?id=3756665n&channel=/sections/60minutes/videoplayer3415.shtml

Click on “House of Cards”. The clip is 16 minutes long.

One amazing part of the video is when they showed the number of pre-foreclosures graphically in Stockton, CA usimg foreclosureradar.com. The realtor they were interviewing said there was currently 2 years worth of inventory. However, with the number of homes in pre-foreclosure, I don’t see how there won’t be at least 10 years supply in Stockton at some point in the near future. Nasty.

[davelj]

For a mainstream news organization that was a pretty good piece. And it’s nice that they actually bothered to talk to an erudite credit expert – Jim Grant. To me, that was the most interesting part of the story. It said, “We’re actually serious about covering this issue.” Doesn’t happen too often, unfortunately.

[davelj]

For a mainstream news organization that was a pretty good piece. And it’s nice that they actually bothered to talk to an erudite credit expert – Jim Grant. To me, that was the most interesting part of the story. It said, “We’re actually serious about covering this issue.” Doesn’t happen too often, unfortunately.

[davelj]

For a mainstream news organization that was a pretty good piece. And it’s nice that they actually bothered to talk to an erudite credit expert – Jim Grant. To me, that was the most interesting part of the story. It said, “We’re actually serious about covering this issue.” Doesn’t happen too often, unfortunately.

[davelj]

For a mainstream news organization that was a pretty good piece. And it’s nice that they actually bothered to talk to an erudite credit expert – Jim Grant. To me, that was the most interesting part of the story. It said, “We’re actually serious about covering this issue.” Doesn’t happen too often, unfortunately.

[davelj]

For a mainstream news organization that was a pretty good piece. And it’s nice that they actually bothered to talk to an erudite credit expert – Jim Grant. To me, that was the most interesting part of the story. It said, “We’re actually serious about covering this issue.” Doesn’t happen too often, unfortunately.

[bubble_contagion]

My favorite part: “It doesn’t make sense not to foreclose now that the prices are going down.”

[bubble_contagion]

My favorite part: “It doesn’t make sense not to foreclose now that the prices are going down.”

[bubble_contagion]

My favorite part: “It doesn’t make sense not to foreclose now that the prices are going down.”

[bubble_contagion]

My favorite part: “It doesn’t make sense not to foreclose now that the prices are going down.”

[bubble_contagion]

My favorite part: “It doesn’t make sense not to foreclose now that the prices are going down.”

[Anonymous]

This video was very informative, and it helped to further put things in perspective for me. It really makes this whole fiasco sound so dirty. I would agree that the house of cards is about to fall. I don’t see how raising the limits for conforming home loans is going to do much of anything.

As I said before, most people are going to do what’s in their own best interests, signed contracts notwithstanding. That would be walking away from a house that they owe more than the value on for the next decade at least.

[Anonymous]

This video was very informative, and it helped to further put things in perspective for me. It really makes this whole fiasco sound so dirty. I would agree that the house of cards is about to fall. I don’t see how raising the limits for conforming home loans is going to do much of anything.

As I said before, most people are going to do what’s in their own best interests, signed contracts notwithstanding. That would be walking away from a house that they owe more than the value on for the next decade at least.

[Anonymous]

This video was very informative, and it helped to further put things in perspective for me. It really makes this whole fiasco sound so dirty. I would agree that the house of cards is about to fall. I don’t see how raising the limits for conforming home loans is going to do much of anything.

As I said before, most people are going to do what’s in their own best interests, signed contracts notwithstanding. That would be walking away from a house that they owe more than the value on for the next decade at least.

[Anonymous]

This video was very informative, and it helped to further put things in perspective for me. It really makes this whole fiasco sound so dirty. I would agree that the house of cards is about to fall. I don’t see how raising the limits for conforming home loans is going to do much of anything.

As I said before, most people are going to do what’s in their own best interests, signed contracts notwithstanding. That would be walking away from a house that they owe more than the value on for the next decade at least.

[Author]

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