So if there are 1,000 foreclosures a day in California and each foreclosure is a loss of $200k to the lending party, then there is a $200 million dollar a day loss for California alone. This translates to a billion per week and $52 billion for the year (assuming they take weekends off).
The numbers that wall street show don’t reflect this. When will we see the real numbers? How many per day is the entire nation? What is our current national tally to date?
There are people on here a lot more knowledgeable on this than me, but I think a lot of it has to do with something called Level 3 assets, and other incorrectly valued financial holdings.
Basically, there is still a lot of $#!^ to hit the fan in the form of downgraded and devalued securities thanks to a lot of bad paper that’s still out there performing worse every day.
No clue when this will catch up to the market, but my guess is around the time banks realize holding onto foreclosed homes until they go back up isn’t going to work.
There are people on here a lot more knowledgeable on this than me, but I think a lot of it has to do with something called Level 3 assets, and other incorrectly valued financial holdings.
Basically, there is still a lot of $#!^ to hit the fan in the form of downgraded and devalued securities thanks to a lot of bad paper that’s still out there performing worse every day.
No clue when this will catch up to the market, but my guess is around the time banks realize holding onto foreclosed homes until they go back up isn’t going to work.
There are people on here a lot more knowledgeable on this than me, but I think a lot of it has to do with something called Level 3 assets, and other incorrectly valued financial holdings.
Basically, there is still a lot of $#!^ to hit the fan in the form of downgraded and devalued securities thanks to a lot of bad paper that’s still out there performing worse every day.
No clue when this will catch up to the market, but my guess is around the time banks realize holding onto foreclosed homes until they go back up isn’t going to work.
There are people on here a lot more knowledgeable on this than me, but I think a lot of it has to do with something called Level 3 assets, and other incorrectly valued financial holdings.
Basically, there is still a lot of $#!^ to hit the fan in the form of downgraded and devalued securities thanks to a lot of bad paper that’s still out there performing worse every day.
No clue when this will catch up to the market, but my guess is around the time banks realize holding onto foreclosed homes until they go back up isn’t going to work.
There are people on here a lot more knowledgeable on this than me, but I think a lot of it has to do with something called Level 3 assets, and other incorrectly valued financial holdings.
Basically, there is still a lot of $#!^ to hit the fan in the form of downgraded and devalued securities thanks to a lot of bad paper that’s still out there performing worse every day.
No clue when this will catch up to the market, but my guess is around the time banks realize holding onto foreclosed homes until they go back up isn’t going to work.
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