Foreclosures coming soon to a neighborhood near you…?

[CA renter]

[quote=peterb]Sure looks like the govt is trying to make the train wreck a slow and somewhat managed crash. Instead of one huge and devistating drop to the floor. Hence the low interest, low down payment loans and stalling the foreclosure process.

Give away funding and dribble out the inventory. Fired-up demand and supressed supply. I guess it’s one way to attmept to control a market. But one must consider how long this can be continued? Sounds like a methodology to keep the market in kind of limbo for a long time.
Strange days, indeed.[/quote]

The problem with their method is that they are setting up the next wave of foreclosures. If we don’t get to cleanse all the weak hands out of the market, then it’s only a matter of time before they fail. The longer they drag this out, the longer we will have to deal with higher unemployment and unbearable debt loads.

The solution to the credit bubble is debt repudiation.

We can do this via everyone walking away, letting the debt holders fail (a good thing, since they need to learn NEVER to make the same mistakes again), OR we can inflate our way out. If we inflate, then the gamblers are made whole at the expense of those who were responsible and did the right thing. The responsible people will have learned a lesson here, too. If the FBs are bailed out, we will have no option but to game the system in the future as well. High credit scores and living below one’s means will become meaningless, as we all gamble away, expecting the govt/taxpayers to bail us out of all our messes.

Moral hazard, indeed.

[Huckleberry]

LOL, here come’s the shadow inventory/REO’s, finally…

http://piggington.com/spike_up_in_median_price_as_inventory_plummets#comment-117323

[Huckleberry]

LOL, here come’s the shadow inventory/REO’s, finally…

http://piggington.com/spike_up_in_median_price_as_inventory_plummets#comment-117323

[Huckleberry]

LOL, here come’s the shadow inventory/REO’s, finally…

http://piggington.com/spike_up_in_median_price_as_inventory_plummets#comment-117323

[Huckleberry]

LOL, here come’s the shadow inventory/REO’s, finally…

http://piggington.com/spike_up_in_median_price_as_inventory_plummets#comment-117323

[Huckleberry]

LOL, here come’s the shadow inventory/REO’s, finally…

http://piggington.com/spike_up_in_median_price_as_inventory_plummets#comment-117323

[peterb]

As unemployment persists and the news gets out that the banks will negotiate if you go into NOD status may create a lot of pressure on the system. If nothing else, everyone keeps hearing how you can stay in your house without paying your mortgage for a long time. The free market does not want to be denied.

[peterb]

As unemployment persists and the news gets out that the banks will negotiate if you go into NOD status may create a lot of pressure on the system. If nothing else, everyone keeps hearing how you can stay in your house without paying your mortgage for a long time. The free market does not want to be denied.

[peterb]

As unemployment persists and the news gets out that the banks will negotiate if you go into NOD status may create a lot of pressure on the system. If nothing else, everyone keeps hearing how you can stay in your house without paying your mortgage for a long time. The free market does not want to be denied.

[peterb]

As unemployment persists and the news gets out that the banks will negotiate if you go into NOD status may create a lot of pressure on the system. If nothing else, everyone keeps hearing how you can stay in your house without paying your mortgage for a long time. The free market does not want to be denied.

[peterb]

As unemployment persists and the news gets out that the banks will negotiate if you go into NOD status may create a lot of pressure on the system. If nothing else, everyone keeps hearing how you can stay in your house without paying your mortgage for a long time. The free market does not want to be denied.

[SD Realtor]

“The free market does not want to be denied.”

Real estate ceased to be a free market quite awhile ago. If it was a free market prices would be a whole lot different then they are now.

[SD Realtor]

“The free market does not want to be denied.”

Real estate ceased to be a free market quite awhile ago. If it was a free market prices would be a whole lot different then they are now.

[SD Realtor]

“The free market does not want to be denied.”

Real estate ceased to be a free market quite awhile ago. If it was a free market prices would be a whole lot different then they are now.

[SD Realtor]

“The free market does not want to be denied.”

Real estate ceased to be a free market quite awhile ago. If it was a free market prices would be a whole lot different then they are now.

[Author]

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