So, where are all the foreclosures?

[mwtosd]

Ox,

I did not get to read this thread yet, and I quickly looked and did not see this link posted here on this thread. It is posted on both SDL and another thread on Piggs. Plenty of foreclosures are coming. This is an article by Mr. Mortgage.

http://www.fieldcheckgroup.com/2009/04/07/4-7-ca-foreclosures-about-to-soar/

[SD Realtor]

Allan and others yes I do believe that it is IN PART a logistical problem however there is no motivation by the banks to resolve the logistics. Moreover I am now more convinced then ever that the banks have simply won.

Look, I think we will all agree that at some point, (my guess is 2004 sometime) the banks all pretty much knew that they had all passed the point of no return. At that point there was a concious decision to move forward with the fairly logical conclusion that the government would bail everyone out. That is pretty much what has happened right? I mean it is not like the default rates were not already high in 2007 nor were they unpredicted.

So to me the simple plan was that they will churn out REO properties at a very slow rate. I think they also knew, and rightfully so, that there PALS Barney Frank and his henchmen would put in place legislation to slow down the process even more. In my opinion banks may hem and haw about this but in reality it plays right into the plan doesn’t it? The longer it takes to mark each individual asset to true market value the better. The more this plays out the more orchestrated it all looks to me. Wall Street and the government are dancing a perfect waltz. As long as they do it right, they get out of this mess without crippling the country. Hey if it takes 10 years then honestly it doesn’t seem like it really matters does it?

Guys like Mr Mortgage and others see the facts for what they are but they are not acknowledging the rulemakers own the game right? Didn’t Mr Mortgage have a similar prediction last year guys? I am not saying he is not dead on, I am saying that the game is rigged.

Part of me says it has to change. To many homes being held by the GSEs, to many homes held by the banks or the private entities who will pull them from the banks books (thanks mr taxpayer). Yet… the other more cynical part of me thinks that the game is damn far from over. I am starting to compare this to winning in Vegas. Instead of trying to beat the house in Vegas though, we are dealing with Barney Frank and Wall Street…

Odds are not in my favor.

[SD Realtor]

Allan and others yes I do believe that it is IN PART a logistical problem however there is no motivation by the banks to resolve the logistics. Moreover I am now more convinced then ever that the banks have simply won.

Look, I think we will all agree that at some point, (my guess is 2004 sometime) the banks all pretty much knew that they had all passed the point of no return. At that point there was a concious decision to move forward with the fairly logical conclusion that the government would bail everyone out. That is pretty much what has happened right? I mean it is not like the default rates were not already high in 2007 nor were they unpredicted.

So to me the simple plan was that they will churn out REO properties at a very slow rate. I think they also knew, and rightfully so, that there PALS Barney Frank and his henchmen would put in place legislation to slow down the process even more. In my opinion banks may hem and haw about this but in reality it plays right into the plan doesn’t it? The longer it takes to mark each individual asset to true market value the better. The more this plays out the more orchestrated it all looks to me. Wall Street and the government are dancing a perfect waltz. As long as they do it right, they get out of this mess without crippling the country. Hey if it takes 10 years then honestly it doesn’t seem like it really matters does it?

Guys like Mr Mortgage and others see the facts for what they are but they are not acknowledging the rulemakers own the game right? Didn’t Mr Mortgage have a similar prediction last year guys? I am not saying he is not dead on, I am saying that the game is rigged.

Part of me says it has to change. To many homes being held by the GSEs, to many homes held by the banks or the private entities who will pull them from the banks books (thanks mr taxpayer). Yet… the other more cynical part of me thinks that the game is damn far from over. I am starting to compare this to winning in Vegas. Instead of trying to beat the house in Vegas though, we are dealing with Barney Frank and Wall Street…

Odds are not in my favor.

[SD Realtor]

Allan and others yes I do believe that it is IN PART a logistical problem however there is no motivation by the banks to resolve the logistics. Moreover I am now more convinced then ever that the banks have simply won.

Look, I think we will all agree that at some point, (my guess is 2004 sometime) the banks all pretty much knew that they had all passed the point of no return. At that point there was a concious decision to move forward with the fairly logical conclusion that the government would bail everyone out. That is pretty much what has happened right? I mean it is not like the default rates were not already high in 2007 nor were they unpredicted.

So to me the simple plan was that they will churn out REO properties at a very slow rate. I think they also knew, and rightfully so, that there PALS Barney Frank and his henchmen would put in place legislation to slow down the process even more. In my opinion banks may hem and haw about this but in reality it plays right into the plan doesn’t it? The longer it takes to mark each individual asset to true market value the better. The more this plays out the more orchestrated it all looks to me. Wall Street and the government are dancing a perfect waltz. As long as they do it right, they get out of this mess without crippling the country. Hey if it takes 10 years then honestly it doesn’t seem like it really matters does it?

Guys like Mr Mortgage and others see the facts for what they are but they are not acknowledging the rulemakers own the game right? Didn’t Mr Mortgage have a similar prediction last year guys? I am not saying he is not dead on, I am saying that the game is rigged.

Part of me says it has to change. To many homes being held by the GSEs, to many homes held by the banks or the private entities who will pull them from the banks books (thanks mr taxpayer). Yet… the other more cynical part of me thinks that the game is damn far from over. I am starting to compare this to winning in Vegas. Instead of trying to beat the house in Vegas though, we are dealing with Barney Frank and Wall Street…

Odds are not in my favor.

[SD Realtor]

Allan and others yes I do believe that it is IN PART a logistical problem however there is no motivation by the banks to resolve the logistics. Moreover I am now more convinced then ever that the banks have simply won.

Look, I think we will all agree that at some point, (my guess is 2004 sometime) the banks all pretty much knew that they had all passed the point of no return. At that point there was a concious decision to move forward with the fairly logical conclusion that the government would bail everyone out. That is pretty much what has happened right? I mean it is not like the default rates were not already high in 2007 nor were they unpredicted.

So to me the simple plan was that they will churn out REO properties at a very slow rate. I think they also knew, and rightfully so, that there PALS Barney Frank and his henchmen would put in place legislation to slow down the process even more. In my opinion banks may hem and haw about this but in reality it plays right into the plan doesn’t it? The longer it takes to mark each individual asset to true market value the better. The more this plays out the more orchestrated it all looks to me. Wall Street and the government are dancing a perfect waltz. As long as they do it right, they get out of this mess without crippling the country. Hey if it takes 10 years then honestly it doesn’t seem like it really matters does it?

Guys like Mr Mortgage and others see the facts for what they are but they are not acknowledging the rulemakers own the game right? Didn’t Mr Mortgage have a similar prediction last year guys? I am not saying he is not dead on, I am saying that the game is rigged.

Part of me says it has to change. To many homes being held by the GSEs, to many homes held by the banks or the private entities who will pull them from the banks books (thanks mr taxpayer). Yet… the other more cynical part of me thinks that the game is damn far from over. I am starting to compare this to winning in Vegas. Instead of trying to beat the house in Vegas though, we are dealing with Barney Frank and Wall Street…

Odds are not in my favor.

[SD Realtor]

Allan and others yes I do believe that it is IN PART a logistical problem however there is no motivation by the banks to resolve the logistics. Moreover I am now more convinced then ever that the banks have simply won.

Look, I think we will all agree that at some point, (my guess is 2004 sometime) the banks all pretty much knew that they had all passed the point of no return. At that point there was a concious decision to move forward with the fairly logical conclusion that the government would bail everyone out. That is pretty much what has happened right? I mean it is not like the default rates were not already high in 2007 nor were they unpredicted.

So to me the simple plan was that they will churn out REO properties at a very slow rate. I think they also knew, and rightfully so, that there PALS Barney Frank and his henchmen would put in place legislation to slow down the process even more. In my opinion banks may hem and haw about this but in reality it plays right into the plan doesn’t it? The longer it takes to mark each individual asset to true market value the better. The more this plays out the more orchestrated it all looks to me. Wall Street and the government are dancing a perfect waltz. As long as they do it right, they get out of this mess without crippling the country. Hey if it takes 10 years then honestly it doesn’t seem like it really matters does it?

Guys like Mr Mortgage and others see the facts for what they are but they are not acknowledging the rulemakers own the game right? Didn’t Mr Mortgage have a similar prediction last year guys? I am not saying he is not dead on, I am saying that the game is rigged.

Part of me says it has to change. To many homes being held by the GSEs, to many homes held by the banks or the private entities who will pull them from the banks books (thanks mr taxpayer). Yet… the other more cynical part of me thinks that the game is damn far from over. I am starting to compare this to winning in Vegas. Instead of trying to beat the house in Vegas though, we are dealing with Barney Frank and Wall Street…

Odds are not in my favor.

[patientrenter]

SD R has it exactly right. The big boys could see this might be coming, and are now (a) seeing if they can re-inflate, or (b) if they can’t get re-inflation going, draw the downturn out as long as possible, to make it easier to bail out the bankers and others who play ball (play ball with Barney = ask “how much do you want?” when he says “lend!”)

I don’t think all the top people were 100% sure that the market would collapse, SD R. I think they realized it could, but many also believed it could be averted with the “right” actions. They are a little surprised at the speed and extent of the downturn. If they had seen this coming, Ben would have flooded the markets with cheap and easy money earlier.

[patientrenter]

SD R has it exactly right. The big boys could see this might be coming, and are now (a) seeing if they can re-inflate, or (b) if they can’t get re-inflation going, draw the downturn out as long as possible, to make it easier to bail out the bankers and others who play ball (play ball with Barney = ask “how much do you want?” when he says “lend!”)

I don’t think all the top people were 100% sure that the market would collapse, SD R. I think they realized it could, but many also believed it could be averted with the “right” actions. They are a little surprised at the speed and extent of the downturn. If they had seen this coming, Ben would have flooded the markets with cheap and easy money earlier.

[patientrenter]

SD R has it exactly right. The big boys could see this might be coming, and are now (a) seeing if they can re-inflate, or (b) if they can’t get re-inflation going, draw the downturn out as long as possible, to make it easier to bail out the bankers and others who play ball (play ball with Barney = ask “how much do you want?” when he says “lend!”)

I don’t think all the top people were 100% sure that the market would collapse, SD R. I think they realized it could, but many also believed it could be averted with the “right” actions. They are a little surprised at the speed and extent of the downturn. If they had seen this coming, Ben would have flooded the markets with cheap and easy money earlier.

[patientrenter]

SD R has it exactly right. The big boys could see this might be coming, and are now (a) seeing if they can re-inflate, or (b) if they can’t get re-inflation going, draw the downturn out as long as possible, to make it easier to bail out the bankers and others who play ball (play ball with Barney = ask “how much do you want?” when he says “lend!”)

I don’t think all the top people were 100% sure that the market would collapse, SD R. I think they realized it could, but many also believed it could be averted with the “right” actions. They are a little surprised at the speed and extent of the downturn. If they had seen this coming, Ben would have flooded the markets with cheap and easy money earlier.

[patientrenter]

SD R has it exactly right. The big boys could see this might be coming, and are now (a) seeing if they can re-inflate, or (b) if they can’t get re-inflation going, draw the downturn out as long as possible, to make it easier to bail out the bankers and others who play ball (play ball with Barney = ask “how much do you want?” when he says “lend!”)

I don’t think all the top people were 100% sure that the market would collapse, SD R. I think they realized it could, but many also believed it could be averted with the “right” actions. They are a little surprised at the speed and extent of the downturn. If they had seen this coming, Ben would have flooded the markets with cheap and easy money earlier.

[blahblahblah]

CONCHO – if rents are declining and/or expected to decline, how will it benefit any investor to flood the market w/rentals? Is that already happening and maybe explaining why rents have declined some?

I think they will do it slowly like they are handling their sales, they won’t flood the market. Also if they get enough bailout money then the rents are just gravy; they might not like it if oversupply pushed rents down temporarily because they keep those assets until it makes sense to sell them later. The bailout money will give the holders of these toxic doo-doo mortgage assets heavily discounted properties to do with as they wish. They might sell some, they might rent some, who knows what they’ll do. One thing is certain — bailout money will remove the pressure on them, at least temporarily, so that they can avoid taking drastic measures. Of course little guys like you and me are hoping that they’ll be forced to, but then again, the laws are not made for little guys.

[blahblahblah]

CONCHO – if rents are declining and/or expected to decline, how will it benefit any investor to flood the market w/rentals? Is that already happening and maybe explaining why rents have declined some?

I think they will do it slowly like they are handling their sales, they won’t flood the market. Also if they get enough bailout money then the rents are just gravy; they might not like it if oversupply pushed rents down temporarily because they keep those assets until it makes sense to sell them later. The bailout money will give the holders of these toxic doo-doo mortgage assets heavily discounted properties to do with as they wish. They might sell some, they might rent some, who knows what they’ll do. One thing is certain — bailout money will remove the pressure on them, at least temporarily, so that they can avoid taking drastic measures. Of course little guys like you and me are hoping that they’ll be forced to, but then again, the laws are not made for little guys.

[blahblahblah]

CONCHO – if rents are declining and/or expected to decline, how will it benefit any investor to flood the market w/rentals? Is that already happening and maybe explaining why rents have declined some?

I think they will do it slowly like they are handling their sales, they won’t flood the market. Also if they get enough bailout money then the rents are just gravy; they might not like it if oversupply pushed rents down temporarily because they keep those assets until it makes sense to sell them later. The bailout money will give the holders of these toxic doo-doo mortgage assets heavily discounted properties to do with as they wish. They might sell some, they might rent some, who knows what they’ll do. One thing is certain — bailout money will remove the pressure on them, at least temporarily, so that they can avoid taking drastic measures. Of course little guys like you and me are hoping that they’ll be forced to, but then again, the laws are not made for little guys.

[blahblahblah]

CONCHO – if rents are declining and/or expected to decline, how will it benefit any investor to flood the market w/rentals? Is that already happening and maybe explaining why rents have declined some?

I think they will do it slowly like they are handling their sales, they won’t flood the market. Also if they get enough bailout money then the rents are just gravy; they might not like it if oversupply pushed rents down temporarily because they keep those assets until it makes sense to sell them later. The bailout money will give the holders of these toxic doo-doo mortgage assets heavily discounted properties to do with as they wish. They might sell some, they might rent some, who knows what they’ll do. One thing is certain — bailout money will remove the pressure on them, at least temporarily, so that they can avoid taking drastic measures. Of course little guys like you and me are hoping that they’ll be forced to, but then again, the laws are not made for little guys.

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