[permabear]

[quote=desmond]Riots? Who, why and where will these riots take place?[/quote]

Using history as a guide:

http://www.unbossed.com/index.php?itemid=2680

[quote]It was the morning of January 22, 1932, in a quiet, middle-class neighborhood of the Bronx. A crowd was gathering in front of 2302 Olinville Avenue, near the Bronx Park.

City Marshals and Police had moved in to evict 17 tenants who were on a “rent strike”. A crowd of 4,000 had gathered nearby.

When the marshals moved into the building and the first stick of furniture appeared on the street, the crowd charged the police and began pummeling them with fists, stones, and sticks, while the “non-combatants urged the belligerents to greater fury with anathemas for capitalism, the police and landlords.” The outnumbered police barely held their lines until reinforcements arrived.

Every single reserve police officer in the Bronx had to be called in to prevent being routed by the rioters.[/quote]

History is why the government and banks are not kicking people out aggressively.

[permabear]

[quote=desmond]Riots? Who, why and where will these riots take place?[/quote]

Using history as a guide:

http://www.unbossed.com/index.php?itemid=2680

[quote]It was the morning of January 22, 1932, in a quiet, middle-class neighborhood of the Bronx. A crowd was gathering in front of 2302 Olinville Avenue, near the Bronx Park.

City Marshals and Police had moved in to evict 17 tenants who were on a “rent strike”. A crowd of 4,000 had gathered nearby.

When the marshals moved into the building and the first stick of furniture appeared on the street, the crowd charged the police and began pummeling them with fists, stones, and sticks, while the “non-combatants urged the belligerents to greater fury with anathemas for capitalism, the police and landlords.” The outnumbered police barely held their lines until reinforcements arrived.

Every single reserve police officer in the Bronx had to be called in to prevent being routed by the rioters.[/quote]

History is why the government and banks are not kicking people out aggressively.

[permabear]

[quote=desmond]Riots? Who, why and where will these riots take place?[/quote]

Using history as a guide:

http://www.unbossed.com/index.php?itemid=2680

[quote]It was the morning of January 22, 1932, in a quiet, middle-class neighborhood of the Bronx. A crowd was gathering in front of 2302 Olinville Avenue, near the Bronx Park.

City Marshals and Police had moved in to evict 17 tenants who were on a “rent strike”. A crowd of 4,000 had gathered nearby.

When the marshals moved into the building and the first stick of furniture appeared on the street, the crowd charged the police and began pummeling them with fists, stones, and sticks, while the “non-combatants urged the belligerents to greater fury with anathemas for capitalism, the police and landlords.” The outnumbered police barely held their lines until reinforcements arrived.

Every single reserve police officer in the Bronx had to be called in to prevent being routed by the rioters.[/quote]

History is why the government and banks are not kicking people out aggressively.

[permabear]

[quote=bearishgurl]They are creating their OWN artificial “trickle” until 2014 ON PURPOSE, to attempt to try to recover AS MUCH AS HUMANLY POSSIBLE from each and every REO by creating bidding wars for them, due to lack of inventory in most areas. Most of these REO’s were built in the last ten years and due to that particular “captive audience,” will have buyers lined up to bid as soon as they hit the market, one by one, while the rest of their “shadow properties” await their turn.[/quote]
Agreed. And with assistance from us taxpayers, don’t forget.

[permabear]

[quote=bearishgurl]They are creating their OWN artificial “trickle” until 2014 ON PURPOSE, to attempt to try to recover AS MUCH AS HUMANLY POSSIBLE from each and every REO by creating bidding wars for them, due to lack of inventory in most areas. Most of these REO’s were built in the last ten years and due to that particular “captive audience,” will have buyers lined up to bid as soon as they hit the market, one by one, while the rest of their “shadow properties” await their turn.[/quote]
Agreed. And with assistance from us taxpayers, don’t forget.

[permabear]

[quote=bearishgurl]They are creating their OWN artificial “trickle” until 2014 ON PURPOSE, to attempt to try to recover AS MUCH AS HUMANLY POSSIBLE from each and every REO by creating bidding wars for them, due to lack of inventory in most areas. Most of these REO’s were built in the last ten years and due to that particular “captive audience,” will have buyers lined up to bid as soon as they hit the market, one by one, while the rest of their “shadow properties” await their turn.[/quote]
Agreed. And with assistance from us taxpayers, don’t forget.

[permabear]

[quote=bearishgurl]They are creating their OWN artificial “trickle” until 2014 ON PURPOSE, to attempt to try to recover AS MUCH AS HUMANLY POSSIBLE from each and every REO by creating bidding wars for them, due to lack of inventory in most areas. Most of these REO’s were built in the last ten years and due to that particular “captive audience,” will have buyers lined up to bid as soon as they hit the market, one by one, while the rest of their “shadow properties” await their turn.[/quote]
Agreed. And with assistance from us taxpayers, don’t forget.

[permabear]

[quote=bearishgurl]They are creating their OWN artificial “trickle” until 2014 ON PURPOSE, to attempt to try to recover AS MUCH AS HUMANLY POSSIBLE from each and every REO by creating bidding wars for them, due to lack of inventory in most areas. Most of these REO’s were built in the last ten years and due to that particular “captive audience,” will have buyers lined up to bid as soon as they hit the market, one by one, while the rest of their “shadow properties” await their turn.[/quote]
Agreed. And with assistance from us taxpayers, don’t forget.

[permabear]

The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.

[permabear]

The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.

[permabear]

The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.

[permabear]

The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.

[permabear]

The major banks aren’t dummies. Even if they’re changing their foreclosure rules, there’s no way they’re going to dump thousands of properties on the market overnight. And even if they tried, the government would intervene to present incentives for them NOT to, because they know it would set off a massive deflationary spiral that would tank the entire economy. One example:

http://activerain.com/blogsview/1243528/is-the-fdic-killing-short-sales-

I know lots of people on this forum are waiting for houses to drop another 30-40% so they can get them at rock-bottom prices. Be careful what you wish for. If that were to happen, there would likely be riots in the streets and major police action. We’re starting to cut into “real” gains at this point – eg equity from 10+ years ago, pre-bubble.

What is far more likely is we will continue to see this walking-on-eggshells slow drip down of a handful of REO’s coming onto the market each month over the next 5+ years. The banks aren’t dumb. They know if they threw everything onto the market, it would tank prices, which would only screw themselves. They’re going to drag it out as long as possible, and barring another major liquidity crisis, that will be years and years.

[permabear]

[quote=DWCAP]”Actual value”. Nice. Value is what people will pay, not what you think your house is worth cause that is what you want for it. Good to see the bubble mentality is alive and strong.[/quote]

I just sold my home in 2 days because I priced it “just right”. I got a fair price – not too low, not too high.

I see others listing their homes at 10%+ more than they’re really worth. Then the home lingers for 90+ days, people start wondering “what’s wrong with it??” and THEN they DO have to drop the price below market.

Sellers are stupid. You want to build up buzz – the “this won’t last!” mentality.

[permabear]

[quote=DWCAP]”Actual value”. Nice. Value is what people will pay, not what you think your house is worth cause that is what you want for it. Good to see the bubble mentality is alive and strong.[/quote]

I just sold my home in 2 days because I priced it “just right”. I got a fair price – not too low, not too high.

I see others listing their homes at 10%+ more than they’re really worth. Then the home lingers for 90+ days, people start wondering “what’s wrong with it??” and THEN they DO have to drop the price below market.

Sellers are stupid. You want to build up buzz – the “this won’t last!” mentality.

[Author]

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