TRIPLE RED ALERT!!! HOUSING MARKET IN TOTAL MELTDOWN!! PIN THIS!

On the other side of the coin,rent is going up more then 10 percent a year.With that in mind,it would be cheaper to own at some point in time,further,the housing crash is effected by the new appraisal laws.It is near the bottom.sorry no doom.just higher rental prices which eventually will force the renters into buying

Yosemetie Sam is Bang On, he calls it like it is.

Let's not forget commercial property....

over 1 million homes were foreclosed in the US in 2010. Only about half have been put on the market for sale so far and the banks are sitting on the rest because prices would drop another 20% or so if they flooded the market with the rest of their inventory.

Combine that with the fact that over 5 million US homeowners are currently 2 or more payments behind on their mortgages. More people are falling behind at a faster rate than the banks can foreclose on now and as the price of gas and food rise, the problem will only get worse. Imagine the problem 5 times worse.

FEDERAL student loans are in the amount of 40 BILLION dollars across the nation. Students can not repay them and the interest keeps rising. It is all by design....

holy shit

everyone don't pay any of your loans. Time to destroy the big banksters.

It just never made sense to me to pay for something more than once...Look at a full amortization of a typical mortgage: 165K turns into 400K! That's fuck'n dumb!!

I would gladly pay you Tuesday for a hamburger today.

People are stupid...always borrowing and promising to pay later...


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The U.S. economy has been based on those 'Stupid' people for the past decades. And those 'Stupid' people were encouraged with very easy credit. The reason easy credit was pushed was to get 'Stupid' people to consume....goods, services, housing, etc., because productive sectors of the U.S. economy have been dismantled and off-shored [GLOBALIZATION] and a consumer-based, easy credit, high debt, real estate bubble was perfected to mask the devastating effects globalization, especially the extraordinary one-sided trade deals with China [30 years of NON-STOP deficits in China's favor] has had on the U.S. and the American worker. If those 'Stupid' people hadn't all gone on spending binges and brought all that real estate the shit would have hit the fan A LONG time ago.

I wish it did hit the fan a long time ago...the longer we wait the more pain it causes.

Sorry, I didn't see that one. The TRIPLE RED ALERT caught my attention.

So all those new homeless I saw are not actually just drug users as I have been told.

Many don't have extended family or friends, and some have outworn their welcome and have no place to go but the street

ALT-A loans, that's what i was thinking of!




Last Edited by Archangel Raphael on 01/27/2011 11:45 AM

It's all the damm MORANS, HAWKO.

"Never a borrower nor a lender be."

People criticize the Bible up one side and down the other, but it turns out time and time again that the Bible's advice on how to build a healthy culture were right on the button.

We built this culture on usury, and now it's collapsing. Big surprise.

Yes this year is the commercial real-estate collapse.

And yet, somehow, CNBC managed to get a bullish headline out of it.

[link to www.cnbc.com]

This of course was the magic ingredient, but program traders' bots only read the headlines:

I have mine almost paid off, but if others don't pay theirs off because of the times were going through, I'm not going to hold it to them.

If it helps crash the system its a plus anyways

Greed and selfishness was their drugs...they just had to have a better home than they could afford and that new car they couldn't afford, and all those nice dinners at the restaurants they couldn't afford...etc

NYC is having a slight recovery tho.....landlords are not making concession on rents anymore and condos is starting to sell again....2008 was the first year ever I had an apt. vacant without a renter....this year building is all filled up again and I had people making offers on my building.....

Once again,rent prices rise 10 percent a year.That is money flushed down the toilet.Borrowing is a way to stable the continue in rent increases.I see it as a way to lower your yearly costs.It will be the single issue as to weather people decide to bow down to there landlords,or own and even become a land lord.Money saved is money earned.And when you factor in how many time renters pay to move the 10 percent rise is even more.

So how many people here think that all the bankers deserve bonuses now? They are ALL using accounting fraud to hide all of this. They should all be in jail.

pretty scary to think about all those students who have no fucking clue what they are getting into.and all those crooks out there that see future college students as nothing more than dollar signs.

I was sure in the summer of 2007 that a meltdown was imminent. The worst of it is, if they'd let it all fall then and put in some reforms, we'd be in the midst of a real recovery now.

The problem with bubbles does come straight back to a critical mass of stupid people though.

The housing bubble in Toronto and Vancouver is beyond even what California was at it's worst. Because there hasn't been a sharp drop yet like the one that is TOTALLY coming (thanks to all sorts of hidden Government supports they've delayed the POP for about three years now) people think I'm an idiot for my bearishness.

I felt like an idiot during the tech bubble too. I kept thinking how the fuck can someone invest in a 'dot com' whose business plan is to home-deliver $1 bags of chips or candy bars? What am I missing? What I was missing was the once-in-a-lifetime opportunity to con people out of millions and get away with it scott-free.

Last Edited by Jessica6 on 01/27/2011 11:54 AM

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What about the greed and selfishness of the multinational Too Big to Fail banks and corporations who got and continue to get bailed out, insider dealing, etc.,?

I'll be glad when the dollar collapses, because those on Wall Street will loose their ass, and their greed and selfishness was a drug as well, but more importantly, was the fuel for the fire of those loosing their homes.

Selling fraudulent securities to unsuspecting suckers stamped with an AAA rating, treating them like hot potatoes, because they new.

Therein lies the difference. People with jobs expect to always have a job

Wall Streeters with no consciousness, knew they were pushing fraudulent docs, and need to jump out a 40 story building real quick.

I think the private student loan industry is going to collapse in the US - basically lenders over the last 10 years or so were just throwing money at students. People run out of deferment or forbearance option with the private loans and are defaulting left and right. They are usually high interest loans and popular with the technical college.

I just watched some news program on MSNBC or one of those channels a few weeks ago profiling these people that are out of work and have like 200k in private and fed student loans. Their excuses were that education was more important and if they were getting an advanced degree, they assumed that any "new" job they would get would be paying shitloads of money and they would be able to pay their loans...now they are jobless with all these loans that are not dischargable in bankruptcy and they have no other option to default. Food, roof over your head or pay your student loans? Hmmmm.

prices are starting to creep up slightly in my little neck of the woods, and the builders are back outside building again...your results may vary