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RE:60 Minutes The Housing Collapse of 2010 Will Be Worse Than 2008
Very few even want to know about this Omega. I too have been trying to warn people.... however, it causes them fear and they block out what I say.
I have found a couple in my city who are "with it".... they have a website which I'll post and those who are interested can contact them.... they know what is coming. They are interested in connecting with others of "like mind".
RE:60 Minutes The Housing Collapse of 2010 Will Be Worse Than 2008
CanuckWrote:
Very few even want to know about this Omega. I too have been trying to warn people.... however, it causes them fear and they block out what I say.
I have found a couple in my city who are "with it".... they have a website which I'll post and those who are interested can contact them.... they know what is coming. They are interested in connecting with others of "like mind".
RE:60 Minutes The Housing Collapse of 2010 Will Be Worse Than 2008
I too have a dept to the bank on my home. I seen this coming a long time ago, so to cover my ass I brought a mobile home for cash, just in case. If it comes down to it, at least I'll have a place to live. I'm into preparedness, and for me this is part of my game plan.
User ID: 163 (OP) 12-21-2009 09:30 PM
Posts: 17,775
RE:60 Minutes The Housing Collapse of 2010 Will Be Worse Than 2008
Looks like this aired at least a year ago. I wondered because he asks how bad will it be in 2009? indicating that it was in 2008. Posted on youtube 12/16/08.
We knew this was coming. Since it's "dated" I don't think 2010 is going to be that bad. One reputable bank I checked is still giving mortgage loans with 5% down.
I'm interested in what's going on with the commercial real estate market. That was the most fascinating part of the real estate licensing class. There was an article last May, I thought in the NYT but I can't find it.
Angry Birds just pisses me off.
User ID: 163 (OP) 12-21-2009 09:44 PM
Posts: 17,775
RE:60 Minutes The Housing Collapse of 2010 Will Be Worse Than 2008
the authorWrote:
Looks like this aired at least a year ago. I wondered because he asks how bad will it be in 2009? indicating that it was in 2008. Posted on youtube 12/16/08.
We knew this was coming. Since it's "dated" I don't think 2010 is going to be that bad. One reputable bank I checked is still giving mortgage loans with 5% down.
I'm interested in what's going on with the commercial real estate market. That was the most fascinating part of the real estate licensing class. There was an article last May, I thought in the NYT but I can't find it.
Bullshit it's gonna be much worse look at the resets. And this ain't even taking into account the commercial real estate market.
The banks have not marked to market their toxic assets.
Freddy and Fanny are toast only a matter of time.
Who has 5% down lmao.......
Better have a FICO of 800 lol.....
This party ain't over by a longshot.
Man will never be free until the last politician is strangled with the entrails of the last banker - Diderot
User ID: 163 (OP) 12-21-2009 09:48 PM
Posts: 17,775
RE:60 Minutes The Housing Collapse of 2010 Will Be Worse Than 2008
Source: Forbes
A crushing burden of debt threatens to sap America's growth for years to come.
Not too long ago, a billion dollars in a governmental budget was a lot of money. Then we got into hundreds of billions. People understood that this was a lot, just because of all the zeros. Now, unfortunately, the number has become small: the world "trillion," as in $1.2 trillion for health care reform, seems so tiny. But it has 12 zeroes behind it, which is so easy to forget.
If the government stays on the course it's been on for the past forty years without a radical change, the federal government will soon have a $10 trillion budget.
In other words, the federal budget deficit will be $1.4 trillion. Just to make the size more visible, that's $1,400 billion.
Our colleague Rob Arnott, who always does terrific research, wrote in his recent report that "at all levels, federal, state, local and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company--only Japan, Lebanon and Zimbabwe are higher. That's only the start. Add household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balance-sheet swaps and derivatives) and our total debt is 557% of GDP. Less than three years ago our total indebtedness crossed 500% of GDP for the first time."
Add the unfunded portion of entitlement programs and we're at 840% of GDP.
Max Powers La Poster Nostra User ID: 1430 12-21-2009 09:52 PM
Posts: 5,155
RE:60 Minutes The Housing Collapse of 2010 Will Be Worse Than 2008
The U.S. housing market continued to deteriorate in the third quarter as even the most credit-worthy borrowers increasingly fell behind on their mortgages, highlighting the problems policy makers have faced in trying to address the problem.
A new report from the Office of Thrift Supervision and Office of the Comptroller of the Currency found that the percentage of current and performing mortgages dropped for the sixth consecutive quarter, as foreclosures in process topped 1 million mortgages at the end of September. The report covers roughly 34 million loans totaling $6 trillion in principal balances, or approximately 65% of the U.S. mortgage market.
The regulators said that serious delinquencies, loans that are at least 60 days past due, increased across all loan categories and climbed to 6.2% of the loans in the portfolio during the third quarter. The report said that just 67.7% of option adjustable-rate mortgages were considered current at the end of the third quarter, while 27.9% were either seriously delinquent or in the process of foreclosure.
RE:60 Minutes The Housing Collapse of 2010 Will Be Worse Than 2008
OmegaWrote:
Bullshit it's gonna be much worse look at the resets. And this ain't even taking into account the commercial real estate market.
The banks have not marked to market their toxic assets.
Freddy and Fanny are toast only a matter of time.
Who has 5% down lmao.......
Better have a FICO of 800 lol.....
This party ain't over by a longshot.
If I only ask $100k for this place, that's $5k. Turnkey and charming, with offstreet parking in the city. Someone will buy it, or I'll just drop the price since I owe far less than the asking price. Buyers can't find ANYTHING inhabitable in a decent neighborhood in this city for that price. It HAS to sell or I'm stuck here.
Forgive my idiocy, but weren't those toxic assets allegedly taken care of by the bailout, and bad ARMS by the refinance programs? I'm just sayin' that video is a year old, what has happened in the interim that has effected the market?
What can you find on the commercial real estate market?
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