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Our grandchildren will still be dealing with this mess.
At some point, however, the degradation of property empty for 3 years or more (especially in sun belt states), would indicate that the next group to win big will be those who own wrecking balls and bulldozers.
Oh, that's excellent!
Some lady on the "Today" show or other morning yawn-fest, said that if you have two homes for sale in a three-block area, you're probably in a down market.
There are four homes for sale on my street, so does that mean I'm in a collapsed market?
I feel left out of the Average Foreclosure Discount Chart....but we do shoot sunshine up your ass when we sell ya a foreclosure, NO MATTER HOW MANY BUYERS CLOSE ON THE SAME PROPERTY!
These defaulted loans in MBS need to be foreclosed on with documentation of the putbacks so that the chain of title may be preserved. For those who wish to see a federal approach, have the DOJ indict MERS and its officers on racketeering charges, close the doors, and seize all records.
It is not the speed of clearance of the collateral inventory from defaulted mortgage loans that is desirable, it is the ORDERLY and timely clearance of the inventory. Otherwise, the sales merely bury the bodies. Rapid foreclosure creates supply but confidence is a driver of demand.
Assure me of a clear title so that I can buy and improve investment property, then I consider shopping.
this really was a fine posting....basically the market is highly constipated - it can't clear and nor should it be allowed to do so until legal matters are resolved and justice properly served....
for all of this we have barney frank, chris dodd, and other assorted crooks to thanks...i am sure joe lieberman can be blamed somehow on this...
So, it's not a buyer's or seller's market and now we have to be concerned it's not a forecloser's market?
Everyone participating in real estate is a knowing participant in a Ponzi scheme. How does this change your data?
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