Watched news on CNBC and Fannie/Freddie are reporting that fully 50% of the homes in the foreclosure are sitting empty. That was the number they used. One half.
A car driving off a cliff at about 5 mph would have little momentum and fall about like that second chart::New Home Sales vs. recessions for the last 45 years. New Home sales have fallen off a cliff.
Only Wiley Coyote falls straight down, and he usually has lots of momentum. (but that's the comics, right?)
A good sign IMHO. The NEW home market has collapsed to a level that will EVENTUALLY allow us to eat through some of surplus supply of foreclosures and short sales.
What Rob Dawg said. Drive through the central valley or deserts in CA and see tens of thousands of empty, "not-for-sale" overpriced houses just waiting for that magic turn-around that brings the market back to peak-bubble valuations. Even upper-crust neighborhoods have more empty houses than same time last year. With the jobs recession just picking up steam (esp. here in CA), I see the current data point becoming the first hump of a two-hump camel.
do realize that there are two levels at play here. The instinctive, animal level, where we
want to punish those who have done us wrong, while those who have done us wrong have done it
following their animal desires. There is also the rational level, of which to I am
referring to above. Realistically, I know the beast in us will take over and this will end
like it did in France in the 1790's. I will, however, not be the one holding the sword.
I came across this interesting site..check it out Econ & Finance
Ooh.
First?
Inching higher all the way down.
Well that seems to be a soft start for the big summer selling season. I guess the foreclosure moratorium being lifted, was not helpful.
Watched news on CNBC and Fannie/Freddie are reporting that fully 50% of the homes in the foreclosure are sitting empty. That was the number they used. One half.
Nobody's interested in modifications.
They're all walking away.
Every month that goes by increases the shadow inventory. At this point months of inventory isn't very useful.
Sorry for the quick next post ...
But the MBA just reported record foreclosures and delinquencies - and the largest share are prime loans!
best to all
quick-pigged!
A car driving off a cliff at about 5 mph would have little momentum and fall about like that second chart::New Home Sales vs. recessions for the last 45 years. New Home sales have fallen off a cliff.
Only Wiley Coyote falls straight down, and he usually has lots of momentum. (but that's the comics, right?)
get your comments in while they still are fresh out of the oven. Old Post comments only good for bread crumbs.
Yeah, but day old bread is still cheaper and has the necessary vitamins.
I'm gonna try an experiment. I'm gonna make snarky/stupid remarks on six month old threads and see if I can piss somebody off.
A good sign IMHO. The NEW home market has collapsed to a level that will EVENTUALLY allow us to eat through some of surplus supply of foreclosures and short sales.
Just read where the HUD secretary is to address NAHB members (bulders) on Friday...... let me guess..... "Dear food stamp recepient...."
What Rob Dawg said. Drive through the central valley or deserts in CA and see tens of thousands of empty, "not-for-sale" overpriced houses just waiting for that magic turn-around that brings the market back to peak-bubble valuations. Even upper-crust neighborhoods have more empty houses than same time last year. With the jobs recession just picking up steam (esp. here in CA), I see the current data point becoming the first hump of a two-hump camel.
do realize that there are two levels at play here. The instinctive, animal level, where we
want to punish those who have done us wrong, while those who have done us wrong have done it
following their animal desires. There is also the rational level, of which to I am
referring to above. Realistically, I know the beast in us will take over and this will end
like it did in France in the 1790's. I will, however, not be the one holding the sword.
I came across this interesting site..check it out Econ & Finance
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