US. down down down

Can’t believe we haven’t had the Quo on this thread yet. Still, soon fixed.

The frightening collapse of the American economy in pictures - a food stamp map:

“It’s just a better life. It really is,” says Ms. Richey. Before defaulting on her mortgage, she owed about $230,000 more than the home was worth.

People’s increasing willingness to abandon their own piece of America illustrates a paradoxical change wrought by the housing bust: Even as it tarnishes the near-sacred image of home ownership, it might be clearing the way for an economic recovery.

Democrats want to raise government debt ceiling to $13 trillion,saves having to make two trips to the csh machine doesn’t it?When will the cash machine confiscate the governenments card? … et=&ccode=

Here is something for you to grab WGU
:mrgreen: … are-rising

I see the ‘weather’ being blamed for a decrease in activity more and more. Surely the other years with which the data is being compared to had ‘weather’ too?

I only mentioned what you said to a friend the other day.
Its a real scraping-the-bottom-of-the-barrel excuse.
Definately up there with ‘my dog ate my homework’. … et=&ccode= … 7econ.html

Biggest monthly increase in US home sales in 47 years.


This is my thread now and I’m getting to likin’ a talking to myself. :mrgreen: … et=&ccode=

From that article the taxpayer is getting stung doubly so with the hidden inflation tax.

Meanwhile Fannie & Freddie continue

Fed’s Focus: How to Sell Its Mortgage Securities → … Collection

Mortgage Madness - Let The Fleecing Begin - Mike Whitney → informationclearinghouse.inf … e25305.htm

Jobs, jobs, jobs…
Watch for the job reports in the coming months.
That’s what will determine the the direction of the housing industry in the near term.
No amount of opinions from “experts” will change the situation on the ground.
The foreclosure demographics have changed from that of the subprime market to the “prime market”. Therefore IF the jobs come back the foreclosures will subside leading to stabilization.
There is demand for plenty housing but the credit markets are still frozen.

‘Strategic’ Mortgage Defaults Reach 12% of Total
April 29 (Bloomberg) – Decisions by homeowners to walk away from mortgages they can afford are accounting for an increasing share of defaults, according to Morgan Stanley.
About 12 percent of all mortgage defaults in February were “strategic,” up from about 4 percent in the middle of 2007, New York-based Morgan Stanley analysts led by Vishwanath Tirupattur wrote in a report today. Borrowers are more likely to stop paying their mortgages the higher their credit scores and the larger their loans, they said … ?x=0&.v=12

WASHINGTON (AP) – Millions of Americans are still likely to lose their homes in the coming years, but the foreclosure crisis is finally showing signs of subsiding. … VDiuetiH5I


May 19th, 2010:

And their answer is … … tuati.html

Blue Horseshoe