Posted on 09/10/2009 1:08:59 PM PDT by moose2004
I was fighting traffic on my way in to work today, when I heard a headline on the radio, something to the effect of, "Good news on the housing front! Foreclosures are moderating, potentially signaling an end to the housing crisis."
This is why people don't trust the news. Headlines.
(Excerpt) Read more at cnbc.com ...
Of course its misleading: http://www.freerepublic.com/focus/f-news/2335466/posts
This has been “fun with numbers and statistics” since 2005 and, frankly, decades ago. Eventually, as we are already experiencing, talk is irrelevant. When you are standing in two feet of water in your living room and the weather man comes on and says “great news, the water is rising slower than last month” you don’t suddenly splash for joy.
It’s amazing how the MSM is totally sugarcoating the nightmare we are all facing. My brother in law and sister in law bought a small house in Southern California early last year. The house is now worth half what they paid for it, and a full 1/3 of the houses in their neighborhood are empty because of forclosures.
Well said.
All real estate is local. Many parts of the country have few foreclosures, and prices have not fallen much. That’s because prices never rose much in those places.
Yep. I have lived in Seattle since 1966. I was looking at buying again three years ago, after renting for about seven. I saw what was going on and decided I’d be nuts to buy in this market. It was obviously a pyramid scheme. It’s obvious to EVERYONE now.
Meanwhile, I just bought 13 acres with a 2 year old house on it in central rural Kentucky for $98k. I bought in on a handshake last October and closed last month. I confess it may have lost $1,000 in value in the meantime.
So? It is not an investment. It will be my home and it is EXACTLY where I want to live, and has all the amenities I was looking for.
But I wouldn’t touch ANYTHING in any blue county with a ten foot pole.
But where it’s bad it’s real bad, and according to the pros foreclosures won’t peak until the end of 2010. Read Meredith Whitney’s comments this morning, they are very sobering:
http://www.cnbc.com/id/32773345/
So tell them to walk. Businesses break contracts all the time when the penalty is less than compliance. I will BET that compliance with that contract is going to cost more than breaking it.
You must be a Liberal. Contracts or your word means nothing.
They are definitely hating life in California now.
Piss off .... The rule of law in this country died with TARP funds, GM bailouts and the bank bailouts. Ruthless defaults are now the order of the day.
Piss off .... The rule of law in this country died with TARP funds, GM bailouts and the bank bailouts. Ruthless defaults are now the order of the day.
I struggle everyday with the question: Do you live your life and advocate for ideas as if you lived in a just world or as if you lived in the current world.
Everyday I see reasons for either answer. I will let you know when I figure it out.
I like your analogy... and your screen name. That was a great movie!
Dang, Moose! What area?
I can see both sides of that argument. One says we should live by our own moral and ethical code and the other say we must survive and desperate times call for desperate measures.
To each his own and I won’t judge either decision. Cheers to you both.
Oceanside.
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