[MrEdd]

Trillions will be lost because they were never there on the equity side.

[Brownie63]

The mortgage problem has never been adequately addressed. It will take more than good cheerleading and wishful thinking. These losses have to be declared sooner or later.

[snowrip]

Which will impact the economy in a more negative way: people losing their homes, or banks going under?

[cherry]

prices just don’t seem to have dropped here in Eastern Washington...they still want a ton of money for a smallish house in town......and land seems very high

[BealNoortz]

Obama’s Debt Reduction Commission has recommended elimination of the mortgage deduction on our taxes. I doubt it will happen but if it does, real estate prices still would fall further. Because mortgage interest is the largest tax shelter the average person has, many buy more house than they need.

[tflabo]

Why is it that in earlier decades we didnt have all this mass conundrum with mortgage foreclosures and sky high real estate prices? The artificially overpriced homes plus the big taxes to maintain them are putting a kabosh on the economy for so many.

[Toespi]

One has to wonder what will happen to the second mortgages on these foreclosures. I am betting over 40% of all foreclosures on first mortgages also have seconds behind them.

[ex-Texan]

Beware: The Second Real Estate Collapse is Coming in 2011 !

Please take a peek at my freeper page. Scroll down deep. I've been 100% correct in my predictions since early 2004. 'Nuff said here

[The Comedian]

Just-think-of-it-as-extreme-camping ping.

"Economic Holocaust" ping.

Increasing volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...

Today is a good day to die.
I didn't say for whom.

[Buckeye McFrog]

huge waves of foreclosures will just feed the media narrative they need to get a third-party economic populist on the ballot in 2012. Obama is counting on that.