[Night Hides Not]

There's at least one million more homes that will be foreclosed over the next two years. As a result, home prices won't be going up anytime soon.

Under HAMP, the can is getting kicked down the road: home mortgages are being modified, reducing monthly payments upwards of $800-$1000.

The real problem for 3/4 of these folks isn't their home mortgage, it's their credit card debt. Their ability to pay those down is being devoured by gas prices heading to $5/gallon.

Obama's being too cute by half. We all know he wants gas prices to skyrocket, yet he's too narcissitic to realize that he won't be re-elected next year unless gas prices fall back to $3/gallon.

[org.whodat]

I bet it much more than a million. About 13% of all the homes in the country are empty. So hell what's a few million more, and sooner are later the ones kicked down the road will also be foreclosed on. I don't care what the shysters in the real estate and loan market say, if you cannot afford a down payment you cannot afford a house.

[OregonRancher]

YOY last December saw 6.1 million foreclosures with an estimated 12.6 million more in the next 36 month.

January decline forecast was a 10% median reduction by June.
It was reached by the end of March.

CRE is now rolling down hill and will only make the entire
market tank further.

Don’t be a knife catcher.

SFH near here sold 2009 for $475k, resold last week for $220k. In 2006, valued at $625K.

[ExtremeUnction]

Houses in Roseville CA that were going for 1.1 million four years ago can now be had for $550,000. A big loss for some, but a big win for others.