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Barry Ritholtz on the Ghosts Haunting US Housing Market

By Patrick   Follow   Sun, 19 Aug 2012, 9:01am   428 views   2 comments
In Menlo Park CA 94025   Watch (0)   Share   Quote   Permalink   Like (1)   Dislike  

http://www.capitalismwithoutfailure.com/2012/08/barry-ritholtz-on-ghosts-haunting-us.html

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1. HEY YOU Follow Befriend (4) 329 threads 917 comments

   1   9:15pm Sun 19 Aug 2012   Share   Quote   Permalink   Like   Dislike   I had not heard the term strategic non- foreclosures. I think Barry Ritholtz lays it out as clearly as possible.

2. David9 Follow Befriend (3) 28 threads 747 comments Tarzana, CA

   2   10:43pm Sun 19 Aug 2012   Share   Quote   Permalink   Like   Dislike   Exceedingly rare indeed. I liked: -- The major banks are all 'internal disasters' -- Once you sign a mortgage and property value drops 'The only way out' (from the video) is to write a check to the banksta. Been there, didn't do that, not interested. -- Flip it too the 'greater fool' (Most properties available near me are flips and many sell eventually) -- Banks are reluctant to foreclose (at this point, ya think?) -- 2.8 million loan owners are 12 months or more behind in their payments. (Maybe this guy is wrong about 90 % of these becoming a distress sale, who knows what magic fairy awaits around the corner, let's have an open mind.) -- Banks asking loan owners to pay the property taxes (First time I heard of that.)