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Prediction: 60% to 70% of all current mortgages will default!
2010 May 16, 5:16am 2,058 views 11 comments
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The Original Bankster
@
2010 May 17, 12:28am
The Original Bankster
@
2010 May 17, 12:28am
Taking a random Chandler property:
this is your problem, you're still in bubble mentality. Chandler properties aren't worth anything near what they were or are valued at. It's metro PHX that are the good buys. You have to think functionality, proximity, and economy and you certainly get that in metro PHX. Thing is that metro PHX properties depreciated along with places like Chandler, but they didn't appreciate nearly as much as those areas. These properties are undervalued.
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This is the boldest, and most pessimistic estimate I've heard about the US mortgage market.
On Friday, May 14, 2010, on the Alex Jones show, Bob Chapman of the international Forecaster predicted that this year, we will have 7 Million homeowners default, and that we will have numbers like that for the next two to three years.
In the end, 60 to 70% of all current mortgages will default!
If this happens, who will be left standing?
The best I can do is provide a link to infowars: www.infowars.com, scroll down on the right side, and click on the youtube video that shows Bob Chapman on 05-14-2010 (I tried to get the YouTube Link, but no joy).
Enjoy! :)
#housing