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FuckTheMainstreamMedia
@
2011 Aug 4, 3:42am
FuckTheMainstreamMedia
@
2011 Aug 4, 3:42am
I predicted to my friends 3 years ago we will have "Permanently High Foreclosure Rates".
...and I predicted in 2006 to all my friends and family home owners that this is the peak and nobody would believe me. They still still don't get why I am still renting. Talk about being so naive about ones finances. At least 2 of them bought again in 2008 and 2010.
You really have to check out El Bee's Long Beach housing blog. Strewn with condemnations of 2008 knifecatchers.....
http://longbeachhousingblog.blogspot.com/?ref=drhousingbubble.blogspot.com
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Here we are in our 5th year of the real estate crash and the banks are still accumulating foreclosures, extending and pretending, hoarding cash, getting low interest government loans, reinvesting those (our) dollars in government treasuries and making record profits. Meanwhile, prices trickle down and the waiting game goes on for those wanting to buy in good areas. In past real estate busts, we would have worked through most of the excess inventory by now and the bottom would be close.
Will the government ever force the banks hand and make them "mark to market", or does the charade continue on forever?
www.westsideremeltdown.blogspot.com
www.santamonicameltdownthe90402.blogspot.com
#housing