VoyForums

Support VoyForums by visiting our sponsor, www.PainEase.com.

[ VoyUser Login optional ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: [1], 2, 3, 4, 5, 6, 7, 8, 9, 10 ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 12:44:27 06/14/12 Thu
Author: john k
Subject: He wouldnt do this now would he?
In reply to: rabw 's message, "Re: Homeowners need Mitt to tell them what he would do!" on 12:23:45 06/14/12 Thu

Reuters) - Foreclosure starts rose year-over-year in May for the first time in more than two years as banks resumed dealing with distressed properties after a mortgage abuse settlement earlier this year, data firm RealtyTrac said on Thursday...

Short sales were up 25 percent in the first quarter of 2012, reaching a three-year high, since lenders can often fetch a higher price in a short sale than if they repossess them and then put them back on the market.

Part of this rise is due to a new financial agreement to get the housing market moving again. But if the economy had fundamentally improved in the past two years, people would be making their mortgage payments again and there would be fewer loans to foreclose. Instead, look for a spike in bank sales, in which the banks (and your 401k with bank stocks in it) take a hit, and increased inventory pushes home prices down.

Hope ‘n Change, baby!

http://michaelgraham.com/archives/unexpectedly-part-xxxvii-unemployment-inflation-and-foreclosures/

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Replies:

  • Re: Homeowners need Mitt to tell them what he would do! -- rabw, 14:11:21 06/14/12 Thu
  • Republican Plan = Trickle Down -- Popeye, 14:53:58 06/14/12 Thu
  • Re: Homeowners need Mitt to tell them what he would do! -- John Buczek, 15:11:56 06/15/12 Fri
  • Re: Homeowners need Mitt to tell them what he would do! -- Rufus Leaking, 12:48:01 06/16/12 Sat

    Forum timezone: GMT-5
    VF Version: 2.94, ConfDB:
    Before posting please read our privacy policy.
    VoyForums(tm) is a Free Service from Voyager Info-Systems.
    Copyright © 1998-2012 Voyager Info-Systems. All Rights Reserved.