X, I just finished watching The Nightly Business Report on PBS and they mentioned RealtyTrac. Apparently the President (owner?) of RT is predicting a shit storm of REOs in the coming months.
Yes, I've read the same prediction from a few sources. The banks ave been holding off because of the holidays (they did it last year too). That and the realization that the bailouts, modifications and stuff are not working is probably going to cause a really big jump. I think there will be a whole new level of foreclosures coming from the job losses. You know there are people that have been in homes for years that will lose them due to job losses. I know 2 people that have recently lost jobs. If they don't find another soon they will have to try and sell or lose it to the bank. Another couple of my friends are sweating bullets about losing their jobs. It's gonna get real ugly this year.
4 comments:
No worries. I'm sure Congress will do a bang-up job managing the auto-makers. All they needed was more gov't oversight.
The good news is that we'll have our choice of colors for 2-bangers with enough fuel capacity to get us to and from the bus stop every day.
With Pelosi and Reed in charge, what could go wrong?
Seriously.. let these fools fail.
Cars are overpriced anyways.
X, I just finished watching The Nightly Business Report on PBS and they mentioned RealtyTrac. Apparently the President (owner?) of RT is predicting a shit storm of REOs in the coming months.
...just an interesting tid bit, I thought.
Yes, I've read the same prediction from a few sources. The banks ave been holding off because of the holidays (they did it last year too). That and the realization that the bailouts, modifications and stuff are not working is probably going to cause a really big jump. I think there will be a whole new level of foreclosures coming from the job losses. You know there are people that have been in homes for years that will lose them due to job losses. I know 2 people that have recently lost jobs. If they don't find another soon they will have to try and sell or lose it to the bank. Another couple of my friends are sweating bullets about losing their jobs. It's gonna get real ugly this year.
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