Hard Economic Times in Pike County

[mathjak107]

Originally Posted by TheHighHat

Yes, Math and when people go to get their houses appraised they find out it's not worth what they thgouht. In fact the Pike County Courier said that bankruptcies are on the rise in Pike. I was checking out the foreclosure web site for houses in Wayne and Pike and that number is growing.

Hat

so far we moved in and the ski resort went bankrupt after being their 40 years, and the music festeval ends. whats next?

[mathjak107]

Originally Posted by TheHighHat

MermanMike,
I agree with you 100 percent. I have asked this questions several times and the answer I get is that the banks (corporate America) was making big money with these sub prime mortgages until the economony defaulted. Banks did not care as long as they were making the money. It is sad, but the people that really suffer are the ones who had to get mortgages based on down payment and good credit. And, the other thing is what were these people thinking that took out these mortgages?? Once the interest rates jumped, where was the money going to come from? I would love to know if you have any predictions into 2015. Sadly, as a result of all this, it was snowballed down to all of us in some way.

banks were selling these mortgages off, what did they care who they loaned to

[pocono livin for me]

Hat what is the web site for the forclosed homes in pike and wayne county.

[BLUEDIAMOND64]

Foreclosures - Foreclosure listings - Foreclosed homes - Foreclosures.com then look for the area you are interested in.

People are defaulting on subprimes and regular mortgages as well. Credit cards, student loans and car loans are being defaulted on. This is been the worst since 1970 and if it doesn't improve we are heading straight for a Depression. The issue is global and the sub prime started this entire mess.

[mathjak107]

people are defaulting on everything but on a large scale the defaults are still a small percentage. over 80% of mortgage payers are current. some areas are way worse than others , like florida, california,nevada. but overall still by themselves not a catastrophe. the catastrophe part comes from the lack of liquidity in selling these mortgage packages to investors as i explained above.

i think i read something like 67% of sub-prime borrowers from california are in some stage of default.

like we all say what were these people thinking

[BLUEDIAMOND64]

Defaults and subprimes are affecting everyone is some way. I just heard that Boscov's is closing down in Rockland. The issue is that if there are no jobs, bills do not get paid. I heard that Cleveland has the highest rates of foreclosures. Yes, what were these people thinking, but sad that it affected people like us who followed the rules.

[Bagldot]

Originally Posted by mathjak107

so far we moved in and the ski resort went bankrupt after being their 40 years, and the music festeval ends. whats next?

Any news lately about the ski resort? Heard there were reports that a company wanted to purchase to put ATV and snowmobile trails in there, has there been any news of late?

[mathjak107]

no takers yet. heard grumblings camelback may be talking to them..

[GodLivesInPa]

I bought a house in the Slate Belt am in a process of fixing it up and am struggling with all the bills I just had a new nat gas forced air furnace installed and ran the heat while the house was under constructioon the bill from PPL From Jan 15 to Feb 15 came to $286.00 and thats not including electricity!! Plus all the bills in NJ I have to pay I feel bad for all the people struggling with all the expenses. I am almost finished withthe renovations and am hoping to be renting it out in March.
The astrologer I am posting the link to I've read for years he was saying all that he said in this weeks report for years. I am trying to save but it's impossible. Many regards.
Here's a Polish Street band on Youtube:

YouTube - "GÅ‚os Siemiatycz" - Kapela "Zabuzaki" po raz drugi
amd a Gypsy playing for money at London Subway his accordeon sounds like an orchestra:
YouTube - atkinsontay's Channel
Lets be helpfull to each other durring these hard times.



Merriman Market Analyst - Weekly Preview

Stock markets around the world traded in a rather narrow range last week, consistent with the principle of Mercury slowing down as it changed from a retrograde to a direct motion. On Wednesday evening, Thursday morning, there was a lunar eclipse conjunct Saturn. Many stock markets were making a modest rally into that time, and then sold off a bit to end the week. But the big stories were in commodities. Crude Oil made a slightly higher new all-time high at 101.32 on Wednesday. Prices then retreated back to 97.16 intraday on Friday before closing the week at 98.81. Gold also made a new all-time high last week, on Thursday, at 957.10. Silver soared above 1800 for the first time in 27 years. The currencies were also very strong against the U.S. Dollar, with Euro back up above 1.4800, and challenging its all-time high of 1.4966 recorded back in November. In the food sector, Soybeans also soared to a new all-time under the lunar eclipse factor, topping out last week at $14.22/bushel. Despite the data of economic reports, it is apparent that raw goods prices are in a state of inflation, and with the Dollar falling again, this trend is continuing. And as we know from previous discussions, this trend could continue until the Saturn-Pluto cycle ends and begins anew, which is not until January 2020 +/- 18 months. Of course there will be mini-bear and bull markets within this long-term 32-37 year cycle. But basically the cycles gores like this: economic prosperity and favorable investment environment from the conjunction to opposition (1982-2001), versus commodity inflation and economic struggles from opposition to conjunction (2001-2020).

[mathjak107]

we have propane hot air and are only at the house weekends, the rest of the week we set the stat to 57. our winter heat is around 300.00 a month. electrtic about 40.00....... i figure if we were there full time about 400 a month