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In the past month the forclosure market has dried up around Phoenix, just when I was looking to buy. Apparently this new program to put the unqualified into neglected houses ought to work out great. It'll take about a year,when unemployment dries up.
401k was the greatest scam ever pulled on the american worker, just a way around ERISA
There are bout 300,000 homes that have been foreclosed on that have not been listed for sale by the banks yet. Then there are about another 1,000,000 that are in default that the banks just have not gotten around to foreclosing yet.
With the unemployment continuing to rise, these numbers are not going to get better. Our economy will not get better until the housing industry gets better. And with Barney Frank already talking about giving out loans to those who don't qualify again, well you can only guess how that will turn out.
Funny, they don't have Bush or the Pubs to tell them not to do it this time, who are they going to blame? Us, the evil rich, they have to blame someone?