Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Interesting that experts think the rate of foreclosures won't peak until some time next year...
Quote:
The number of U.S. households on the verge of losing their homes soared by nearly 15 percent in the first half of the year as more people lost their jobs and were unable to pay their monthly mortgage bills.
The mushrooming foreclosure crisis affected more than 1.5 million homes in the first six months of the year, according to a report released Thursday by foreclosure listing service RealtyTrac.
The data show that, despite the Obama administration's plan to encourage the lending industry to prevent foreclosures by handing out $50 billion in subsidies, the nation's housing woes continue to spread.
Quote:
Experts don't expect foreclosures to peak until the middle of next year.
Foreclosure filings rose more than 33 percent in June compared with the same month last year and were up nearly 5 percent from May, RealtyTrac said.
it is getting scary- empty storefronts are popping up like mushrooms in a cow pasture.
I see that in our downtown....it is a quirky little artsy fartsy place and appeals to tourons and certain other types....however there are quite a few empty storefronts now....
But it is all good,so sayeth Obama the Magnificent.
I see that in our downtown....it is a quirky little artsy fartsy place and appeals to tourons and certain other types....however there are quite a few empty storefronts now....
But it is all good,so sayeth Obama the Magnificent.
We are talking about small businesses and ma and pa shops. Funny how the one of the largest -small business lenders in America is about to go under and not a peep about bailing them out. I guess they arent big enough to not fail!
No, it's not getting better even though the man behind the curtain tries to tell you so. One day it's the worst economy since the great depression the next day, his borrowing plan is working. He knows that the American people are too stupid to believe otherwise. I guess he figures they were stupid enough to elect him, they are stupid enough to believe anything.
This may be the worst economy even beyond the great depression. The problem is, the gubmint is doing everything to actually make it worse, not better. Throw some more gas on the fire and see if that puts it out. Are they stupid or just trying to make a bigger fire?
I heard of another local small company that employs about 50 people moving their manufacturing off shore due to taxes and cap and trade. This is not a isolated event, it's happening all over more and more.
There is absolutely no way people should be extending themselves in any way at this point. Even if you think your job is secure, it is not. You should not even contribute to your 401K beyond what your employer matches. The next step will be the gubmint grabbing a portion of that too. The more that unemployment rises, the more it will rise because the gubmint is fanning the flames.
There are still those out there predicting things will improve. They have to right? After all every other recession has come around again. But we been hearing "it can't get worse" for 2 years now and it continues to get worse every day. Why can't it get worse still? It is afterall.
Your govt didn't even admit we were in a recession till last December after the recession was already 2 years old. Now we are in a depression sinking deeper and deeper and few will even admit that dirty D word. But we know better.
You hear older people tell you: "but during the Great Depression we had educated grown men in suits selling apples on the corner for 10 cents". To that I say yea but today we have grown educated men in suits flipping an advertising sign for a pizza palor on the corner for $50 a day. Tell me what the difference is?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
