Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-19-2009, 09:46 AM
 
Location: Raleigh, NC
20,054 posts, read 18,231,250 times
Reputation: 3826

Advertisements

Record number of mortgage loans are delinquent - Nov. 19, 2009

I think this should surpass 10% before winter is over.
Reply With Quote Quick reply to this message

 
Old 11-19-2009, 09:58 AM
 
Location: Londonderry, NH
41,478 posts, read 59,599,064 times
Reputation: 24858
No surprise there. Obviously the financiers wanted everybody to have a mortgage and everybody did even if they could not afford the payments. At this point I think the banks should write the loans off as bad debts and give the houses to the owners. This way the transfer of assets would be going in the correct direction.
Reply With Quote Quick reply to this message
 
Old 11-19-2009, 10:05 AM
 
Location: Sacramento
14,044 posts, read 27,139,035 times
Reputation: 7373
Quote:
Originally Posted by GregW View Post
No surprise there. Obviously the financiers wanted everybody to have a mortgage and everybody did even if they could not afford the payments. At this point I think the banks should write the loans off as bad debts and give the houses to the owners. This way the transfer of assets would be going in the correct direction.
Pretty consistent with your past postings, so I'll give you credit for being on message there.

My position is somewhat different, houses should be taken over by the banks immediately, and the occupants given a 3 day notice to vacate the premise.

I'm consistent too.
Reply With Quote Quick reply to this message
 
Old 11-19-2009, 10:15 AM
 
Location: Raleigh, NC
20,054 posts, read 18,231,250 times
Reputation: 3826
Quote:
Originally Posted by GregW View Post
No surprise there. Obviously the financiers wanted everybody to have a mortgage and everybody did even if they could not afford the payments. At this point I think the banks should write the loans off as bad debts and give the houses to the owners. This way the transfer of assets would be going in the correct direction.
Good luck with that and for getting any private entity ever lending money for houses for anything less than 15%.
Reply With Quote Quick reply to this message
 
Old 01-05-2010, 09:33 PM
 
Location: Raleigh, NC
20,054 posts, read 18,231,250 times
Reputation: 3826
Default Green shoots! GMAC plans to post $5B loss

GMAC headed for $5 billion loss - Jan. 5, 2010
Reply With Quote Quick reply to this message
 
Old 01-05-2010, 09:38 PM
 
Location: Hoboken
19,890 posts, read 18,702,645 times
Reputation: 3146
Yup things are looking rosey!

Contracts down: Is housing headed for double-dip? - Yahoo! News (http://news.yahoo.com/s/ap/20100105/ap_on_bi_go_ec_fi/us_economy - broken link)

"The number of people preparing to buy a home fell sharply in November, an unsettling new sign that the housing market may be headed for a "double-dip" downturn over the winter."
Reply With Quote Quick reply to this message
 
Old 01-05-2010, 09:42 PM
 
Location: Raleigh, NC
20,054 posts, read 18,231,250 times
Reputation: 3826
House prices are still WAY too expensive. Glad they're coming down to earth a bit. I'm eyeing some tasty Florida foreclosures, especially after the credit expires in April. Last I saw was a 4BR/2BA almost brand new in good condition for $40,000.
Reply With Quote Quick reply to this message
 
Old 01-05-2010, 09:48 PM
 
26,680 posts, read 28,594,779 times
Reputation: 7943
Reasonable people understand that we were close to having a second Great Depression, and that we're better off than we were a year ago.

Reasonable people will also understand that the unemployment rate under Reagan (the hero of the Republican Party) increased for the first two years he was in office. I seriously doubt that the current state of the economy would have been much different under McCain/Palin.
Reply With Quote Quick reply to this message
 
Old 01-05-2010, 09:51 PM
 
Location: Raleigh, NC
20,054 posts, read 18,231,250 times
Reputation: 3826
The depression is basically unavoidable. The only choice is whether the currency will be destroyed. So far, it looks all but certain.

The better off is simply temporary and we'll be sliding back into a comatose state in no time. Of course, the blame Bush card will have worn out by then.
Reply With Quote Quick reply to this message
 
Old 01-05-2010, 09:54 PM
 
Location: Hoboken
19,890 posts, read 18,702,645 times
Reputation: 3146
Quote:
Originally Posted by AnUnidentifiedMale View Post
Reasonable people understand that we were close to having a second Great Depression, and that we're better off than we were a year ago.

Reasonable people will also understand that the unemployment rate under Reagan (the hero of the Republican Party) increased for the first two years he was in office.

Reasonable people understand we are worse off than we were a year ago with resepct to unemployment and deficit spending, 10% unemployment record deficit.

The effect of doing nothing is unknowable however a reasonable argument could be mad that we would be in the same boat with a smaller deficit.

Reagan spent money but he also cut taxes which helped spur economic activity. Obama is spending and raising taxes not exactly a pro growth position.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top