[Swigchow]

Just How Far Would Wall Street's Bonus $$$ Go? - The World Newser

• Wall Street is set to pay $140 billion in bonuses -- that's more than the annual budgets of the Department of Education, the CDC and NIH combined.
• According Bureau of Labor Statistics average salary for a middle school teacher is $52,240. You could pay 2.6 million teachers with $140 billion for a year.
• An average of 6,144,250 people are collecting unemployment in the U.S. with an average payment of about $325 a week. So the $140 billion could pay about 70 weeks of unemployment claims for the entire country

Curious, how many City Centers can you build with that amount?

[jaunespinoza]

Originally Posted by Swigchow

Curious, how many City Centers can you build with that amount?

Can't answer that one, but it looks like there will be a slightly used one coming to the auction block in the next year.

[olecapt]

Originally Posted by Swigchow

Just How Far Would Wall Street's Bonus $$$ Go? - The World Newser

• Wall Street is set to pay $140 billion in bonuses -- that's more than the annual budgets of the Department of Education, the CDC and NIH combined.
• According Bureau of Labor Statistics average salary for a middle school teacher is $52,240. You could pay 2.6 million teachers with $140 billion for a year.
• An average of 6,144,250 people are collecting unemployment in the U.S. with an average payment of about $325 a week. So the $140 billion could pay about 70 weeks of unemployment claims for the entire country

Curious, how many City Centers can you build with that amount?

Build 14...buy 28...

[RCCCB]

Originally Posted by Swigchow

Just How Far Would Wall Street's Bonus $$$ Go? - The World Newser

• Wall Street is set to pay $140 billion in bonuses -- that's more than the annual budgets of the Department of Education, the CDC and NIH combined.
• According Bureau of Labor Statistics average salary for a middle school teacher is $52,240. You could pay 2.6 million teachers with $140 billion for a year.
• An average of 6,144,250 people are collecting unemployment in the U.S. with an average payment of about $325 a week. So the $140 billion could pay about 70 weeks of unemployment claims for the entire country

Curious, how many City Centers can you build with that amount?

The article is NOT about a 140 BILLION and is about an AIG story of about 200 million which the government has the right now to restrict due to public loans given to bail AIG out.

Get the UNIONS out of the teachers as well and maybe then they would be worth a nickle.

Class size means NOTHING, I had classes with 60 people in it when I was in High School. We had no trouble learning because we had something called parents who parented. We were made to come to school prepared to sit, listen, participate and do all the required work.

Get the UNIONS out of all government connected employment. They are actually a monopoly in that situation which should be illegal.
Unions can not survive in the real world. All the private sector ones have forced businesses to close. Just look at GM as an example, they closed businesses down almost all places they infest.

Unions are a lot more of a problem in costs to our country in massive over payments than Wall Street profits could ever be IMO.

[jaunespinoza]

They crippled the airline industry, as well. In the 40 years that I have been flying domestically, one thing has never changes: The flight attendants are still old enough to be my grandmother.

[Slim10]

Interesting stats. Default notices down 4 times from last yr. Repos and auctions still the same pace. Total actions ~2/3s last yr.

Percentage of valley residences in foreclosure - Tuesday, Oct. 27, 2009 | 2 a.m. - Las Vegas Sun

October sales figures looks like its going to be high...

If default numbers don't jump, foreclosures (repos) should go down significantly in the coming months.

[gulfer]

Great post RCCCB. I grew up in Michigan and it's just SAD what the AAW did to our car industry. Turn a lug nut on a tire, start out at 17 bucks an hour and making 50 bucks an hour 15 years down the road with benefits that would make our congressmen ticked off. Honest pay for honest work... brand new Chevy Z71, Crew Cab, 4 wheel drive, would be about 22K. AND THEY WOULD SELL LIKE CRAZY!!!

[RCCCB]

Originally Posted by Slim10

Interesting stats. Default notices down 4 times from last yr. Repos and auctions still the same pace. Total actions ~2/3s last yr.

Percentage of valley residences in foreclosure - Tuesday, Oct. 27, 2009 | 2 a.m. - Las Vegas Sun

October sales figures looks like its going to be high...

If default numbers don't jump, foreclosures (repos) should go down significantly in the coming months.

Tons coming. How will the banks being able to fake the books effect the sales? Will they still keep most all of them off the market?

[RCCCB]

Vegas’s foreclosure rate highest in US

Vegas’s foreclosure rate highest in US - The Boston Globe

[Slim10]

Foreclosure rates has up there for some time now.

See Feb 08 report (then Las vegas was 3rd).
Detroit foreclosures highest in the nation - Feb. 13, 2008

It definitely not 5% every month. Otherwise you can safely say that every prop in LV is already foreclosed.

The key is "rate" and realtytrac does not indicate how it tracks its "rate". Not all foreclosure filings translate to foreclosures. Many are releases from defaults/liens once a foreclosed prop is sold. The question is how many props are actual default filings (which are future indicators) and this link below with the breakdown indicates that its a lot lower.

Percentage of valley residences in foreclosure - Tuesday, Oct. 27, 2009 | 2 a.m. - Las Vegas Sun

More importantly, sales turnover is also very high (4.5-5% of all props per year). It means that foreclosure inventories are being cleared as it comes in. Something like 70% of all home sales are foreclosed prop every month.

There are neighborhoods that have more than 25% foreclosed homes which have already transacted since '07 ie cleared from inventories. There aren't many foreclosed units left in those neighborhoods.

So the banks' aren't really holding on to foreclosed props and that's why its not on their books.

There's still more foreclosures to come but barring another massive economic collapse resulting in unemployment jumping to 30%, it should be past the high watermark.