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Old 07-21-2008, 03:05 PM
ira ira started this thread
 
Location: Bergen County
657 posts, read 3,920,051 times
Reputation: 297

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WTF??? (excuse my French) I read this on Zillow by some guy who is supposed to be a real estate guru. Who would write such nonsense??

(IRVINE, CALIFORNIA) According to newly released data from Irvine, California based RealtyTrac, a foreclosure monitoring service, Bergen County, New Jersey now has the highest foreclosure rate in the nation, with every single house in some stage of foreclosure as of July 1st. Many people are surprised by the report since Bergen County is a wealthy suburb of New York City that is popular with celebrities and Wall Street executives. According to Julie Smith, a realtor in Fort Lee, “The foreclosure crisis has devastated Bergen County because we have the highest property taxes in the nation. It’s absolutely ridiculous. Crack houses in Hackensack and Englewood are paying close to $50,000 a year.” Lou Dobbs, hosted of the syndicated television program “Lou Dobbs Tonight” on CNN and a Republican candidate for governor, blames the Democrats for the foreclosure crisis facing Bergen County. “These tax and spend liberal Democrats,” Dobbs said “have bankrupted New Jersey and destroyed the middle class.”

One person who is not surprised with the report is Mark Zandi, chief economist of Moody’s. “With the recession in full affect,” he said “there are few people who are buying rap albums and there are tons of layoffs on Wall Street.” Just last week, Goldman Sachs laid off their entire workforce and replaced with lower-paid illegal immigrants while many former Bear Stearns employees are now making their living by mopping the floors at fast food restaurants for minimum wage.
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Old 07-21-2008, 03:10 PM
 
Location: Jersey City
7,053 posts, read 19,203,309 times
Reputation: 6906
LOL was this copied from The Onion?
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Old 07-21-2008, 03:19 PM
 
9,295 posts, read 16,577,548 times
Reputation: 15745
Perfect example of media reporting statistics which no one bothers to check.
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Old 07-21-2008, 03:25 PM
 
Location: NJ
12,283 posts, read 35,577,577 times
Reputation: 5330
Quote:
Originally Posted by lammius View Post
LOL was this copied from The Onion?
i think we have a winner!
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Old 07-21-2008, 04:07 PM
 
5,340 posts, read 13,912,352 times
Reputation: 1188
Uhm... yeah
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Old 07-21-2008, 04:14 PM
ira ira started this thread
 
Location: Bergen County
657 posts, read 3,920,051 times
Reputation: 297
Quote:
Originally Posted by lammius View Post
LOL was this copied from The Onion?
OK, talking about embarrassing.....LOL

I am usually not that clueless, I swear
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Old 07-21-2008, 06:23 PM
 
Location: NJ
12,283 posts, read 35,577,577 times
Reputation: 5330
Quote:
Originally Posted by ira View Post
OK, talking about embarrassing.....LOL

I am usually not that clueless, I swear
bwhahaha ira....you have wee ones, don't you? we'll forgive you this time...
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Old 07-21-2008, 09:49 PM
 
Location: Houston, Texas
10,447 posts, read 49,510,410 times
Reputation: 10614
Sorry about the 2 deletions. I could not get the size to fit.

Anyway here is the link of the real numbers.

California cities fill top 10 foreclosure list - Aug. 14, 2007
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