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Prepare for a huge dip in residential real estate prices as record # of unemployment benefits expire with few new jobs on the horizon. Even the gubmint can't save these folks.
Oh yeah, let's not forget commercial real estate bankruptcies based on retail and construction outfits going under.
Pull up a chair, sit back, grab some popcorn. This movie isn't even past the previews yet
Cant hold popcorn on a roller coaster ride.
This is what it will be like over the next 5 years or so:
I think the Real estate Market is near the bottom. Forclosures are drying up. The real problem will be when the government figures out that they can never pay off those trillions. they will have to grow the money supply until that debt becomes a manageable percentage of the economy. I doesn't matter which party will be in power, it's what governments do.
I think the Real estate Market is near the bottom. Forclosures are drying up. The real problem will be when the government figures out that they can never pay off those trillions. they will have to grow the money supply until that debt becomes a manageable percentage of the economy. I doesn't matter which party will be in power, it's what governments do.
Depends on where you live. Also many banks own homes that they have not yet put on the market. They are controlling the flow as much as possible right now.
I don't believe tht the recession is almost over, but there has been a shift. While it will take a while to trickle down and commercial RE will morph, I have seen more folks in restaurants the past couple of months. I think that's a good sign. Also have seen new condo sales up the past two months in some areas, in spite of lending still being a tough nut.
The big Q that I have is what will happen when banks start foreclosing on the properties that they have filed a notice of lis pendens on. They seem to be filing the LP and then just sitting it out in a holding pattern in HOA and condo associations. This is killing the associations.
I am personally still holding on until this wild ride is over, but did order an IPod a couple days ago- my big splurge in more than a year!
Depends on where you live. Also many banks own homes that they have not yet put on the market. They are controlling the flow as much as possible right now.
What I'm wondering is: How long can they continue to hold onto properties and control the flow? If there's nothing that requires them to put the houses on the market, the banks can keep the market artificially inflated all on their own, right?
I think the Real estate Market is near the bottom. Forclosures are drying up. The real problem will be when the government figures out that they can never pay off those trillions. they will have to grow the money supply until that debt becomes a manageable percentage of the economy. I doesn't matter which party will be in power, it's what governments do.
Ding, ding, ding................you win the prize (sad to say).
There is such a tendency in America to deny bad things. After 9/11, the media was talking about the need to get back to "normalcy". Say what??? Same thing here.
God, we are such weak people. Bad things happen, they always have. We are not somehow exempt because we are "American". Jettison the myths.
Prepare for a huge dip in residential real estate prices as record # of unemployment benefits expire with few new jobs on the horizon. Even the gubmint can't save these folks.
Oh yeah, let's not forget commercial real estate bankruptcies based on retail and construction outfits going under.
Pull up a chair, sit back, grab some popcorn. This movie isn't even past the previews yet
I think the government is anticipating this. Just the other day they are proposing that homeowners should stay in their homes as renters and are thinking of paying the banks to let them stay.
People are falling off the unemployment rolls but not because they have jobs; they have exhausted all their benefits.
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