Well its obvious really... Behind the scenes the IMF and the Money Masters of the Universe want a good bout of inflation to offset all the current deflation hence our recent loan by the IMF.
The return of the 100% loan from our banks hot on the heels of the IMF loan smacks of our own bailout or "stimulus" at the taxpayer expense.
Though lenders are moving in the right direction, Sharga said, RealtyTrac is revising up its estimate for filings this year and now expects a more prolonged foreclosure crisis.
Some 3.4 million households will get a filing this year, up from the prior estimate of 3 million to 3.2 million, and sharply higher than 2.3 million filings last year.
If the forecast is realized, it will be more than four times the filings in 2005, before the deepest housing crash since the Great Depression began.
"We had been thinking that this year would be the peak, but at the rate things are going right now, it's appearing more likely that late 2010 might be the peak year before things start to moderate," Sharga said.
A quick recovery is not in the cards, either.
"I don't expect it to be that 2010 will peak and 2011 will be the wonderful land of Oz," Sharga added."
8 comments:
In the Wall Street Journal nogal...
Troubles For Prime Borrowers Intensify
And so the next shoe starts to drop. Though Prime's are nothing compared to what Commercial, ARM's and Options are set to do going into 2010...
Hear Hear..... tough days ahead,real tough.
Heard the banks are lending willy nilly again... here's a taste of whats to come, showing at a SA theatre near you soon, LOL
http://www.timesonline.co.uk/tol/money/property_and_mortgages/article6804683.ece
Any comments on this article:
ooba house price index up 6,9% y/y -
http://www.property24.com/property24/news/FullArticle.aspx?articleid=10397
DISCLAIMER: Not looking for trouble - been reading this blog for ages - just curious as to what others think.
Well its obvious really... Behind the scenes the IMF and the Money Masters of the Universe want a good bout of inflation to offset all the current deflation hence our recent loan by the IMF.
The return of the 100% loan from our banks hot on the heels of the IMF loan smacks of our own bailout or "stimulus" at the taxpayer expense.
U.S. foreclosures near record, peak in late '10: report
One in every 357 U.S. households with loans got a foreclosure filing in August.
http://www.reuters.com/article/domesticNews/idUSTRE5890VR20090910
Though lenders are moving in the right direction, Sharga said, RealtyTrac is revising up its estimate for filings this year and now expects a more prolonged foreclosure crisis.
Some 3.4 million households will get a filing this year, up from the prior estimate of 3 million to 3.2 million, and sharply higher than 2.3 million filings last year.
If the forecast is realized, it will be more than four times the filings in 2005, before the deepest housing crash since the Great Depression began.
"We had been thinking that this year would be the peak, but at the rate things are going right now, it's appearing more likely that late 2010 might be the peak year before things start to moderate," Sharga said.
A quick recovery is not in the cards, either.
"I don't expect it to be that 2010 will peak and 2011 will be the wonderful land of Oz," Sharga added."
Yea I also heard banks like ABSA are giving out loans randomly. Right now property in Cape Town in at a good price.
But unless you have the money for it, don't get yourself into more debt by taking out a loan you cant afford!
The above looks like spam to me.
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