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Foreclosures Rise 15% in First Half of 2009
CNBC
Thursday, July 16, 2009
The number of U.S. households on the verge of losing their homes soared by nearly 15 percent in the first half of the year as more people lost their jobs and were unable to pay their monthly mortgage bills.
The mushrooming foreclosure crisis affected more than 1.5 million homes in the first six months of the year, according to a report released Thursday by foreclosure listing service RealtyTrac.
The data show that, despite the Obama administration’s plan to encourage the lending industry to prevent foreclosures by handing out $50 billion in subsidies, the nation’s housing woes continue to spread.
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July 16th, 2009 at 6:12 am
america eqity average for homes in america is 20% so 1 in 5 people actually own a home and everone else has nothing. these are very bad numbers. who do you think owns the other 80%
but we will just keep on living our convuluded dreams until disater shows up on our front door..oh wait i dont have one.
J Reply:
July 16th, 2009 at 11:32 am
No one owns their home even if the mortgage is payed off. Slaves can not own land. Even on the deed it lists the people that think they own the property as tenets not owner. Every U.S citizen was put up as collateral in 1936 three years after the United States filled bankruptcy. Thats why we all have a social security number started in 1936. We are all human collateral, we are in no shape or form free.
July 16th, 2009 at 6:52 am
my boss handed out 600 foreclosure notices in 3 months in 1 county…here in Maryland
July 16th, 2009 at 7:30 am
Have you heard the latest bright idea of the Obamalites?
They want to make it so if you foreclose on your house they will let you rent it from them for a few years.
Yep, they’ll own your home.
Revolt. Stop the fascist pigs.
MilliniumJane Reply:
July 16th, 2009 at 8:58 am
Yeah, I read that on Drudge last night. Now they’ve made people so desperate that they are willing to consider this option. Sad.
July 16th, 2009 at 9:04 am
Gentle Readers:
Only the bank’s participation in allowing the maddening “race to the moon” with soaring property “valuation” occurred as a direct result of allowing increasing property assessments via property appraisers hired by the banks and or hired by the lenders. Without a PROFESSIONAL APPRAISAL the ballooning “valuation” of houses could never have occurred. It was ludicrous to assume that because neighbor Joe received a huge appraisal on his house that neighbor Jim could, too! Especially when the banks were supporting the notion that each house, oftentimes fairly modest house, was increasing in value by $2,000 a month for some very average non-descript entry level houses! Look at Long Beach, for instance — little 700 sq footage single family wood houses built in the 1920’s and 1930’s were being valued at over $350,000, and which translates to a whopping FIVE HUNDRED BUCKS PER SQ FOOTAGE! That sort of outlandish PER SQUARE FOOTAGE price translates to luxury style construction, usually including large lots of 1/4 acre to 1/2 acre or larger in very pristine upscale neighborhoods — though that was not the case with those very modest entry level houses, oftentimes located in some of the seedier parts of the city, where police choppers were heard nightly seeking out criminals committing home burglaries. The bankers, the appraisers, the lenders, the highly paid realtors, the escrow companies, the insurance agents, everyone involved in the sale of a hyper-inflated house sale knew that this was simply absurd, yet all freely participated! So, what was going on? It was not exactly self-deception. One of the biggest winners of that hyper-inflation period would be the PROPERTY TAXATION system — whereby 1% of sale’s price translates to enormous increase in county property tax revenues, and they surely weren’t saying anything, either.
As for rent to buy, well, that’s been a method for years for renters to achieve home ownership. Now reversed, or being proposed by the Obama people, a buyer becomes a renter in their same house, thus hoping to stabilize those neighborhoods now ravaged by every tenth or fifth house in some areas being foreclosed, and otherwise left to squatters and the general mahem resulting from so many houses being vacant. The houses may quickly fall into disrepair, or at least the lawns and trees and shrubs are sorely impacted due to lack of watering and lawns not tended, etc etc.
NARCO DEPENDENCE TO DESTABILIZE:
Well, I won’t say a word about the narco-gang neighborhood terrorists as part of a larger consequence to intentionally destablize entire portions of many cities, and creating violent reactionary measures for our entire nation, as part of the New World Order’s illusionary and bogus WAR ON DRUGS.
Surely that violence in terrorism is not so much “domestic”, as it has been sponsored quite deliberately to support foreign enemies, too ……..or how to account for so much illegal money floating in banks and financial institutions?! Is it FIFTY BILLION$, or closer to a HUNDRED BILLION$? Someone knew somewhere that there was a lot of money not appropriately accounted, and being “laundered”. “LAUNDERED”?!
It’s good that no-one is talking to Obama about any of the terrorism supported by the totally illusionary drug wars. He’s got enough on his plate in order to support our ONE QUARTER MILLION mercenary army. Just as General Smedley Butler aptly titled his book, WAR IS A RACKET. And how. Fortunately, we can depend upon security from Blackwater, and give a $100k job to a driver working for Haliburton or KBR in Iraq, or Afghanistan. War is a blessing for some! Keeps food on the table. And MEDICAL BENEFITS are just a bonus thrown in for good measure.
Fortunately, with the deep thinkers able to conceive of building another costly PRIVATE BUILT prison, we can afford to wharehouse tens of thousands of errant criminals who are medically sorely messed-up junkies at over $50,000 per prisoner per year. That makes a lot of sense to me. And they get free room and board, free medical, and a “free” caretaker-as-guard costing merely $70,000 per year. All of this in the LAND OF THE FREE, HOME OF THE BRAVE. Wouldn’t this make George Washington pleased?
THE UNITED STATES IS AT WAR!
I have not heard that we have ended our charmingly labled WAR ON TERROR, have you? I think it is supposed to be about 9/11, ultimately, but one can never be sure where the COLD WAR had ended, and without missing a beat, got us all inspired for a good olde grande WAR ON TERROR. It’s just marvelous. Most any nation on earth could harbor one, or perhaps a rag tag group of terrorists. Osama was one enemy, but then Saddam was easier to go after.
Let us all thank WAR INSPIRING PNAC, and those neo-cons, some who think of those neo-cons as very vicious, if not fully reptilian and asking, seeking, searching to create somehow, a NEW Pearl Harbor….. just in the nick of time, as the COLD WAR was grinding to a halt, bankrupting the Soviet Union.
Could they be called mass murderers, if somehow they inspired the Twin Towers to be fully insured just before the devious act occurred? Isn’t that a little form of potential insurance fraud, I dunno, it’s an absurd question on the face of it; and we are certain that they have their best and most qualified insurance fraud INVESTIGATORS on it. Did they find any THERMITE, too? Were there international reports that something was afoot? Would some people and corporations benefit if we declared war on Saddam, if we could just somehow get our NEW Pearl Harbor activated? Who are the criminals? Where, oh where could they be?
WE ARE AT WAR — borders are still open to illegals……. and all the rest. It’s a very curious sort of WAR, isn’t it? Declaring war on criminal elements? Or is it that CRIMINAL ELEMENTS WITHIN THE UNITED STATES, AND ELSEWHERE, can declare war on all of us?
I heard that the United States Constitution is just a piece of paper, not to mention the trouncing upon the BILL OF RIGHTS, good thing, you never know when we can ever need to resurrect habeas corpus, and if we will ever need the BILL OF RIGHTS, when seeking to find out how we can present torture, wrap it nicely, present it to nations seeking freedom, too? The enemy is so well-defined, or is it? Surely, we know about TERRORISTS. Spying, well, yes, there must be millions of potential spies…. get your phone. Call for 9/11 and see where that search leads.
“OLD EUROPE”, such a tender phrase, and from such a smart fella, too.
THOM HARMANN repeatedly states on national syndicated radio of AIR AMERICA that there is something called, wait for this one: THE UNDERBRUSH CRIME FAMILY. What could that mean?
There’s a book out, titled to imply that BUSH and BIN LADEN families are somehow interested in similar bidness ventures, internationally. It’s a good thing. We need all the help we can get, as we face national bankruptcy looming on the horizon. We gotta pump those oil profits, somehow. If gasoline prices increase, it can help people stay home even more.
There once was a thing called THE UNITED STATES CONSTITUTION. It must be in a safe, for SAFE KEEPING. Blackwater may be protectng us? Or some other large SECURITY FORCE from Florida, perhaps?
See much more thrills and spills: http://www.MadCowProd.com, and thank God we have another good American patriot, author of ‘WELCOME TO TERRORLAND’. American patriot Dave Emory has provided wonderful interviews of DANIEL HOPSICKER! Perhaps one day THOM HARTMANN may interiview DANIEL HOPSICKER, but probably not.
Other AMERICAN PATRIOTS
so noteworthy: GEORGE NOORY, ALEX JONES, THOM HARTMANN, RON PAUL, et al, etc etc etc etc etc.
End of silly rant.
GO SHOPPING! HAVE FUN.
July 16th, 2009 at 9:28 am
The fun hasen’t even begun, the big crash:
http://www.youtube.com/watch?v=shYJ_KkbzWg
Uncle Sam Reply:
July 16th, 2009 at 8:13 pm
Have a go at this video above!
Even though it is from the end of 08, it portends the s---ty Alt-A and option ARM problems to come…..worse than subprime.
Hell, even I didn’t go for one of those bulls--- options. Yeah, dude, I’ll give you 500K on your house and you can pay 1% for 2 years…..I wasn’t that stoned!!
Buy commodities. Chinese are NOT stupid. Like the rice, how can a billion people be wrong?
July 16th, 2009 at 10:06 am
The American Dream has become the Gulag Amerika Nightmare. Won’t be long before permanent holidays in Cuba will seem attractive.
USMC Grunt Reply:
July 16th, 2009 at 6:37 pm
no misha we are actually pretty far from the gulags….u beast….Вам жаль, что Вы не американскими, допускаете это
July 16th, 2009 at 10:14 am
The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
July 16th, 2009 at 3:58 pm
Thank goodness we gave all of our money to the banks, We may have had a depression or something.
The last act of a tyrannical Government is to LOOT THE NATION….Michael Rivero
July 17th, 2009 at 3:06 am
To add insult to injury, even though the banks gave no lawful consideration (see: http://propagandamatrix.com/fo.....l#msg2092) for any of the “loans” they extended, there are Austrian School cranks within the “liberty movement” who still have the nerve to euphemistically call this parasitic transfer of wealth a “market”-based “correction” or “adjustment,” when in reality it is nothing more nor less than a FRAUD-based LOOTING of the real economy.
There is apparently no amount of aristocratic propaganda that countless well-meaning people won’t fall hook, line and sinker for as long as the ideological snake-oil salesmen peddling it have cloaked themselves in the flag of “liberty.”
http://propagandamatrix.com/fo.....084.0.html
July 22nd, 2009 at 10:58 pm
Interesting article. Were did you got all the information from…