Comments on: Housing bubble smackdown: Huge “shadow inventory” portends a bigger crash ahead http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html Wed, 25 Nov 2009 14:40:06 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: johnmayer http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html/comment-page-1#comment-340990 johnmayer Mon, 27 Apr 2009 09:57:46 +0000 http://www.prisonplanet.com/?p=9809#comment-340990 It is estimated that Obama's plan could benefit 8 to 9 million homeowners from the new modification procedures. So how do you know you qualify for the Mortgage Modification? Check the website <a href="http://obamamortgage2009.blogspot.com/" rel="nofollow">http://obamamortgage2009.blogspot.com/</a> to see if you qualify. I was also in trouble and I am glad I did check it before I talk to my mortgage company and it helped - John Mayer, California It is estimated that Obama’s plan could benefit 8 to 9 million homeowners from the new modification procedures. So how do you know you qualify for the Mortgage Modification? Check the website http://obamamortgage2009.blogspot.com/
to see if you qualify. I was also in trouble and I am glad I did check it before I talk to my mortgage company and it helped – John Mayer, California

]]> By: Mike http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html/comment-page-1#comment-337617 Mike Thu, 23 Apr 2009 16:16:51 +0000 http://www.prisonplanet.com/?p=9809#comment-337617 Hmmmm......if the government is taking over the failed banks through FDIC.....and the banks are holding foreclosed properties......and holding notes on homes not in foreclosure with clauses that read something to the effect of note payable on demand, which is pretty much a standard clause.......kind of starting to know how Native American Indians felt...... Hmmmm……if the government is taking over the failed banks through FDIC…..and the banks are holding foreclosed properties……and holding notes on homes not in foreclosure with clauses that read something to the effect of note payable on demand, which is pretty much a standard clause…….kind of starting to know how Native American Indians felt……

]]> By: Deadaim http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html/comment-page-1#comment-337558 Deadaim Thu, 23 Apr 2009 15:22:20 +0000 http://www.prisonplanet.com/?p=9809#comment-337558 I finally woke up about 6 months ago, and have dedicated my life to protecting my son's voice. When I read information like this, I just want to throw my hands up and give up. In a society oozing with tyranny, how in the hell am I going to sleep at night knowing I can only do so much. Being a single mom, and a homeowner, I take great pride in providing for my with no assistance from the government. But its those same CRIMINALS who are trying to take my dream and security from me. Its has overwhelmed me....thanks to Alex and his crew of infowarriors for keeping us informed. I finally woke up about 6 months ago, and have dedicated my life to protecting my son’s voice. When I read information like this, I just want to throw my hands up and give up. In a society oozing with tyranny, how in the hell am I going to sleep at night knowing I can only do so much. Being a single mom, and a homeowner, I take great pride in providing for my with no assistance from the government. But its those same CRIMINALS who are trying to take my dream and security from me. Its has overwhelmed me….thanks to Alex and his crew of infowarriors for keeping us informed.

]]> By: Jared http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html/comment-page-1#comment-337349 Jared Thu, 23 Apr 2009 06:57:53 +0000 http://www.prisonplanet.com/?p=9809#comment-337349 I have discussed the shadow inventory several times with friends and I don't think people realize what is really going on. The banks keep their inventories artificially low to constrain the supply side hoping to put a floor under prices. The Government, in collusion, keeps interest rates artificially low then use statistics that show 'upticks' in sales and reductions in publicly listed home inventories. This creates the smoke and mirror illusion that things are getting better. The ultimate goal is to bamboozle the public into a false sense of security in an attempt to lure (suckers) back into the housing market thinking this is the 'bottom'. Won't the poor sucker who buys now be upset when the inventories build again as the market is flooded once more. With the end to the foreclosure moratorium, another huge wave of NTS's coming. Our interest rates will rise uncontrollably due to the funny money printing (quantitative easing) and a growing distaste for our debt by the Chinese and Japanese. Asia will begin to look for alternative markets to build up their exports instead of relying so heavily on the U.S. As interest rates skyrocket, this, again, will put more downward pressure on housing prices. Consumers will no longer be able to obtain sub 5% mortgages. Rates will approach 8-10-18 percent and, with higher interest rates affecting the monthly payment, the consumer's purchasing power will go down pressuring home prices which, affordable at 5%, will be out of reach. So, thank you big government and screw you too. I have discussed the shadow inventory several times with friends and I don’t think people realize what is really going on. The banks keep their inventories artificially low to constrain the supply side hoping to put a floor under prices. The Government, in collusion, keeps interest rates artificially low then use statistics that show ‘upticks’ in sales and reductions in publicly listed home inventories. This creates the smoke and mirror illusion that things are getting better. The ultimate goal is to bamboozle the public into a false sense of security in an attempt to lure (suckers) back into the housing market thinking this is the ‘bottom’. Won’t the poor sucker who buys now be upset when the inventories build again as the market is flooded once more. With the end to the foreclosure moratorium, another huge wave of NTS’s coming. Our interest rates will rise uncontrollably due to the funny money printing (quantitative easing) and a growing distaste for our debt by the Chinese and Japanese. Asia will begin to look for alternative markets to build up their exports instead of relying so heavily on the U.S. As interest rates skyrocket, this, again, will put more downward pressure on housing prices. Consumers will no longer be able to obtain sub 5% mortgages. Rates will approach 8-10-18 percent and, with higher interest rates affecting the monthly payment, the consumer’s purchasing power will go down pressuring home prices which, affordable at 5%, will be out of reach. So, thank you big government and screw you too.

]]> By: J http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html/comment-page-1#comment-337298 J Thu, 23 Apr 2009 05:18:00 +0000 http://www.prisonplanet.com/?p=9809#comment-337298 I am a leasing consultant. I lease apartments to people who need places to live. This article is the truth. I've had an upswing in rentals because escrows are falling through. I've asked and asked why are the esrcows falling through. The answer almost every time is because the bank has out bid them. Not another bidder the bank. From what I got out of this they are going to hold the properties they bought at 1/2 price wait out this "recession" and as they say make bank. I am a leasing consultant. I lease apartments to people who need places to live. This article is the truth. I’ve had an upswing in rentals because escrows are falling through. I’ve asked and asked why are the esrcows falling through. The answer almost every time is because the bank has out bid them. Not another bidder the bank. From what I got out of this they are going to hold the properties they bought at 1/2 price wait out this “recession” and as they say make bank.

]]> By: Francis Schutte http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html/comment-page-1#comment-337268 Francis Schutte Thu, 23 Apr 2009 04:04:08 +0000 http://www.prisonplanet.com/?p=9809#comment-337268 Fractional Reserve banking and the creation of money out of thin air...This all started in 1971 when Nixon closed the Gold window and will go on until all of the misallocated funds are washed out of the system. This implies a lot of pain for the banks too... Fractional Reserve banking and the creation of money out of thin air…This all started in 1971 when Nixon closed the Gold window and will go on until all of the misallocated funds are washed out of the system. This implies a lot of pain for the banks too…

]]> By: Joe in JT http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html/comment-page-1#comment-337137 Joe in JT Wed, 22 Apr 2009 23:17:54 +0000 http://www.prisonplanet.com/?p=9809#comment-337137 My neighbor left his home due to forclosure. In the winter the pipes froze. Then the whole house flooded ruining the carpet, drywall, and now there is mold everywhere. Then a homeless person broke the window in the back and lived in there for a few weeks. If a realty company thinks they are going to sell that piece of crap they're mistaken. Nobody wants it now, it's ruined. Banks are in deep doo doo, it will cost thousands and thousands of dollars before another person would buy this house, and who would be dumb enough to spend money on that. My neighbor left his home due to forclosure. In the winter the pipes froze. Then the whole house flooded ruining the carpet, drywall, and now there is mold everywhere. Then a homeless person broke the window in the back and lived in there for a few weeks. If a realty company thinks they are going to sell that piece of crap they’re mistaken. Nobody wants it now, it’s ruined. Banks are in deep doo doo, it will cost thousands and thousands of dollars before another person would buy this house, and who would be dumb enough to spend money on that.

]]> By: norcal-1 http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html/comment-page-1#comment-336945 norcal-1 Wed, 22 Apr 2009 20:39:16 +0000 http://www.prisonplanet.com/?p=9809#comment-336945 Last night I was having a discussion on this topic with friends, Sacramento has close to 200,000 homes not on the market, people are living in them, not paying rent or they are in various phases of foreclosure, 200k homes not on the market, if they were the housing market would crash in california overnight from just one city, then the rest of the country would follow. Neighborhoods like oak park, natomas, elk grove, south sac. They are holding these back so that the right investors can come up off others misery and misfortune or stupidity. Last night I was having a discussion on this topic with friends, Sacramento has close to 200,000 homes not on the market, people are living in them, not paying rent or they are in various phases of foreclosure, 200k homes not on the market, if they were the housing market would crash in california overnight from just one city, then the rest of the country would follow.
Neighborhoods like oak park, natomas, elk grove, south sac. They are holding these back so that the right investors can come up off others misery and misfortune or stupidity.

]]> By: yellowhak1 http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html/comment-page-1#comment-336906 yellowhak1 Wed, 22 Apr 2009 20:01:54 +0000 http://www.prisonplanet.com/?p=9809#comment-336906 WHEN THE FUTURE NO LONGER NEEDS US comes to mind WHEN THE FUTURE NO LONGER NEEDS US comes to mind

]]> By: Mark P http://www.prisonplanet.com/housing-bubble-smackdown-huge-%e2%80%9cshadow-inventory%e2%80%9d-portends-a-bigger-crash-ahead.html/comment-page-1#comment-336879 Mark P Wed, 22 Apr 2009 19:39:34 +0000 http://www.prisonplanet.com/?p=9809#comment-336879 I hate to say this but I am not sorry for them. I am 45 and couldn't tell you the last time I saw an affordable housing plan go up. Each and every one of the new housing plans, and they were MANY, were the top level homes that only the top 1-5% of wage earners could afford. It was only a matter of time before these greedy developers ran out of top wage earners to buy these palaces. I say I am not sorry for them because it was all driven by greed. I worked with a fellow whose brother built some of these palaces. He would build them for 60k and sell them for 300k. He didn't care about the common family who could never afford such a place. His greed would not allow him to build something that could be sold for say 75-125k. Had they done this instead of manipulating mortgages to give folks homes they had no business buying due to cost, the market never would have collapsed. I hate to say this but I am not sorry for them. I am 45 and couldn’t tell you the last time I saw an affordable housing plan go up. Each and every one of the new housing plans, and they were MANY, were the top level homes that only the top 1-5% of wage earners could afford. It was only a matter of time before these greedy developers ran out of top wage earners to buy these palaces.

I say I am not sorry for them because it was all driven by greed. I worked with a fellow whose brother built some of these palaces. He would build them for 60k and sell them for 300k. He didn’t care about the common family who could never afford such a place. His greed would not allow him to build something that could be sold for say 75-125k. Had they done this instead of manipulating mortgages to give folks homes they had no business buying due to cost, the market never would have collapsed.

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