The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: MulhollandDrive who wrote (239193)	2/24/2010 10:18:58 AM
From: MulhollandDrive	of 306849

dolan media conference call: "We think it is consistent with the timeframe. There's not a change in how we see the future.We think there's about a 5-million-loan pool of seriously delinquent or preforeclosure loans, if you want to call them that -- loans that would normally be in foreclosure now but they aren't. That -- so it has swollen to 5 million now, which is more than the annual run rate of foreclosures we expect to see this year. We're certainly going to do more than 3 million foreclosures a year as a country now in the 2010. And that 5 million continues to grow. It outpaces the bleed-off rate of foreclosures happening. There aren't many alternatives. You can't rewrite the laws of economics, so either massive forgiveness of the principal by owners of the paper -- which is going to focus the pain on one are of the business community -- or --. The pain has to be suffered somewhere. The pain can't be avoided. And people smarter than me with a lot more experience than I have have been working on this for a long time and nobody's really found a solution to it" Jim Dolan, Dolan Media Company.

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