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: Perspective who wrote (237056)	1/28/2010 8:37:57 AM
From: DebtBomb	Read Replies (1) of 306849

We know people that were saving up to buy a house in about 3 years because they couldn't afford one now....but they bought in 2009 instead, with the gov't giveaway. Considering, this (they stole future sales maybe 3 years out) and the demographics bust....there's no reason to build another house for maybe 15 years IMO. They dig us in deeper ever day. 1 in 9 houses are empty. Banks are sitting on (hidden) shadow inventory. 5 year option arms are about to blow to hell through 2011. These people are facing doubling and tripling of their mortgage payment. They are all foreclosures IMO. Maybe we'll end up with 1 in 8 houses empty after 2011. Same with autos....future sales were stolen maybe 3 years out. With cash for clunkers, they got people to take out auto loans that couldn't afford them. They'll probably get reposessed this year. Cash for clunkers alone popped GDP 1.7%. If any of these stimulus programs end (and they can't continue forever) we'll collapse, IMHO. Then what? Has ben thought about this? I doubt it. The same people that couldn't see anything coming, now are telling us everything is fixed.

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