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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (20690)	8/1/2007 8:37:42 PM
From: carranza2	Read Replies (1) \| Respond to of 217592

Bankuptcy filings in the EDLA are down significantly. What lender wants to take over Katrina real estate, pay taxes, insurance, etc., and not be able to sell it except for a pittance? So, although people are technically bankrupt, the banks don't bother to foreclose. Thus, the filings aren't made. When the stats are cooked up, I guess someone will claim the lack of filings means the BE's doing great. Yeah, right. I don't do bankruptcy, but I have wondered how the new credit card rules are working out. As I appreciate it, the debts cannot be discharged, though some sort of payment plan is part of the new scheme. The stupidist thing I am seeing is people cashing out equity to pay off credit cards and car notes. I guess it makes some sort of sense if they feel confident that they'll be able to keep paying the mortgage note. Are you seeing folks going BK b/c of re-setting of ARMs? The party may be over for now but Uncle Ben Bernanke isn't going to try to crush the economy like Hoover and the Fed did in 1929-1933. I think there is a consensus among central bankers to drain the liquidity pool before derivatives and belly-upping hedge funders create serious systemic risk, the kind which cannot be controlled even by massive interventions. We got into this mess by the Y2K farce, the dot.bomb burst and 9/11. Deficit spending and Iraq didn't help. Time to close down the party before real damage gets done. Subprime was just the first step. A good thing at the end of the day. Booms, busts, recoveries.......same old same old. The ones who'll get hurt are the apocalyptic dreamers like Jay who think it's a different paradigm this time. Putting all of one's eggs in a single basket is crazy. As legendary investor Sir John Templeton wisely said, the four most dangerous words to an investor are "it's different this time."

To: Ilaine who wrote (20690)	8/2/2007 1:32:17 AM
From: Snowshoe	Respond to of 217592

Alaska is seeing a steady rise in home foreclosures. We've had 600 so far this year, with another 600 expected by the end of the year. This is still quite mild compared to the dramatic collapse in the mid 1980s, when real estate went into a savage bear market.