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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (88230)	9/6/2007 1:53:39 PM
From: Tradelite	Respond to of 306849

Agree that the extent of this foreclosure thing is being overblown. I also get a kick out of watching people agitate about the potential well-being of smaller community or regional banks. From what I've read, these banks have little or no role in the subprime lending mess. Most of them deal primarily in business loans, and whether the loan is for business or residential purchases, the loans tend to be held in each bank's portfolio, are made with depositors' funds, and are granted according to the bank's own lending standards.

To: GraceZ who wrote (88230)	9/6/2007 2:16:20 PM
From: John Vosilla	Read Replies (1) \| Respond to of 306849

'..it'll be 1 in 62 American homes or at a rate not seen since the Great Depression. That is if you don't count all the farms foreclosed on (which was where most of the population still lived. I'm descended from a family that lost their farm in the Great Depression.' Does this include tax foreclosures which are usually the way land is lost? Funny in the Bush economy we have lower taxes on the federal level at the top but everyone else getting hit from all sides especially those who own real estate and get ever mounting tax bills that have skyrocketed to help pay for local municipal services

To: GraceZ who wrote (88230)	9/6/2007 3:42:39 PM
From: kathtoo	Read Replies (1) \| Respond to of 306849

Well, when you consider the depression statistics, we might be at the beginning of a depression cycle, in which case we would have to wait about 8 to 10 years to make a comparison of statistics (if this is the beginning of a depression). Seattle's Craigs List has only 3 foreclosure jobs posted, but there were 2 pages worth on Orange County Craigs List. This whole foreclosure thing is just in its beginnings. I suspect Seattle will have a significant increase in foreclosure job openings in the months ahead.