Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Dan3 who wrote (82137)	7/27/2008 11:21:14 AM
From: The Reaper	Read Replies (2) \| Respond to of 116555

Not only could foreclosure sales mask the true identity of these sales numbers but a lot of these sales could be owners ditching one house that they are underwater and buying another now before their credit goes to hell. I personally know of someone who did that, not because they didn't have the money (over $1 million in bank accounts), but because they saw no economic reason to continue with the old mortgage when the reset was going to add about 60% to their mortgage payment. By the way, they had stopped paying their mortgage in January and to date have not received even a default notice on the first property. They moved into their new house last week.