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

To: Broken_Clock who wrote (263127)	7/22/2010 4:02:21 PM
From: tejek	Read Replies (1) \| Respond to of 306849

The banks won't let a 300k note get discounted to some clown bidding 50k at auction. They did in CA during the early/mid 90s. I bought a 40 unit bldg at auction. My top bid was $350K......they tood me into a back room and negotiated me up to $400K. In CA they move the junk......better to get it out of their hands and move on. Of course, CA is very familiar with these booms and busts.

To: Broken_Clock who wrote (263127)	7/22/2010 4:22:11 PM
From: Skeeter Bug	Respond to of 306849

>>The banks won't let a 300k note get discounted<< h*ll, BC, the "systemically critical" (ie, the federal reserve insider banks!) banks will keep the home and have the tax payer cover the difference... IN FULL! they will then crash the market and use the back stopped cash to buy up more assets for pennies on the dollar! they think we are so dumb... unfortunately, they are so right in a general sense. a fool and his money are soon parted... society and its money is being parted - time to realize we are the fools!