Foreclosure Tsunami. Proof of the Coming Real Estate Collapse.
Posted on March 1, 2009
Filed Under home foreclosure investing |
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Listen to RealtyTrac analysis of foreclosure tsunami January 26th, 2009, 5:45 pm
Interview with foreclosure tracker Rick Sharga of RealtyTrac on whats the chance that what he calls a tsunami of missed mortgage payments will abate anytime soon. I had to cut the first 4 minutes due to the time limit. But, please listen closely at 2:18, Mr. Sharga talks about Shadow Inventory. It’s shocking~!
What I learned today will have devastating ramification for the real estate marketing and in turn the entire financial and stock market and the broader economy as a whole.
If true…our real estate fate is seal. There will be more housing and real estate foreclosure carnage ahead. The road is long.
Prepare yourself and protect your family from this coming economic catastrophe.
PLEASE RATE, LINK, SHARE and SPREAD the word so others can learn about the real nature of our real estate and economic crisis. Don’t be a sponge to the talking heads that spew only that which benefits them and their bosses. Wake up!
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From L.A Times:
Bulk of bank-owned homes aren’t even on the market yet
“Banks to unleash flood of REOs” at Inman News looks at the effect of foreclosures on the housing market this year:
Inventories of unsold homes are likely to swell in coming months as lenders begin to push a growing backlog of repossessed homes up for sale — often in communities already awash in distressed properties….
Because it can take weeks or months for lenders to put repossessed homes on the market, the impact of real estate-owned (REO) properties on inventories lags behind foreclosures. Government efforts to recapitalize banks through the Troubled et Relief Program (TARP) and other bailout measures may also have taken some of the heat off of lenders to unload REO properties at fire-sale prices.
But with the emphasis of TARP and other government relief efforts now expected to shift to creating jobs, helping troubled borrowers avoid foreclosure and providing incentives for home buyers, lenders could soon unleash a torrent of real-estate owned, or “REO” properties — even in markets already flooded with an oversupply of homes for sale.
“It’s almost like a tsunami — you can see it coming and you know it’s going to hit but you can’t get out of the way,” said Ann Stickel, vice president of affiliated services with Sarasota, Fla.-based brokerage Michael Saunders & Co.
So how many bank-owned properties aren’t even on the Multiple Listing Service yet? RealtyTrac senior vice president Rick Sharga puts the number at 75%. That’s a lot of houses.
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Tags: “The dollar collapse” “housing crisis” “financial crisis” subprime hyperinflation inflation economy “economic collapse” “stock market” “stock market collapse” “real estate” fed “federal reserve” money “fiat money” gold silver commodities housing bubble 2009 2008 downfall investing for sale training agent agency selling subprime Peter Schiff Jim Rogers Gerald Celente Alex Jones Ben Bernanke
Duration : 0:10:3
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17 Responses to “Foreclosure Tsunami. Proof of the Coming Real Estate Collapse.”
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Very informative… …
Very informative…..Thank you. I think its a BUYERS MARKET cause in my neck of the woods its cheaper to buy a house than to rent. Aaaaah……Its the never ending cycle of real estate.
I live in San …
I live in San Francisco. I expect this to take at least 5-10 years to bottom.
u r about 3 years …
I have proof that my property that bought 1.5 years selling for 3 times what I paid for it
u r about 3 years late
RE market is very vast and depends mostly on local demand and supply
Higher priced location have a long way to go down .
of course you do …
of course you do not invest in real estate these days. Save your savings : buy gold and silver. Buy real estate in 2015
GREAT STUFF
GREAT STUFF
The root of the …
The root of the problem is not mortgage debt. Its our evil government, wall street and the global capitalists.
People who think …
People who think they have “equity” in their homes are delusional. The foreclosure sale prices IS the market price. The Alt-A wave is coming and when it’s done everyone will be “upside down” - more and more layoffs and bankruptcies will further deflate the market and Obama’s spending will bankrupt the country. Housing is NOT an “investment” it is a liability. Rent - don’t buy.
A lot of adjustable …
A lot of adjustable rate mortgage(ARM) loans are suppose to kick in this year and next year. They are predicting some may not be able to make those monthly payments under the new adjustments. If you have an ARM loan you better be trying to get that changed over to a fixed rate as soon as possible. In this current economic climate some banks may agree to those changes.
Tsunami are drive …
Tsunami are drive nby deep molecular nuclear fusion, set off by underwater Earth quakes.
With all the …
With all the financial problems of our day, people should be beseeching God for His mercy and guidance. Just as He gave Noah 7 days to enter the ark (Gen 7:4,10), He has given mankind 7000 years from the flood to enter the safety of Christ (The Door) (2 Pet 3:8). The flood occurred in the year 4990BC. 7000 years from this date lands on 2011, the year this present world will be destroyed by fire (2 Pet 3:10-13). Anyone interested can click on my name and follow the weblink.
Thank you for …
Thank you for uploading this video
watch this :
watch …
watch this :
watch?v=qE7xrv7-1MU
do not be morons property is better than cash
cash soon will be worthless
honestly ? this is …
honestly ? this is total and complete bullshit
One quadrillion …
One quadrillion dollars is the sum of outstanding fake derivatives
The latest bailout (bank heist) is $5 trillion, triple the original $700 billion; Amazingly the FED has been paying these bankers 188 billion a day all along
Add together the unfunded liabilities from Medicare and Social Security, and it comes to $99.2 trillion over the infinite horizon; Richard W. Fisher, the President and Chief Executive Officer of the Federal Reserve Bank of Dallas, (July 22, 2008 San Fran Chronicle)
Fed debt per person …
Fed debt per person: $58K
Un-funded Medicare/Medicaid per person: $332K
Fed’s plundered trusts per person: $30K
Un-funded SS: $166K
Every American owes: $586K for FED debt
Gov grows 4 Xs faster than economy
Fed spending grows 16 times faster than economy, (16 fold expansion in control & gov dependence)
The US gov now holds 57% share of entire National Income = Government makes more than all the money made in private sector!
How long does the USA honestly think it will last?
Every 15 months, …
Every 15 months, the USA owes another trillion dollars against Gov expenses!
Prop up the bad guys with money!
Reward the mistakes!
Weve increased the Money Supply 70% since October!!!!!
Can you imagine?!
Bernanke refused to show up the other day before congress
Altogether, the worlds markets over the past four weeks saw $11 trillion worth of ets wiped out. This sum corresponds to virtually the entire annual gross national product of the US, or the European Union
Thank you for the …
Thank you for the excellent video!