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HeadSet
2007 Oct 11, 11:18pm
Instead of the negative:
“The US housing bust is like a leaking ship.†and “Home prices expected to dropâ€
They could have been positive and said: "Good news in housing market - savers and responsible borrowers see increasing affordability"
Where is the Love?
http://www.youtube.com/watch?v=6SI-MHhEJxI
I thought was mine o' mine
'til the end of time...
Can anyone summarize the new bankruptcy laws? Or the fraud laws? I have certainly seen my fair share of fraud in my neighborhood. Watching homes pass from owners, to realtors, to undocumented immigrants. With no income documentation they are able to buy $650k homes, cash $30k out of the home in just a few months, buy cars and other toys, then just wander off to the next town.
What I want to know is how much of this can be recovered? Can the system take back the goods, the cash, the bonuses? How much is shielded by bankruptcy? How far can financial recovery go in fraud?
For the Wall Street types, remember when the unethical, biased research was used to pump stock prices? The firms had to pay back billions. Will we get that here? All of that Wall Street leakage on bonuses. How much of that can be recovered.
May as well think about it now - its going to get very, very ugly.
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I noticed that every housing-related article in my rss-feeds today has a negative headline. Negative reports on housing sales, housing starts, home-builders, mortgages, and housing prices. If they aren't predicting further drops, then they are blaming slow retail sales on housing and mortgage problems. In more and more articles, the REIC are being fingered as accomplices to fraud.
Boston Globe: "The US housing bust is like a leaking ship."
Bloomberg: "Retail Sales Slowed as Housing Fell"
Valley Tribune: "Realtor faces trial in alleged scam"
NBC: "Officials Say Mortgage Fraud Is Growing Problem"
AP: "Bear Stearns Predicts Ripple Effect of Real Estate Decline"
Bakersfield Californian: "Realtor Offices Raided By FBI"
Los Angeles Times: "Home prices expected to drop"
:
:
and so on.
When they actually quote from a shill - either a realtor, or a NAR-dummy, or a home-builder - it is invariably with a counterpoint from a more credible source.
Has the MSM has finally clambered on to the bandwagon and left the REIC to fend for itself?
Should Patrick start reporting on articles that are still bullish on housing? Those are becoming harder to find!
SP
#housing