Foreclosure rates surge. Tailspin.

Discussion in 'Economy' started by Neubarth, Apr 14, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    Foreclosure rates surge, biggest jump in 5 years
    AP
    Foreclosure rates surge, biggest jump in 5 years - Yahoo! News

    By ALEX VEIGA, AP Real Estate Writer Alex Veiga, Ap Real Estate Writer – 12 mins ago

    LOS ANGELES – A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.

    RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago. In addition, households facing foreclosure grew 16 percent in the same period and 7 percent from the last three months of 2009.
     
  2. Baruch Menachem
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    Baruch Menachem '

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    Foreclosures have been on hold for several months. This is just a huge jump in the process, but not a huge jump in the trend. All the foreclosures that were on hold just got dumped into one month.
     
  3. Neubarth
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    Neubarth At the Ballpark July 30th

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    The economic collapse continues. They are talking about one MILLION repossessions this year. Unbelievable!

    Unemployment is soaring out of control and somehow people keep talking about RECOVERY. Where is the recovery?

    INTC soared today. They just posted their second quarter of decreasing income, and all the stock brokers lined up to praise INTC. Since when are decreasing earnings an indication of improvement? Just how gullible are people.

    Why are there so many sheeple?
     
  4. JenyEliza
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    JenyEliza Princess of Rhetoric

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    There is NO recovery.

    Obama isn't worried about JOBS or all the people who don't have one, can't find one.

    He's worried about the welfare mamas and others who don't work, don't want to. He wants to make sure they keep getting their food stamps and he wants to give them FREE medical too.

    He's trying to turn the unemployed who DO WANT TO WORK into people who don't want to work, so they'll be attached to the gov't teat. He figures that's the best way to attract new votes.

    What a dork.

    He's destroying this country.

    Former homeowners are now renters, they're not paying property taxes anymore.

    Many of those former homeowners are also former hard working Americans who now collect unemployment and try to keep their families afloat that way, because there aren't jobs. They'f fallen several rungs down the ladder they've been climbing towards financial success.

    Many are at the bottom, they've lost years, even decades of hard work--homes, jobs, 401(k), etc.....essentially, they're starting all over again.

    Obama doesn't give a shit. This is a RECOVERY.....according to the Great Barry Soetoro.

    What a dumbfucker. :rolleyes:
     
  5. Neubarth
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    Neubarth At the Ballpark July 30th

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    Other than a massive increase in taxes of all sorts and a hint at a 20 percent value added tax, Obama has not accomplished much other than to ensure some medical care for the poor at the expense of the middle class and the rich.

    If he had clamped down on the corrupt bankers running almost everything in this country, I would have been a fan, but he jumped into bed with them as soon as he finished his inaugural speech. So much for Change that we could believe in.

    The voters were lied to by the Chicago syndicate, tricked into voting for Obama and then robbed.
     
  6. JenyEliza
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    JenyEliza Princess of Rhetoric

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    Don't blame ME, Neubarth.

    I am a voter, but I didn't vote for him.

    I was NEVER tricked by him or his Chicago Mafia.

    I got a nice little letter from Mr. Soetoro in the mail offering to send me to school on the taxpayer's dime...and...he'd let me collect unemployment too.

    THIS is a bandaid on a hemorrhage (sp?). Barry is clueless. He put free healthcare for the poor ahead of JOBS for those of us who need to work to support our families. Unemployment and classes don't get it done.

    Yes, it would be lovely if the whole world could fix their boo-boos, or whatever ails them, for free.

    There ain't no free lunch. We know it.

    Put people back to work with REAL jobs, not the BS "shovel-ready" jobs you see fancy (ie, expensive) signs on the roads boasting these projects are for the recovery (and no workers ever in sight).

    Barry's just wasting what few tax dollars will come in today.

    April 15. Tax Day. A whole LOT of Americans are taking the EITC today.

    The tax year before, they were hard working-wage earning-tax PAYING Americans.

    Not anymore. Not in Barry's America.

    Give me a good solid job and a good solid paycheck.....I'll take that any day, and I'll pay for my healthcare and keep Unca Sam out of it.

    The unemployment rate in my state today (it was just announced) is well over 10%. The national average is 9.7%. This state has almost always been recession proof. I've lived here since 1968 and the only time I can remember our job situation being this bad is during the early '80's under the Carter Presidency (not his Governancy, but that wasn't too cool either).

    Georgia's unemployment rate rises to record 10.6 percent in March | The Biz Beat
     
  7. Charles Stucker
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    Charles Stucker Senior Member

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    Actually they are paying property taxes; every time property taxes go up, rent follows at the same rate.

    Obama is desperately trying to convince anyone who still has a job that things are getting better. It is working with the blindly loyal Democratic followers, but it seems those who are in the middle are more open to the failure of Obama's policies. Unfortunately the press is fairly riddled with dyed in the wool socialist supporters who actually believe that more government is the answer rather than the problem. Those elements within the press will certainly try to play up any sign they can interpret to be an economic revival around election time.
     
  8. Old Rocks
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    Old Rocks Diamond Member

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    President Obama has had a bit over one year to correct the policies created this economic debacle. We damned near had the Second Great Republican Depression. Now the efforts are starting to pay off. There are still a lot of laundry that is going to have to be cleaned, and it will be painful. But, as the President has repeatedly warned, we did not get here overnight, and we will not get out of this hole overnight, either.

    From where I am at, I am seeing more orders for the steel at our plant, more for the grades used in construction. We are now working overtime on occasion, and are weighing putting another crew on. And we have had a good and profitable first quarter.
     
  9. Old Rocks
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    Old Rocks Diamond Member

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    LOL. As in the Conservatives greatest fears are being realized as the economy is turning the corner.

    You Conservatives had eight years to demonstrate how well your policies would work. And all you gave us was incompetance and total failure in every sphere.
     
  10. JenyEliza
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    JenyEliza Princess of Rhetoric

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    Old Rocks believes in the Tooth Fairy, the Easter Bunny and Santa Claus too. :rofl:
     

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