12debt.html?_r=1&ref=business EDITOR’S NOTE: It is ironic how reality eventually catches up with illusion. While we have been pounding on the issue of principal reduction as the only realistic way out of the recession, and while the financial industry has been busy convincing people that principal reduction is somehow immoral, the contraction of home prices back [...]
GET IT STARTED! FROM JL SEMIDEY 2010/08/03 at 8:22 pm the funny thing is that they are stealing our homes, breaking families, they have created the deepest and most expensive recession ever. They have caused suicides, drug addiction, crime, family violence, they have forged documents, they have abused and violated our privacy, they have taken [...]
EDITOR’S NOTE: It wasn’t so long ago that I had to practically pulled teeth to get her attorneys to agree with the proposition that nearly all of the foreclosures were fake. Matt Wiedner seems to have his finger on the pulse of what is really happening. I think the most important feature of this article [...]
64868?RS_show_page=0 EDITOR’S NOTE: How refreshing to see someone who approached this not with caution but with a desire for truth. Read this and you will understand a lot more about the Great Recession. “The “Pig in the Poke” scam is another key to the entire bailout era. After the crash of the housing bubble — [...]
WHAT IS ABOUT TO HAPPEN: The appointment of the head of the Bureau of Consumer Financial Protection recently created by the new federal legislation on financial reform. Elizabeth Warren and Mary Schapiro essentially defined the job. Ms. Schapiro is already head of the SEC and is vigorously investigating and prosecuting the mortgage fraud business across [...]
I like MidFirst Bank out of Oklahoma. In fact, I like most Community Banks and most Community Bankers. They provide personal banking for solid people who are not particularly huge customers. And, I know there is a rivalry, I kind of like Credit Unions too, although they tend to lag behind in technology. The reason [...]
without raising taxes one cent, many states could recover much or all of their deficit and perhaps some states could be looking at a surplus.
The money is sitting on Wall Street waiting to be claimed through existing tax laws, regulatory fees, and even damage claims much like the Tobacco litigation.
Editor’s [...]
Jobs in Washington D.C. are growing quickly, and in 2008 the city produced more in goods and services than almost anywhere in the country.
Washington DC – Weather – Recession – United States – Washington
Foreclosures now are just ‘tip of the iceberg’
March 1st, 2010, 7:36 am · 108 Comments · posted by Marilyn Kalfus, real estate reporter
Despite some reports that suggest the housing crisis may be hitting bottom, foreclosures so far represent the “tip of the iceberg,” real estate analyst, investor and lender Bruce Norris says.
Norris told hundreds of investors attending [...]
Editor’s Comment: It’s too late to cure the problem entirely. We can’t unbreak the glass and we’ll never be done cleaning up the mess. But we can start somewhere. It is obvious to all economists of every persuasion that this is a recession of a different kind than anything else we have experienced. That’s because [...]
For thousands of low-income renters nationwide — but especially in rural towns and small cities — the recession is hitting home in an unexpected way.
I have a lot of conversations with people about our economy, foreclosures and such… from clients to friends in business to attorneys. Everyone who’s asked me what I foresee coming I’ve told them that 2010 will be a very tough year and they better prepare now. We aren’t done yet folks… and the policies of the Obama Administration and our collective disaster we call Congress, are going to make things even worse – and very well will extend the recession quite painfully. I have told people to expect another wave of foreclosures. As long as you have no job creation and more job loss happening every day, this cycle won’t stop. It’s as simple as that.
With the recession throwing thousands of people out of work daily, more than 13 percent of American homeowners with a mortgage have fallen behind on their payments or are in foreclosure.
” The collapse in commercial real estate is preventing Federal Reserve Chairman Ben S. Bernanke from declaring the economy and financial markets are healed.”
“For the Elkhart Project, which is entering its fifth month, MSNBC.com assigns one staff member to Elkhart, Ind., at almost all times to ensure a regular output of blog posts, slide shows, videos and Twitter messages. In Elkhart, readers and viewers see the effects of job losses, foreclosures and stimulus money projects — what MSNBC.com calls “stories of struggle and recovery in America.””
Enter your email address below to receive updates each time we publish new content.
Recent Comments