THE FOLLOWING WENT UP OVERNIGHT-NO GRADUAL INCREASES... BREAD WENT UP 30% CANOLA OIL UP 50% PASTA UP 20% I guess ethanol production is now driving up wheat and in turn putting a strain on our food supply.So now we pay high gas and food?Real smart strategy here.Ethanol is a fraud.Only problem now is if we stop using ethanol that will put an increase on demand on already tight gas supply.What a wonderful connundrum ou rpoliticians have led us to. MY GAS WENT UP 10% IN THE LAST WEEK TO ABOUT 3.60$. I can imagine the real damage this is going to do to people on a tight budget with a mortgage,and various loans and credit card debt...Never mind the real estate implosion here in LA.Everything is in foreclosure and banks still wont accept reasonable lo ball offers.The bank was asking 600k our friend offered 560.The bank refused now the bank is asking 545k and ithink they sold it for 525k.This is how dumb banks are and the people that run them.
alot of people are hurting... I cannot believe the increase in food prices. Its truly shocking! Are you speaking directly to the banks for these foreclosures? if so , how do you get their inventory lists?
country wide and indymac have links on their front page. http://www.countrywide.com/purchase/f_reo.asp http://apps.indymacbank.com/individuals/realestate/search.asp http://www.citimortgage.com/Mortgage/Oreo/SearchListing.do
yes,members of our family are in the r.e. business-not me though.But i hear these stories of the banks' complete inflexibility.They dont think prices will drop any further and will turn down all kinds of reasonable offers.This despite that it is impossible now to get a home loan unless you make 100k or something.The inventory is exploding and buyers are vaporizing.In LA you basically need to have 2 yrs of avg gross income to buy a shoebox in a so-so hood.
Thuis article sums up nicely the fact that rate cuts have done virtually nothing to solve the problems in the credit markets so we have inflation and a weak USD all for nothing because of the academic buffoon, or more likely because he was cutting to allow an upward revaluation of balance bank sheets. http://seekingalpha.com/article/66873-fed-rate-cuts-may-have-been-counter-productive?source=wildcard