The US foreclosure ticker

Discussion in 'Economics' started by ASusilovic, Jun 2, 2009.

  1. Sounds a bit 2008, for sure, but the numbers still have the ability to shock.

    According to the Center for Responsible Lending in the US, the number of home foreclosures so far in 2009 has just topped 1m.

    The lobby group even has a handy ticker, so you can watch the tally rise in real time:


    The current rate of growth is 6,600 homes a day, or one every 13 seconds. But, as 24/7 Wall St points out, we’re only just getting going here.

    The CRL reckons foreclosures will hit 2.4m by the end of the year, while by 2012 the ticker figure will have grown to a total of at least 9m.

    The full bill in terms of house value destruction? $1,900bn, the CRL says.

    V Recovery ...LOL ! :D :D :D
  2. You've got your sights set on a New York City brownstone with some of your 2009 bonus? :)
  3. Nazz,

    I abandoned the idea after NYC state authorties gave me such a hard time ! Forget it ! I just say the following words :

    investor UNFRIENDLY environment ! :mad:

    Instead, I will do what all other pundits are doing : bet on huge inflation surge. Seems "en vogue"...
  4. 9 million foreclosed homes by 2013.

    That's hard to imagine.

    I was blue, just as blue as I could be
    Evry day was a cloudy day for me
    Then good luck came a-knocking at my door
    Skies were gray but theyre not gray anymore

    Blue skies
    Smiling at me
    Nothing but blue skies
    Do I see

    Singing a song
    Nothing but bluebirds
    All day long

    Never saw the sun shining so bright
    Never saw things going so right
    Noticing the days hurrying by
    When youre in love, my how they fly

    Blue days
    All of them gone
    Nothing but blue skies
    From now on

    I should care if the wind blows east or west
    I should fret if the worst looks like the best
    I should mind if they say it cant be true
    I should smile, thats exactly what I do

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  5. wave


    Unless you don't care about paying too much for something, I don't see why anyone would plunk down a downpayment on a house right now. You put down 20-30% down payment in 2009 only to see the equity in the home you just "invested" in drop 20-30% by 2011.
    Home prices are still way too high.

    By 2011 rates will be back above 7%, home prices will have reverted back to 2000-2001 levels. The investors will start making their moves and the fed will start reducing interest rates again and a new boom cycle will start to emerge.
  6. And the Dow at 20,000. Now that's hard to imagine.