Massive Defaults Coming in Real Estate – 30% – 50% Reductions
April 3, 2010 by Editor
Filed under Real Estate Basics
inflation.us After doing research on Loan Modification Default Rates and Shadow Inventory Rates i am in shock. This is very serious people. I feel very bad for all the responsible people who have been paying on their loans like clockwork hoping to use equity to subsidize their retirement. Can anyone say “poof” Links www.mgic.com mhanson.com
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To get a loan, you must have a lot of equity in the home with 20% to 40% down tied to PERFECT credit !
This is proof that the banks fear that Real Estate isn’t a good investment & has yet to stabilize. Basically, they aren’t lending because they themselves feel that Real Estate has further to drop.
I can see by some of the posts here that people are scared – and they should be.
RealEstate prices have no where do go but way down, how far no one really knows, but it won’t matter because (more importantly then some over priced shack) the country will cease functioning.
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the real estate call center in san antonio 210-286-9289 sees a drop in house prices
George is right on with this information. The decline is gradual and incremental. The dollar value collapse doesn’t happen from one day to the next its gradual and if you cant already see the process sorry guys you are blind. Without people having jobs there is NO real estate market. Right now if you loose your job odds are you wont find a job. There are literaly 7 people unemployed for every one job that is open to fill.
You are an idiot. You said we will have RE armeggedon last fall and the winter. The opposite happened. Nobody should listen to this fool.
Interesting information. True the real estate market is a mess now. but this has already been happening for the past couple of years.
So you are a Real Estate expert now ?
You went from telling everyone that the dollar woul;d collapse and society would implode…….to now real estate expertise ?
Why do you people listen to this clown ?
50% drop in values, thats huge..
if it happens next year wea re all in trouble
This is why the Rental and Rent to Own Market is Booming. Take advantage of it. Check me out and find out why
Got some spam from a Realtor telling me it is a great time to buy. My response was only if you are debt free, have 20% to put down, and realize that Realtors do not have your best interest in mind. Realtor told me not to contact him anymore. I said fine. Please stop spamming me. LOL.
Yep ! the option arm loans are going to reset in 2010 the next wave of foreclosures “God help us all.”
Is that a good or a bad thing? I really don’t understand what you are trying to say.
george is a fed–check out how many vids he has watched–his computer is on a mainframe
Right on George.
We ain’t seen anything yet, but I agree with you about defaults on a biblical scale.
Real Estate should never have become speculative . . . this is truelly apocolyptic.
No body is buying home in AZ
alot of ppl leave az
those new house for illegal immigrant are all empty
even if they stay here they cant even afford their food how can they pay for their rent
Amen
Kansas City Missouri is also high in foreclosures, jobs are almost non exsistent for the common workers that pays enough to live on,, this country is in deep trouble – I knew this would happen back in 2005 !
America turned into a communist /socialist state through the banking system. Well done America land of the kept. To big to fail. when the life style starts to fade, with all those guns theirs going to be rivers of blood.
I don’t think it will collapse much more. The banks will just hold inventory back to control the market.
Amen to strategic defaulting! Cheers!
You are right crises is not over. But wise investor can make money in any industry. More difficult market is more money opportunities there.
I live in an apartment being forclosed on by some one in California. I live in Idaho, the forclosures that happen over there hurt us here as well.
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