Must be Bush and GOP's fault--More Americans losing homes
... to foreclosures
from 
JoeUser Forums
JoeUser Forums
Blunting the sure to be idiotic posting(s) that will come from the Bush bashers that will be trumpeting the (good for them, but) bad (for everyone else) news:
More Americans are losing their homes to foreclosures. There's been an "alarming" (main stream media's choice of words, not mine) increase in the number of foreclosures recently as the risky loans that some people were signing up for are catching up to them and people are finding that they can't afford the homes they were buying.
Perhaps this is more a sign that people that were speculating in the real estate market are finding their bets called in the tradition of the stock market option calls, and not really a sign that the Bush administration and the GOP in general are responsible for more people losing than the homes, but that won't stop many of the bashers from trying to say otherwise. They've already pointed at apparent control of the weather and natural disasters by Bush and the neocons as reasons for the loss of so many homes and so much devestation in New Orleans, the rest of Louisiana, Mississippi, Texas and elsewhere, and they are certain that Bush hates black people and is to fault for it all -- every bad thing that could possibly be imagined, so why let the truth get in the way over this issue?
While I do feel sorry for people that are caught up in the housing market that does seem to finally be coming back down to earth, much like the stock market of the late 1990s, trumpeted so gloriously by some moronic individuals that believe that all things Clintonian were so fine and good for everyone, things got way ahead of themselves. Just as the over-blown stock market saw it's bubble not just burst, but blown away leaving a big wake of destruction behind, the housing market seems to be following the trend. People speculated, gambled, and some were burnt badly.
There are many innocent people that were hurt along the way, including employees of companies that saw the value of their employees disappear almost over night, and now there are innocent home owners that are seeing the markets for the properties they are holding vaporizing too. But along with those innocent home owners are a bunch of speculators, gamblers if you will, that had jumped out of the stock market over to the sure thing: the real estate game.
There in is the real problem for all. The people that treat the pursuit of wealth as a game. Rather than looking at housing as a necessity, many considered it a game where the object was to constantly keep upgrading and getting bigger and better. A constant contest to get something better than the neighbors had, to get more money for the sales of their properties than their neighbors did, and then turn that money over to get an even bigger home or property that would also be flipped within a short period of time.
Somewhere, somehow, and sometime, people will learn that there is no easy way to free money. Slow and steady almost always wins the race. Those that cut corners and look for shortcuts generally find their money gone before they really get to spend it, and that is now happening to many in the real estate market. Sadly, it will, as with the stock market before, take down many innocents along the way. Hopefully those folks will find that the experience of the newly reformed bankruptcy laws isn't too tough an experience.
Original article snippet follows. Please click on headline to see original materials to read entire original materials.
More Americans are losing their homes
Risky borrowing is catching up with a number of homeowners across the U.S. Foreclosures rose 45% in January compared to a year ago, and experts only expect the pace to accelerate.
By Melinda Fulmer
The number of homes entering some stage of foreclosure -- from notice of default to bank ownership -- increased 45% in January from the same period a year earlier, according to Irvine, Calif.-based RealtyTrac. That was one new foreclosure for every 1,117 U.S. households.
The number of foreclosures is still low on a historical basis, but it has been rising steadily over the past year, RealtyTrac reported. Job losses in some regions were to blame, but so, too, were risky borrowing practices that left homeowners little wiggle room on their mortgage payments. And with the pace of appreciation stalling and interest rates rising, many economists and industry observers expect the pace of foreclosures to accelerate this year.
... more at linked article
More Americans are losing their homes to foreclosures. There's been an "alarming" (main stream media's choice of words, not mine) increase in the number of foreclosures recently as the risky loans that some people were signing up for are catching up to them and people are finding that they can't afford the homes they were buying.
Perhaps this is more a sign that people that were speculating in the real estate market are finding their bets called in the tradition of the stock market option calls, and not really a sign that the Bush administration and the GOP in general are responsible for more people losing than the homes, but that won't stop many of the bashers from trying to say otherwise. They've already pointed at apparent control of the weather and natural disasters by Bush and the neocons as reasons for the loss of so many homes and so much devestation in New Orleans, the rest of Louisiana, Mississippi, Texas and elsewhere, and they are certain that Bush hates black people and is to fault for it all -- every bad thing that could possibly be imagined, so why let the truth get in the way over this issue?
While I do feel sorry for people that are caught up in the housing market that does seem to finally be coming back down to earth, much like the stock market of the late 1990s, trumpeted so gloriously by some moronic individuals that believe that all things Clintonian were so fine and good for everyone, things got way ahead of themselves. Just as the over-blown stock market saw it's bubble not just burst, but blown away leaving a big wake of destruction behind, the housing market seems to be following the trend. People speculated, gambled, and some were burnt badly.
There are many innocent people that were hurt along the way, including employees of companies that saw the value of their employees disappear almost over night, and now there are innocent home owners that are seeing the markets for the properties they are holding vaporizing too. But along with those innocent home owners are a bunch of speculators, gamblers if you will, that had jumped out of the stock market over to the sure thing: the real estate game.
There in is the real problem for all. The people that treat the pursuit of wealth as a game. Rather than looking at housing as a necessity, many considered it a game where the object was to constantly keep upgrading and getting bigger and better. A constant contest to get something better than the neighbors had, to get more money for the sales of their properties than their neighbors did, and then turn that money over to get an even bigger home or property that would also be flipped within a short period of time.
Somewhere, somehow, and sometime, people will learn that there is no easy way to free money. Slow and steady almost always wins the race. Those that cut corners and look for shortcuts generally find their money gone before they really get to spend it, and that is now happening to many in the real estate market. Sadly, it will, as with the stock market before, take down many innocents along the way. Hopefully those folks will find that the experience of the newly reformed bankruptcy laws isn't too tough an experience.
Original article snippet follows. Please click on headline to see original materials to read entire original materials.
More Americans are losing their homes
Risky borrowing is catching up with a number of homeowners across the U.S. Foreclosures rose 45% in January compared to a year ago, and experts only expect the pace to accelerate.
By Melinda Fulmer
The number of homes entering some stage of foreclosure -- from notice of default to bank ownership -- increased 45% in January from the same period a year earlier, according to Irvine, Calif.-based RealtyTrac. That was one new foreclosure for every 1,117 U.S. households.
The number of foreclosures is still low on a historical basis, but it has been rising steadily over the past year, RealtyTrac reported. Job losses in some regions were to blame, but so, too, were risky borrowing practices that left homeowners little wiggle room on their mortgage payments. And with the pace of appreciation stalling and interest rates rising, many economists and industry observers expect the pace of foreclosures to accelerate this year.
... more at linked article
