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Foreclosure Prediction

Started by johngalt1945
over 16 years ago
Posts: 98
Member since: Mar 2009
Discussion about
The point of this post is that unfortunately, it seems that we haven't even come close to "bottoming out" yet. With rents continuing to decline, there's little hope in sight for sellers. NYT Op-Ed 7/5/2009 http://www.nytimes.com/2009/07/05/opinion/05sun1.html?_r=1 Unless substantially more relief is forthcoming, Moody’s Economy.com projects that some seven million homes will fall into foreclosure this year and next. Of those, nearly 4.5 million will result in distress sales, prolonging the recession by adding to the downward pull on house prices, home equity and household wealth. And those dire projections may prove too optimistic.
Response by The_President
over 16 years ago
Posts: 2412
Member since: Jun 2009

Barclays just predcited that foreclosures will peak in mid 2010.

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Response by Slope11217
over 16 years ago
Posts: 233
Member since: Nov 2008

Hopefully, several million of those foreclosures will be in NYC.

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Response by The_President
over 16 years ago
Posts: 2412
Member since: Jun 2009

and hopefully, of the millions of renter evictions that will result from it, one of them will be yours.

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Response by The_President
over 16 years ago
Posts: 2412
Member since: Jun 2009

NYC foreclosures down 7%:

http://therealdeal.com/newyork/articles/new-york-city-foreclosures-down-from-the-same-period-last-year-according-to-propertyshark-com

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Response by w67thstreet
over 16 years ago
Posts: 9003
Member since: Dec 2008

El_P, NO FORECLOSURES for YOU!

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Response by Slope11217
over 16 years ago
Posts: 233
Member since: Nov 2008

Hey, The_President--angry, eh. Good luck in life, champ.

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Response by The_President
over 16 years ago
Posts: 2412
Member since: Jun 2009

your the one without a life.... priced out of the market and parying for misery on other so that you can buy your little shit box.

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Response by johngalt1945
over 16 years ago
Posts: 98
Member since: Mar 2009

Can't we keep this cordial? The market is what it is. Praying for declines, stabilization, and yes - even advances will not make it so. This is a simple, practical matter of supply and demand. And right now there is excess supply, and lack of demand for a host of reasons that will not resolve themselves for the next 5 to 10 years.

These are the facts, and praying, cursing, nor hoping will change them.

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Response by tenemental
over 16 years ago
Posts: 1282
Member since: Sep 2007

"The market is what it is. Praying for declines, stabilization, and yes - even advances will not make it so."

Absolutely right. The accusations against people who discuss what's actually happening as though they are bending events with their will have never made sense to me, yet they're a staple of this site.

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Response by columbiacounty
over 16 years ago
Posts: 12708
Member since: Jan 2009

yep...its called shooting the messenger. doesn't work...but i guess it makes some feel better for a bit.

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