foreclosures spike in july!!!

"keeps getting more harder"??
What is wrong with CNBC, they can't afford editors? It really makes me doubt a story when the writing is so sloppy.

bad news really doesnt matter when markets are focusing on other things. that is why stocks are not rational and were wrong in OCT 2007 and again in JULY 2008.

Yes, everybody knows that the recent stock rally is discounting that the worst is behind us, armageddon off table, decline in pace of contraction, and other less worse data - so when the data comes it should not be a surprise as the markets have priced that in. But what level of recovery is really priced in? What growth prospects of earnings are really priced in?

Well, when you start to see stocks actually shrug off better news when its released and sell off on good news, just like it has rallied on bad news for much of MARCH/APRIL, then you know the market likely has fully priced it in. Seems like we are not there yet.

I can't believe that you believe that this has any effect on Manhattan, which has no foreclosures and is impervious to the laws of economics, not to mention that it has a limited supply of land.

There may not be foreclosures in Manhattan right now but there are definitely Short Sales taking place, those are good for the market either.

Correction I meant to say 'aren't good for the market'

Steve is Manhattan impervious to the laws of unemployment? Which is the direct cause of foreclosures and not these unorthodox mortgage products and predatory lending practices. Manhattan does have an unlimited supply of air space though.

Does this even matter. I remember looking at foreclosed properties once a few years ago in the NY area and they were in areas that I wouldn't want to live in any way, for a discounted price or not. I.e. slummy parts of South Queens, slummy Bklyn and Dirty Jersey.

on the positive side, each foreclosure means a household that's not enslaved by their house for a decade to come. it's positive in the mid to long term, and if it means that home prices go as low as to be in line with incomes, it's even better.

http://www.dsnews.com/articles/new-foreclosure-numbers-eclipse-recent-optimism-2009-08-12

buy now or be priced out forever