Top 10 Foreclosure States

Apartment occupancy rates are falling

Many people paying rent that did not fall for the "price of houses always goes up" line are now buying the homes many are walking away from. I understand that if you make it known at a small bank you are looking for a home, you will find one cheap, and lately payments are less than rent at the apartment complex...

This comes as a big surprise to the companies who own the apartments as they were looking to raise rents when demand from the people dumping their homes look for a place to live....

Hang on folks, this ride is just getting warmed up.... Real estate is going to tank big time in Q3 and 4, and not likely to recover for years...

When a recession is really a depression

Hi Cousins, sadly no good news to report from the US or the UK end of the atlantic. You guys have the flu and our sniffles are fast developing into a cold, with bronchitis to follow. Pneumonia seems inevitable for both as repossessions, major bank failures, inflation increase. The bottom line is that the West cannot compete with chineese or indian unit labour cost and our addiction to electrical gizmos all made in the far east. Both governments keep re-assuring us that all is well while protecting the magnates at the expence of Mr & Mrs average Tax payer. The only thing that has any hope of saving everyones backsides from disaster is selling our shirts and souls to foreign investors. What could epitomise true globalisation than that? Well you know the old addage, if you cant beat them join them, so my proposal from wherever you are sitting is to sell while you can and while money has any value at all, and consider buying in a country where your bucks go a long way. I can see many around the world where their favourable currency exchange rate is strong against the dollar and £££ bargain hunting property in the US. But no one with any sense is going to catch a falling knife for the forseeable future, so we all have to wait till the bottom is something you can see, not guess. Its just an opinion and I'm no financial guru, but I havent been wrong so far since October 2007 with my predictions. I'm open to suggestions. Polite ones please.

Reality check

While 1 in 139 homes in foreclosure is surely very high compared to historical levels, we’re still only talking about 0.7% of the homes. Calling this a “foreclosure crisis” maybe exaggerates a little, then – it makes it sound like one of every ten (that would be 10%) of homes are in foreclosure. Not so – not even close. So even while foreclosure rates have increased 200% in some areas, the numbers are still low in absolute terms.

I don’t mean to sound callous – of course, I empathize deeply with the families who are losing their homes to foreclosure. I’m simply trying to do a reality check here, and suggest that the foreclosure “crisis” may not be as big and scary as it often seems.

A full blog post on this topic is available at www.MyPhoenixMLSBlog.com.

good ol Yankees

It appears that the Yankees of New England (NOT the baseball team) know how to weather the storm. Except for Mass, we werent on the list. Its in our blood, how to conserve, conserve, conserve. I can make 5 meals from a 3 pound chicken. Many of us still have our little backyard gardens because we refuse to pay $4.00 a pound for tomatoes. Houses?????? Most of us stay within our means, even if the only home we can afford is a little 2 bedroom cape. If we have to, well work 3 jobs to pay the bills. If it werent for coupons, my children could never have gotten the extras parents like to give their kids. Yankee advise? Tighten those belts, dont waste your money, conserve energy, eat at home, and never loose the roof over your head.

finance.

Its amazing how a person can walk away from there home and make there car payment and credit card payment ontime. Consumers arent the brightest bunch. My neighbor and his wife both refinanced there home and used the money to buy 2 new cars and take trips after they bought a bunch of stuff for there house. They recently had a yard sale and sold this stuff they bought with borrowed money and are being forclosed on. But, they are making there credit card payments and car payments ontime. Why would anyone borrow money against there house to put money down on a car and then buy furniture with the borrowed money to sell it before they even payed for it because they cant make there house payment and its too much furniture for there future efficiency apartment. What numbskulls! I boughtmy home 3 months before them.I got a 30 year fixed when I bought my place just as they did. in 2006 they refinanced and now they are bothing facing forclosure and bad credit. I drive a car thats payed for and pay cash for most things. I dont believe there should be any type of government sponsored assitance for folks like these. They bothed worked and I live alone. People like these mentioned above represent the many and they dont deserve help.They need counseling