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alstry (35.99)

When will you Fools wake up....

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May 13, 2009 – Comments (5)

Banks are cutting off lines of credit

Businesses are shutting down

Millions of people are losing their jobs

Tax Revenues evaporating

and now millions of families getting kicked out of their homes in record numbers.....

One in 374 homes is at risk
Not only are U.S. foreclosures running at a record pace; according to RealtyTrac, bank repossessions are set to spike in coming months.

http://www.marketwatch.com/story/us-foreclosures-reach-record-rate-in-april

We are already running at a record pace....imagine what happens this summer when inventory explodes with additional distressed property....and many of the first time homebuyers have already purchased a home...

Can anyone say crashing home prices as the year goes on???????????

With millions of people losing their jobs and millions of families getting kicked out of their homes....frustrations could really get HOT this summer.

Please prepare.....Don't Fear..........homes will be for sale EVERYWHERE!!!!!!!!!

PS...I know a lot of you Fools get it....the headline is only for those Fools that don't or think they are walking about green shoots.

5 Comments – Post Your Own

#1) On May 13, 2009 at 5:18 PM, alexxlea (48.13) wrote:

House across the street hasn't sold in over a year.

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#2) On May 13, 2009 at 5:23 PM, alstry (35.99) wrote:

In my neighborhood, anything over a million is sitting for a while until prices are slashed a few times......and anything over $4 million is simply not selling.

The joke is property taxes were bumped 10-20% even though prices are falling......people are really getting frustrated.

Quick heads up:  Tommorow we should see a better than expected weekly number of people filing for FIRST TIME unemployment claims.....I expect at least 400K people lost their jobs last week.......but the consensus is for slightly over 600K.....I think the consensus of so called experts may be high.

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#3) On May 13, 2009 at 6:58 PM, motleyanimal (57.47) wrote:

Please let us know when it's time to build the ark.

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#4) On May 13, 2009 at 8:51 PM, alstry (35.99) wrote:

If I thought it was going to flood....I would tell you now.

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#5) On May 18, 2009 at 4:09 PM, ChrisGraley (29.65) wrote:

I didn't understand a word you posted. There was no mention of the discomboblutar comboblatator thingy, and you were missing at least 1000 exclamation points!!!!!!!!!!!!!

 

Are you sick?

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