Yesterday's WARNINGS.....Today's REALITIES
May 02, 2009
– Comments (6)
SOON YOU TOO WILL SEE......A DEPRESSION!!!!!!! Now the only question is how bad????
(MarketWatch) -- In California's Inland Empire, there are neighborhoods filled with vacant homes -- some of them abandoned foreclosure houses and others vacant properties waiting to be rented.
"The question is: Where have all the people gone?" said Chuck Whitehead, a real estate agent in that southeastern area of the state.
From what he can tell, many people are moving back with family -- often their parents -- while they get their finances in order, from the 40-year-old recovering from a foreclosure to the 30-year-old saving up the down payment to help him buy his first home.
But it's not only "boomerang" kids returning to the nest and creating bigger households. On the other end of the age spectrum, some older Americans lost a good deal of their nest eggs due to the fall of the stock market -- funds intended to pay for their everyday expenses or assisted living. Some of them are moving in with family too.
What can result is a household with members who span three generations.
http://www.marketwatch.com/news/story/In-hard-times-generations-triple/story.aspx?guid=%7B8078821E%2DE5F6%2D45CA%2DA756%2D4242C16CDC85%7D
Alstry remembers when he was warning about this liklihood last year......no doubt about it............yesterday's warnings are becoming today's realities.
This will cause greater home vacancies....increasing delinquint property taxes....more neighborhood blight......drving down the values of homes around them......leading to more foreclosures.......driving down values even more..........round and round we go......until we institute policies to end the Toxic Borrower Sydrome and the FU virus......otherwise we are on the fast track to Zombie Nation.....
There has never been an Econonomic Weapon of Mass Destruction like the Zombulator.......soon we may all know what it is like to be Zombulated.
RSS Headlines
Fool UK