I’ve had a few discussions recently with various people about the morality of two of the biggest abuses I see going on in the economy right now… Unemployment Abuse Mortgage Default Abuse The first involves individuals taking extended stays on… Read More ›
shadow inventory
How Many Days Can A Squatter Live Mortgage Free?
A lot. And it’s getting worse. Every time a state or federal government steps in and demands a moratorium on foreclosures, it just makes the process take even longer. As the rate of foreclosures increase, the system falls ever more… Read More ›
Federal Government Reinflates Housing Bubble
Let’s review a dirty little secret where the federal government is making you pay more for a house. On purpose. I call it fraud, but they call it “stimulus.” According to the Irvine Housing Blog last week, there are currently 650 homes officially… Read More ›
Orange County, California-Foreclosure Update
Orange County…the land that brought you Disneyland and the popular TV shows; The Housewives of Orange County, The OC, Laguna Beach and episodes of Beach Patrol and is now a scorched earth land of foreclosures. This is the same Orange… Read More ›
Where’s my foreclosure notice?
People all over America are reporting that they’ve stopped paying their mortgage…and it’s been months…and they haven’t heard anything from the bank. The banks are letting them live in their homes, mortgage free, for months…years. “Eight months after my last… Read More ›
The Continuing Collapse of Housing
The economy and the housing market are conjoined twins. What each does affects the other directly, and immediately. The economy is driving down the housing market, which in turn is driving down the economy. Where will the rabbit hole end?… Read More ›
Home Starts Drop 10.6% and Shock the Unconscious
In a recent L.A. Times article, “SHOCK” at the drop in home starts leads the story. Yawn. Bores me. I am not sure why anyone is shocked, and anyone shocked by a drop in home starts isn’t paying attention. I… Read More ›
Foreclosures Up 23% – “Worst three months of all time.”
Continuing to put downward pressure on home prices are steadily increasing foreclosures, with no end in sight. As unemployment continues and loans continue to recast to higher interest rates, more homes will enter foreclosure further depressing prices. As these prices… Read More ›
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