Foreclosure Activity Decreases 10 Percent in January

Foreclosure Activity Decreases 10 Percent in January

www.realtytrac.com

Foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 274,399 U.S. properties during the month, a 10 percent decrease from the previous month but still up 18 percent from January 2008, according to the RealtyTrac U.S. Foreclosure Market Report. The report also shows one in every 466 U.S. housing units received a foreclosure filing in January.

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[edit on 2/28/2009 by semperfortis]

I am sure everyone knows how I feel about the bailout/stimulus.

If not, I personally think it is the largest bank robbery in history, and it is being executed openly, in front of large audience and backed by the Government.

To me, the numbers just don't add up.

So, I thought I would do a little checking for foreclosure rates.

This is the most recent I could find.
www.realtytrac.com...

The worst states, by the way, I am picking the WORST counties in the worst States.

Neveda 1 out of 63 housing units
California 1 out of 58 housing units
Arizona 1 out of 132 housing units
Florida 1 out of 80
Oregon 1 out of 158 housing units
Illinois 1 out of 148
Michigan 1 out of 249
Georgia 1 out of 144

These are the WORST counties in the worst states... I could not find an average for the whole state.

I am hoping that somebody knows where the current rates are kept.
I am also hoping that somebody can explain to me what is wrong with these charts

What am I missing PLEASE???

The worst county in the US 1 out of 58, or 1.724%

Has anyone ever looked at their mortgage payment? How much goes to principal? Even if we too the worst case senerio, the banks would have to eat a 1.724% loss.

The text abover shows 274,399 foreclosures in the US. Out of 75,000,000 active mortages, that is less than .003 %

Hawaii is ranked 30th with the worst counties being 1 out of 832. Which means there are 20 states that are much better than Hawaii.

So clearly the 1.724% is obscenely high.

This is not counting the monies they would receive from the homes they sell. So lets assume the banks sold the properties at 50cents on the dollar, their loss is less than one percent.

Somebody has some splaing to do.


www.realtytrac.com
(visit the link for the full news article)

[edit on 2/28/2009 by semperfortis]

I think it is a lot larger than just people foreclosure. I think the real problem is what they aren't telling us. Which is the derivatives market.

All the sub-primes and ARM's they split up and sold 20 times over. That has a cost of somewhere around 50 trillion dollars. If they were to let that out over the MSM then everything would collapse instantly. Instead they just keep it in the back and not out front. They have mentioned it but they haven't contributed the problem to it.

Of course this is also government accounting, if you can figure that out then you should win the Nobel Peace Prize.

reply to post by Hastobemoretolife
Yeah I think the way I heard it was..."The sum is greater than the parts"

1+1=5

reply to post by Hastobemoretolife

Of course this is also government accounting, if you can figure that out then you should win the Nobel Peace Prize.

Einstein wouldn't even be able to make any sense of that.

There is too much damage that is yet to come.

The commercial real estate bubble...the credit card bubble..

We are in for some unbelievable pain.

Even with that coming...the spending is through the roof.

I just don't understand how the government can think this crap is sustainable. They won't stop and don't even seem to care of the consequences.

reply to post by WideBody


I can attest to both Vegas and Reno. Vegas had the largest growth in the nation for years. Homes built everywhere then high-rise, high-priced condos, and all of it was low interest, no interest, or subprime in general. Reno did the same thing. We also have a payday loan problem, adding to that, our entire economy is based on people having disposable income. No one can afford to come to Vegas or Reno. We have casinos #ting down, our homeless population is rising very fast, we're even laying off police and firefighter positions and instituting hiring freezes for pretty much all law enforcement. Education is being cut severely. Higher education is being cut at 45%, yeah, Nevada is screwed.

Edit to add:

Reno and Las Vegas both have numerous strip malls empty and some have been that way for a while. The Parklane Mall in Reno is no more, and the Boulevard Mall in Las Vegas, Nevada's largest, is being closed down as well.

[edit on 27-2-2009 by projectvxn]

reply to post by Hx3_1963



Depends on what the agenda is of the day, if it is unemployment then 1 + 1 = .25 if you need to rob us of all our wealth then it is like you said.

reply to post by David9176


I just don't see how it is even going to hold out before they can implement everything they want too. I just don't see it.

When you have physicist formulating accounting schemes things are seriously wrong, but truth will always when out.

A saying I like to live by is:

"Bull# will get you to the top, but it won't keep you there."

reply to post by Hastobemoretolife

When you have physicist formulating accounting schemes things are seriously wrong, but truth will always when out.

I also notice that the predictions we get for the economy that are reported in the AP are always better than the actual outcome.

They are purposely optimistic...which i guess is a good thing...but the public isn't buying it

They see the debt staring us in the face..and those that are still working right now have quit spending money like they used to and started to pay off debts and save money...as they should.

This is a natural thing that has to happen for the economy to recover...it's too bad the government keeps trying to fix it...which is only going to make it far worse.

I used to think FDR was a great President..but looking back at what he did at the time of the Great Depression...he may have actually made it worse.

The difference then? We exported more than imported. We weren't deeply indebted either.

This administration seems to think we are back in the 30's.

reply to post by David9176


Yep, there are always boom and bust cycles. But what has happened through manipulation over decades is it is like riding a motorcycle or bicycle. The front end starts to wobble a little bit and you get control and straighten it back out. But each time it does it gets worse, till eventually it starts off small and just gains momentum and the front end is going wobbling to the extreme and then you crash.

The New Deal policies actually created the depression, the other thing that was different is that the country wasn't fully developed so building railroad track all the way across the country and roads, actually would have helped because it made shipping products cheaper and extended the reach of companies.

Unemployment during the depression never dropped below the levels it was at when FDR took office. I used to think the same thing but then reading up on it, breaking away from my pubic indoctrination, you find the truth.