A screaming comes across the sky

[nitro]

"One-quarter of Chicago mortgages underwater, report shows"

http://news.yahoo.com/blogs/chicago...er-report-shows-181615208.html?bouchon=602,il

People ask why the US market is so sensitive to what goes on in Europe and overseas in general. Well, if the above statistic is some sort of national average, this country is in dire straights for years to come - more and more people in the US are in grave danger of spiraling into poverty since they can't get out of the weight that is their house. So corporate profits will have to come outside the US.

 

[RCG Trader]

Quote from nitro:

"One-quarter of Chicago mortgages underwater, report shows"

http://news.yahoo.com/blogs/chicago...er-report-shows-181615208.html?bouchon=602,il

People ask why the US market is so sensitive to what goes on in Europe and overseas in general. Well, if the above statistic is some sort of national average, this country is in dire straights for years to come - more and more people in the US are in grave danger of spiraling into poverty since they can't get out of the weight that is their house. So corporate profits will have to come outside the US.

Only 25%? I am surprised , actually. In Atlanta, where my parents live, there are entire neighborhoods that are empty.

 

[DT-waw]

there are at least 3x more homes than people are able to occupy in every western country.

impact on prices? strongly to the downside.
people who bought with mortgages lost their lifes.

first, the prices were few times overpriced due to buying with borrowed money.
second, there is massive deflationary force in the form of much bigger supply vs demand.

the masses should go bankrupt and starve , only this way they can wake up...

 

[Chicago_CTA]

LOL

Thanks for bringing me back to a THomas Pynchon moment. Gravity's Rainbow was not my favorite book, however.

Only Dr. Ron Paul will be able to turn this mess around...and a dem/repub congress will fight him every step of the way.

 

[piezoe]

"Insanity is to keep doing the same thing and expect different results." -- A. Einstein

Perhaps lowering taxes and increasing expenditures is not creating a strong enough "trickle".

 

[GTS]

Quote from nitro:

"One-quarter of Chicago mortgages underwater, report shows"

http://news.yahoo.com/blogs/chicago...er-report-shows-181615208.html?bouchon=602,il

I hope you realize that doesn't mean that one quarter of Chicago homeowners are underwater....e.g. not everyone who has a home has a mortgage.

 

[Mercor]

The Government has tried to slow down the number of foreclosures. They need to expedite them quicker to bring the percentages down.