Foreclosure Numbers Going In Wrong Direction: Getting Much, Much Worse

You're pretty much clueless.

There will be another 2.3 to 2.5 million foreclosures by the end of 2009.

For every one house listed as a bank REO now, there is another house entering (beginning foreclosure, already in foreclosure but not listed) foreclosure or another house 90 days or more delinquent in terms of the underlying mortgage.

Like I said, there will be another literal tsunami of foreclosures.

Now, commercial property mortgage foreclosures are set to double every 6-9 months for the next three years, at the very least.
 
Quote from loza:

job security, divorce who cares? Some of these homes being foreclosed NOW were purchased 2-3 years ago...or you are saying that according to that article people who are buying today are turning around and being foreclosed on?
That may come in the future but the article is talking about houses bought right now! Some of these will pen out some will not, what do you care?
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What do I care? Not much. You seem to think in rather flippant, one-dimensional terms.

Had the FED not stepped-in and gifted 7 Trillion, you'd be in far worse shape.

That doesn't mean we're out of the woods. We could see a douple-dip. Perhaps not "always" is the best time to buy?
 
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