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Home prices down 30% from their highs. Homeowners and banks are walking away from mortgages.housing bubble existing home sales Copyright MSNBC 2010 youwalkaway.com mortgages foreclosures walk away from mortgage
think you’re probably right; might cost the bank too much to deal with it.
Yup but all of the losses are piling up over at Fraudie, his fat little sister Phoney’s and the FED’s balance sheet which these same americans are on the hook for,
That’s what really sucks. Lose, Lose for Joe Six Pac and Win, Win for the bankers and the prices before this is all over will fall 85-90% from the peak.
AP is reporting–New home sales unexpectedly fell 7.6 percent last month, capping the industry’s weakest year on record.
I’m sorry but I dont think that the housing market is the root of the nations problems. The root of the problems are unchecked corporate greed working with a government, court system and press that has no moral compass. The housing market is just one of the symptoms.
If your in negative equity. Don’t hesitate to walk away from your debt!
Banks and greed caused this problem. I wish everyone would just stop paying. Morgan Stanley did it and its seen as a business decision. But when an individual does it there saying its a moral thing. It looks more like just getting off the merry go round to me.
right; individuals should have the same rights as banks. thanks
great stuff Fal2, always great stuff and on the side of the little guy,
I have realestate, and if any were under water I would let them go back, to hell with the banks, I say that with a certain gusto, my brothers the VP of a bank, I dont talk with him anymore, he proved to me that he was a banker first, and my brother second.
To hell with all of them, and if they come with pitchforks for my brother, oh well.
Oh, and rated 5 stars as always
thank you:)
I sold in the fall and I’m glad I’m out of the market. Renting now and probably will be for several years.
good to hear drutter
diana olick is hot (jmo).
holy damn his wife is hot!
ahhhh
what a wicked web
we have woven..
if you have debt
you did it to yourself ….
enjoy the repercussions…..
Buying a house is NOT and investement. Unless you rent rooms or you rent all of it.
Nontheless, this guy is doing the RIGHT thing. If a deal is not profitable for you, you walk AWAY.
Simple decision when you sit down for 5 mins to make your mind.
yep
“Walk Away.” by the James Gang….
Theme for an Imaginary Western” dream come true.
Walking away is just plain common since. Being in debt is just plain ignorant. I guess if it’s okay for the Government its okay for the rest of us, wrong. I hope this is a wake up call to the Government and lenders. We just can’t take stupidity any longer.
Slip, slidin’ away…
Just a pure business strategic decision as far as I’m concerned. Nothing more, nothing else. Don’t make it more complicated. The banks do it all the time, buiyng a home is a business decision too. You will be buying another home in 5 years with the amount of money you save in walking away. No rocket science here.
It’s part of the dark market that’s always referenced. They haven’t been forclosed on yet. Due to volume as well as when they do, it looks worse on the bottom line. Waiting till all these programs set up to continue the price fix grab hold. Then people will get the boot. There’s still a buttload to hash out in that regard. Rather than making it have to come to light right from the get. And get this crap over with.
250K$ times 1 million defaults =250 billion dollars.
small change in these times of the Greatest Heist in the History of Capital.
I mean, that’s just 0.25 Trillion US$ out of about 15 T printed out of nothing to transfer wealth to the super-rich.
I can hear songs of revolution all the way to Israel…:)
sitting in the rain soaked dark of night beneath an over pass,praying noone notices yet wishing for attention, contact and food. I was younger then and never dreamed our country would follow in my footsteps. Yet here we are on the precipice of calamity within a disaster built upon dreams and finished with greed. Prepare as you never have before, buy your food now , before hyper inflation hits.
sad and eloquent