Foreclosure rate hits all time high under Obama

[redrumloa]

http://news.yahoo.com/s/ap/20100415/ap_ ... sure_rates

RealtyTrac Inc. said Thursday that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago. In addition, households facing foreclosure grew 16 percent in the same period and 7 percent from the last three months of 2009.

More homes were taken over by banks and scheduled for a foreclosure sale than in any quarter going back to at least January 2005, when RealtyTrac began reporting the data, the firm said.

"We're right now on pace to see more than 1 million bank repossessions this year," said Rick Sharga, a RealtyTrac senior vice president.

We have none of the promised hope, but we sure got change(for the worse).

 

[FluffyMcDeath]

We have none of the promised hope, but we sure got change(for the worse).

When you fall off a cliff it takes a while to change direction.

However, I have seen massive changes in the US. Obviously fixing the financial disaster and the debt problem means nationalizing the Federal Reserve and no president could hope to survive that.

On the other hand it's good to see that nice icy chill that set in with Israel for a while.
There seems to be a better basis for decision making coming into several departments too that are more along the lines of "what's the evidence?" rather than "what does the Old Testament say?".

The Health Care bill is an interesting monster too. It seems to be set up to encourage the insurers to cheat and gouge and that would be a crisis that would open the gates for consumer protection bills controlling insurers and diminishing their political power.

The FDA seems to be looking at Triclosan again and several other issues concerning "things that should never have been allowed" and that speaks volumes about whose been getting hired and whose been getting retired.

There are many such tiny signs of shifts and maneuvers that have the appearance of the dismantling of the old power elite.

Maybe Obama just has to let things collapse fully before he can smack the Robber Barons and make them give back all the stuff they stole. It's an interesting game.

 

[FluffyMcDeath]

Could this be a sign that banks think the economy is improving?
I know that before when prices were falling banks were holding off on foreclosure because they didn't want to dump a lot of homes into a fragile market. Maybe now they see an opportunity to move some of these places so they are finishing up the paperwork on old defaults.

 

[cecilia]

there's lot's of home building and adding to an existing home in my neighborhood. yes, there is at least one home I know of that has been empty for several years now, but who knows why. I've never been in it. maybe it's too small??

sure, times are tough ( I guess I can still see the rocks and dirt pass me by as we fall off that cliff.... )

but at least it's slowing down. people around here still have their belts tight but we are surviving.

I have noticed that people in the food business seem to be doing fine. I guess we still need to eat no matter what :mrgreen:

 

[FluffyMcDeath]

Foreclosure Feedback Loop

 

[faethor]

March home building was up 1.6% from 2008.

 

[faethor]

Jobs moving up. Nothing to be overly excited about. But, we got to start somewhere. Let's hope this is the start.

"Gallup estimates that more than 1.5 million Americans who were underemployed became employed to full capacity over the last month. Gallup's 30-day average underemployment measure (not seasonally adjusted) declined to 19.2% on April 18 -- a sharp improvement from the 20.2% reported on March 21 -- and essentially matching its best level of the year.
"

 

[cecilia]

nice! let's hope those numbers keep moving in those directions

fingers crossed