Add me as a friend on Facebook!
http://www.facebook.com/harryc
Get DAILY GrowBy10 Updates on Twitter!
http://twitter.com/GrowBy10
Support this Channel: Subscribe & Comment. Thank you all!
What I learned today will have devastating ramification for the real estate marketing and in turn the entire financial and stock market and the broader economy as a whole.
If true…our real estate fate is seal. There will be more housing and real estate foreclosure carnage ahead. The road is long.
Prepare yourself and protect your family from this coming economic catastrophe.
PLEASE RATE, LINK, SHARE and SPREAD the word so others can learn about the real nature of our real estate and economic crisis. Don’t be a sponge to the talking heads that spew only that which benefits them and their bosses. Wake up!
========================================
From L.A Times:
Bulk of bank-owned homes aren’t even on the market yet
“Banks to unleash flood of REOs” at Inman News looks at the effect of foreclosures on the housing market this year:
Inventories of unsold homes are likely to swell in coming months as lenders begin to push a growing backlog of repossessed homes up for sale — often in communities already awash in distressed properties….
Because it can take weeks or months for lenders to put repossessed homes on the market, the impact of real estate-owned (REO) properties on inventories lags behind foreclosures. Government efforts to recapitalize banks through the Troubled Asset Relief Program (TARP) and other bailout measures may also have taken some of the heat off of lenders to unload REO properties at fire-sale prices.
But with the emphasis of TARP and other government relief efforts now expected to shift to creating jobs, helping troubled borrowers avoid foreclosure and providing incentives for home buyers, lenders could soon unleash a torrent of real-estate owned, or “REO” properties — even in markets already flooded with an oversupply of homes for sale.
“It’s almost like a tsunami — you can see it coming and you know it’s going to hit but you can’t get out of the way,” said Ann Stickel, vice president of affiliated services with Sarasota, Fla.-based brokerage Michael Saunders & Co.
So how many bank-owned properties aren’t even on the Multiple Listing Service yet? RealtyTrac senior vice president Rick Sharga puts the number at 75%. That’s a lot of houses.
http://freemanuniversity.com/
http://www.Xirculate.com
http://www.youtube.com/user/FreemanUniversity
Tags: “The dollar collapse” “housing crisis” “financial crisis” subprime hyperinflation inflation economy “economic collapse” “stock market” “stock market collapse” “real estate” fed “federal reserve” money “fiat money” gold silver commodities housing bubble 2009 2008 downfall investing for sale training agent agency selling subprime Peter Schiff Jim Rogers Gerald Celente Alex Jones Ben Bernanke
Duration : 0:7:54
[youtube 8GQpuuvax_w]
Simply put… The …
Simply put… The Fed’s contraction of our US money supply has caused inflation burst. What does that mean? It means that anyone overleveraged, will lose their resources to the economic powers that be. It’s just part of economic slavery and part of our “boom to bust” cyclical debt based monetary policy in our country.
Personally, I have been “on to it” for several years. Live, learn, and “trim your sails to fit the breeze”…
I think the time …
I think the time has come to stop calling this a recession and start calling this a depression. The media is not in charge of calling this what it is. The situation determines what it should be called and the situation mirrors a DEPRESSION. The media will probably start calling 30% unemployment a hyper recession. Why are they so afraid of the letter D. It is what it is. We must get past the denial stage if recovery is to take shape.
Very informative …
Very informative video. I have been getting some interesting information that the Commercial Real-Estate Market(next shoe to drop) is about to come down heavy on the banks balance sheets. This will trigger a mini depression….!
Sorry folks, you …
Sorry folks, you have been had, peed on, scammed and lied to.
WallStreet bailouts were rigged and a fraud, market manipulations,
high freqency trading, flash orders, naked short selling by:
Goldman, JPM, Cit, MorgStanley, Aig, stay away from this scum.
The Fed, Comex, ETF’s, Govt data: frauds. Your labor devalued to Zero.
Pull your money out, walk away from your mortgage and CC card debt,
We can beat them at their own game, buy pure silver bullion,
buy local mom and pop. Starve The Beast!
what will be the …
what will be the trigger that forces banks to list on the MLS those foreclosed homes that they are currently sitting on??
yes ! that is the …
yes ! that is the nature of toxic debts – they poison the system maybe to terminus
This will bring in …
This will bring in the “need” for martial law. The borrowers will pay a price they never thought would happen. As civilization breaks down, and crime goes up, make sure you are on the dictatorial government side, or you will pay big time. Join the national home-land military, or you will be a ‘terrorist’, and pay the price of one. I know this sounds bizarre, however, depopulation, and racial war is at the actual heart of the goals that have caused this to happen.
“keeping up w the jones’”
The GOAL was to …
The GOAL was to consolidate the banking industry into a handful of large banks. I strongly suggest ALL search ‘bankrate.c’ or other rating sites. My previous bank was a one star, the lowest rating.
Real Estate in this area is in freefall. NOW CONSIDER HOW ANGRY I AM, and who I blame. I do not believe in borrowing money. I see it as a sin. Paying usury (interest) is a sin punishable by death in Scripture. I own real estate in three states. Because of borrowers, I suffer loss.
Q3 GDP showed +3,5% …
Q3 GDP showed +3,5% of groth.
32% Cash for Clunkers
27% Inventory
17% household
13% Government
so on…
Does these 27% inventory “private investiment” has something to do with the 70% foreclosures out of the MSL lists?
If so… Does that mean we are dommed? Is this Big Weapon of Mass Destruction Bubble going to explode soon!
Thanks!
Most banks are …
Most banks are insolvent… without Gov intervention there would be no assets and they would be belly up..Thats not economics 101..Thats bullshit.. the banks will get whats coming to them one way or another..I will not buy a house until the tax credit is discontinued
50 thousand down
…
50 thousand down
will proably buy the house and the house next door
if its in gold you will get the whole block
this is a race to the bottom
Would give you 10 …
Would give you 10 thumbs up if allowed. People need to hear the truth in order to make good decisions. People in your position can expose more.
Great video–would …
Great video–would you please consider updating the information? Thanks for posting this valuable info.
there is nothing …
there is nothing new to this, banks won’t sell assets because at foreclosed prices they loose assets, and become insolvent. economics 101.
I serve foreclosure …
I serve foreclosure summonses is NJ. It has been obvious to me the banks are not listing these foreclosures via MLS listings. Good information! Thanks for exposing this!
This is a fact. …
This is a fact. They are called shadow inventory…A huge surplus kept off the market for the benifit of the banks…Thats ok.. another huge wave of forclosures on the way.. my message to Bankers.. Nice Job Dick Heads!!! You will open the flood gates …sooner or later..meanwhile I will sit on the fence with my $50,000 down payment…Bankers and Realtors ..EAT IT!!
great video great …
great video great info
how current is this?
how current is this?
I fear the US got a …
I fear the US got a loooong way to recovery, you still float on the dollar but Shiff and Stiglitz is prob right when they say your currency is under trmendous pressure. China cant afford to pull out at the moment. I fear china will be dominating together with India and other asian economies. Luckely my country runs large surpluses and is just in a bilatheral trade agreement with EU. What is things switch…dollar fall and equity rise, that would be a downfall with a different dynamic.
So many people …
So many people trashed their houses… Everyone stop making payment to the bank NOW… my condo just bought back by lender, Freddie Mac. this house will be trash. Foreclosure will sustain for a long period. Don’t buy Bank Owned Homes. they put a toilet right in the living room, a junk car in the family room, the house is flooded, the cement down the toilet pipe, will come to youtube soon for you guys to view. DO NOT BUY Foreclosure Homes, REO, Pre forecloser.
For all those …
For all those beginning investors. Get ready to hunt for properties that banks have lost pages on. They will be dirt cheap when market recovers and start to rise. Who knows when that will be.
this is true,, …
this is true,, drive around your hood.. you will see unlived in homes owned by the bank, that are NOT for sale… they are not listed because they can not sell them.. also the more houses on the market.. the lower the selling price…….. this is going to go on for years…
true – defer losses (we had a house in my area sold for under 60K.. others houses are selling for over 300k)
bank holidays are coming…
buy gold and silver before it is too late
Recession is …
Recession is artifical creation and Housing Market will go up as few hidden hands start buying homes to make tons of Money when economy start going up!
@Anyone thinking of …
@Anyone thinking of supporting this is a total idiot for buying a house in a falling market. ….don’t u think that’s being a little harsh?
this was a grand illusion..and many smart…and good people got tricked.
yes, we all need to take responsibility..but what about the business who profited most from this fraud…they should be punished more than those “suckers”, right?
@MandM- what about …
@MandM- what about Japanese in the 90′s? they came over and bought everything…and WAY overpaid. and they went bankrupt …while the sellers here in the US got rich…and many bought back the same properties they sold for pennies on the dollars.
you have some good points. but if anyone want’s to buy our worthless real estate…why not let the owners of the RE have the freedom to do as they wish?
Pingback: My Blog Title