Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end. House sales are picking up across most of the country, the plunge in prices is slowing and attempts by lenders to claim back properties from struggling borrowers dropped by more than a third in 2011, hitting a four-year low.
But a painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.
"We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010," said Mark Seifert, executive director of Empowering & Strengthening Ohio's People (ESOP), a counseling group with 10 offices in Ohio.
Americans Brace For Next Foreclosure Wave
Posted 05 April 2012 - 08:14 AM
The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.
The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.
Posted 05 April 2012 - 05:16 PM
"If I should die, think only this of me: that there's some corner of a foreign field that is for ever England"
"Debt is the fatal disease of republics, the first thing and the mightiest to undermine governments and corrupt the people”
Posted 05 April 2012 - 07:58 PM
Posted 05 April 2012 - 08:11 PM
This is exactly what we need over here. A real challenge to the smug home owning status quo in this country. Time for folk to reap what they have sowed. Bring it on.
How do you repo a home owner?
Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street
It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default
"The trouble with the world was that prices were so low that only the rich people could buy and the aim of the Conference was to raise them to a point where it would again be possible for poor people to buy something."
"Northern unemployment is an acceptable price to pay for curbing southern inflation" Eddie George former Governor of the Bank of England
New digest on the credit crisis and economy Part2 Part 3
Posted 05 April 2012 - 10:03 PM
I'm very much at the stage where if we don't start getting affordable housing comparable to the USA, I will be taking my experience and skills there. 18 months sounds about fair.
Same here. Think I might post something about beating Tony Blair to death, extradition might be a cheap way to relocate.
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