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Nayved

Excited By The Repossions Numbers Going Up?

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Hello All,

Since my previous post was semi-successful, I thought we could try talking about America's house price crash.

Mortgage default notices increase by 39%

This will have a big impact next year on the repossoins figures and panics in America will make our own crash gather pace big time.

Would you not agree?

I get my information from this site:

San Francisco Bay Area Housing Crash Continues

Regards, :D

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I wouldn't exactly say I was excited by this. The simple reason being that a good percentage of the repossessions will be people losing their homes. It is always sobering to look at the human stories behind the statistics. Some uncharitable people may say "Well, so what, they overstretched themselves, they should have lived within their means so they deserve everything they get". However, this will only be a proportion of them, some people may have lost their job through redundancy or ill health or some other misfortune may have led them to this stage.

As a vindication for the view on here that the Western economies are struggling with the debt burden, I think it is a good indicator, but let's not forget these are also people like you and I.

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I wouldn't exactly say I was excited by this. The simple reason being that a good percentage of the repossessions will be people losing their homes. It is always sobering to look at the human stories behind the statistics. Some uncharitable people may say "Well, so what, they overstretched themselves, they should have lived within their means so they deserve everything they get". However, this will only be a proportion of them, some people may have lost their job through redundancy or ill health or some other misfortune may have led them to this stage.

As a vindication for the view on here that the Western economies are struggling with the debt burden, I think it is a good indicator, but let's not forget these are also people like you and I.

Hey Phaedrus,

I understand what you say. The number is the exciting part as when you see it, your heart skips a beat and your filled with horror for a second. It's like when the numbers were going up about the number of dead in last years Tsunami. As the numbers went up, you didn't sit there crying (unless you knew someone), you carried on watching, electrified, horrified.

I didn't post to say"Hey look at those dam fools", I posted to say "Hey, there will be a lot less people fooled by the vested interest in the very near future and that is good news".

Hey Consa,

Thanks for the link. Why is Las Vegas growing so much?

I was hoping you'd post on my first topic as your a regular hear. I'm sure you've read it. Would you like to comment on the post?

Regards,

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Why is Las Vegas growing so much?

BTL, I believe. Though I suspect it's also growing to some extent in reality as lots of people flee from California.

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BTL, I believe. Though I suspect it's also growing to some extent in reality as lots of people flee from California.

Hey MarkG,

So are jobs being relocated to Las Vegas from California? I imagine the gabling industries are not expanding. People gamble with properties, not chips anymore! LOL.

The internet gambling scene must have taken some punters away from LV.

I read a story last year about a guy who bought 2 properties next to each other in the new LV suburbs. One to live in & one to rent. Only he had bought properties on the estate. Total Ghost town.

Regards,

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Guest consa

Hey Consa,

Thanks for the link. Why is Las Vegas growing so much?

Regards,

Hey Nayved,:blink:

I doubt Las Vegas is growing much,take a look at the latest reductions these started at 257approx in may 05

http://www.lasvegashomes.com/Default.cfm/P...tartPage=/1.htm

America seems to be overtaking the UK with regard to house price falls and it seems to be freely reported in the media.

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BTL, I believe. Though I suspect it's also growing to some extent in reality as lots of people flee from California.

They're building like crazy in Vegas, certainly no question of a housing shortage like over here.

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So are jobs being relocated to Las Vegas from California?

Not sure, but last I heard there were something like four rental trucks leaving California for every one going in. An IT acquaintance who made a few million on stock options has also been saying that a lot of his wealthy IT friends have been moving to Nevada as the taxes are significantly lower.

Edited by MarkG

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Not sure, but last I heard there were something like four rental trucks leaving California for every one going in. An IT acquaintance who made a few million on stock options has also been saying that a lot of his wealthy IT friends have been moving to Nevada as the taxes are significantly lower.

Taxes might be lower but it's alot more decadent. Not the place for families!

Taking about Rental trucks, you probably mean Uhaul. They've said same thing about other locations. A bit of propaganda to keep their rates up?

Regards,

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Most wealthy IT people I know are libertarians, so 'decadence' will hardly bother them... indeed, it's probably an incentive to move.

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Hey Nayved,:blink:

I doubt Las Vegas is growing much,take a look at the latest reductions these started at 257approx in may 05

http://www.lasvegashomes.com/Default.cfm/P...tartPage=/1.htm

America seems to be overtaking the UK with regard to house price falls and it seems to be freely reported in the media.

Who in their right mind would pay $2.7m to live in a suburb in the desert? Vegas might be fun for a couple of days, but after that it's just appalling. Suckers. :lol:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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