Thursday, Oct 15, 2009

But i thought it was all over!!!

Cnn: Foreclosures Worst three months of all time

Despite the Dow hitting 10,000 and hopes for an economic recovery, the third quarter shows that the foreclosure plague is still spreading.
**can anyone actually afford the house they bought?**

Posted by mark @ 09:03 AM (865 views)
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5 Comments

1. crunchy said...

**can anyone actually afford the house they bought?**

Most can, but for the greedy we have the priced out FTBers paying for the Ponzi Property Bill in taxes and lost savings.

A working class hero is something to be!

Thursday, October 15, 2009 09:18AM Report Comment
 

2. bystander said...

So can someone please tell me how this can possibly equate to higher revenue for consumer driven businesses (therefore sustainable in the medium to long term), rather than purely speculative financial businesses, like investment banking, or commodity companies, selling to China so China can build up huge reserves of metals etc. Anyone else think the Chinese are preparing for massive commodity price inflation, in the medium to long term. This is all going to get very messy and it sickens me to see our leaders, and by this I don't just mean HMG, selling us all down the river for the sake of the fat cat donors, and vested interests in these speculative businesses. A mate once worked for on a metals futures exchange and he sold copper that may or may not exist in the mines owned and run by the companies he dealt with. Really giving something back to the world.

Thursday, October 15, 2009 10:00AM Report Comment
 

3. Greenshootsandleaves said...

Are the Chinese behind those cash-for-your-gold-jewellery schemes some of you may have noticed being advertised on TV of late?

Thursday, October 15, 2009 10:27AM Report Comment
 

4. greenshootsandleaves said...

Are the Chinese behind those cash-for-your-gold-jewellery schemes some of you may have noticed being advertised on TV of late? (Sorry, forgot to type the password in!)

Thursday, October 15, 2009 10:32AM Report Comment
 

5. mark wadsworth said...

**can anyone actually afford the house they bought?**

I've been saying that for about seven years - I asked people, on your current salary, and assuming you had a ten per cent deposit, would you be able to buy your own home? Most people admitted they wouldn't be able to. OK, prices are back to where they were five years ago (in most areas) but that was still ludicrously expensive. I wouldn't have been able to afford to buy my own house since about 2002 (and I only bought it in 1998, FFS!)

Thursday, October 15, 2009 11:02AM Report Comment
 

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