The Great Depression OHH they hope.

[Guest Guest]

This really is Doom & Gloom at it's most extreme. And this all came from one article

 

The number of U.S. homes heading toward foreclosure more than doubled in the first quarter from a year earlier, as weakening property values and tighter lending left many homeowners powerless to prevent homes from being auctioned to the highest bidder

 

Nationwide, 649,917 homes received at least one foreclosure-related filing in the first three months of the year, up 112 percent from 306,722 during the same period last year

 

The latest tally also represents an increase of 23 percent from the fourth quarter of last year.

 

However, the unavailability of loans for people without perfect credit and a significant down payment is slowing the process (Do you think maybe giving loans to just anyone provoked the problem?)

 

All told, one in every 194 households received a foreclosure filing during the quarter.

 

Now the problem with all the quotes which were only a portion in the article is that this final number makes one believe if they don't know that your neighbor just might be next.

 

One out of every 194 homes foreclosed on in the first quarter. Do you know what percentage that is? .5%. Point five percent! One half of 1% of homes in this country are being foreclosed on -- one half of one percent, or one out of every 194.

 

 

[Guest Guest]

I'm tired of hearing about this "mortgage crisis". Here's an idea. Get a fixed rate 15 or 30 year mortgage. If you can't afford that, then maybe you should keep saving your money until you can. People act like this is rocket science. Do some basic research instead of blaming others for making a dumb decision or expecting the rest of us to pay for your own mistake.

[Guest guest]

Sorry to the comment above mine. We ARE in a recession and the worst is yet to come. We are in a morgage crisis in the USA. I am glad you are comfortable, but ALOT of the US are not. Everything has gone up dramatically. I am glad you are sheltered.

[Guest Guest]

Sorry to the comment above mine. We ARE in a recession and the worst is yet to come. We are in a morgage crisis in the USA. I am glad you are comfortable, but ALOT of the US are not. Everything has gone up dramatically. I am glad you are sheltered.

 

So far, the Leader of the Western World, GWB, has not uttered the word "recession."

Like everything else he bungles, he must truly believe that it will go away if he just ignores it. Sort of like a five year old.

I thought he was supposed to be some sort of "Common Man's President".

 

If he can't even acknowledge the realities Americans face, he'll be doing his party a lot of damage in Nov.

 

 

@

[Guest Guest]

Everything is fine. Free market solutions fix everything . . . unless it's an election year and your poor policies might affect the Republican cadidates. In that case you should insist that the Dems give out more money so things look A-OK at election time. Now get out there and buy a new Korean DVR or a Japaneese TV set - we've got an economy to stimulate!!!

[Guest Guest]

Sorry to the comment above mine. We ARE in a recession and the worst is yet to come. We are in a morgage crisis in the USA. I am glad you are comfortable, but ALOT of the US are not. Everything has gone up dramatically. I am glad you are sheltered.

 

Some that can't even spell the word "mortgage" probably shouldn't be allowed to get one...

[Guest Guest]

Some that can't even spell the word "mortgage" probably shouldn't be allowed to get one...

 

If not being able to spell or speak correctly could put you in jail, Bush would never have been able to run for office

[Guest Guest]

We are not in a recession. Sorry to disappoint you but that is a fact.

 

Everyone I know who is having financial problems has mad stupid choices in the past. Free wheel spending when the money was rolling in, in debt up to their ears, wasting money on fancy cars, overbought on a house.

 

Housing prices are stable here if not going up. In fact, I laugh at how high some of the prices are on the home sales TV show.

 

[Guest Guest]

We are not in a recession. Sorry to disappoint you but that is a fact.

 

Everyone I know who is having financial problems has mad stupid choices in the past. Free wheel spending when the money was rolling in, in debt up to their ears, wasting money on fancy cars, overbought on a house.

 

Housing prices are stable here if not going up. In fact, I laugh at how high some of the prices are on the home sales TV show.

 

 

Reality check: the asking price for a house is NOT the market value.

Everyone on the planet, except you, GWB and Darth Cheney knows we're in the beginnings of a recession.

 

The smart money is on GWB never actually using the "R" word while he's still occupying the Oval Office.

[Guest Guest]

We are not in a recession. Sorry to disappoint you but that is a fact.

 

Everyone I know who is having financial problems has mad stupid choices in the past. Free wheel spending when the money was rolling in, in debt up to their ears, wasting money on fancy cars, overbought on a house.

 

Housing prices are stable here if not going up. In fact, I laugh at how high some of the prices are on the home sales TV show.

I agree with the part of wasting money on fancy cars and overbought on a house. Everybody wants to look like they are rich. What we used to call keeping up with The Jones'. I dont think the rest of us should have to bail them out of it. They should have done their research and made better choices. I cant afford these people. I am to busy paying for the welfare people.

 

[Guest Guest]

I agree with the part of wasting money on fancy cars and overbought on a house. Everybody wants to look like they are rich. What we used to call keeping up with The Jones'. I dont think the rest of us should have to bail them out of it. They should have done their research and made better choices. I cant afford these people. I am to busy paying for the welfare people.

 

 

I doubt the majority of Americans have been living way above their means for awhile and need to be bailed out now.

 

Do you have any idea how much $ is handed out in corporate welfare every day??

 

We're still subsidizing the oil industry. Even while they make record amounts of money month after month.

[Guest Guest]

Reality check: the asking price for a house is NOT the market value.

Everyone on the planet, except you, GWB and Darth Cheney knows we're in the beginnings of a recession.

 

The smart money is on GWB never actually using the "R" word while he's still occupying the Oval Office.

There is your prayers for a dem and media induced recession right down the Popper PAL.

See unlike you libs I let the facts speak for themselves

 

First-quarter growth stronger than forecast

Wed Apr 30, 2008 9:35am EDT

 

WASHINGTON (Reuters) - The economy grew at a slightly stronger pace than forecast as 2008 began, helped by inventory-building that tempered a steadily deteriorating housing sector and less vigorous consumer spending.

 

So did Bloomberg News:

 

U.S. Economy Expanded at 0.6% Pace in First Quarter (Update1)

 

 

By Shobhana Chandra

 

April 30 (Bloomberg) -- The U.S. economy expanded at a 0.6 percent annual pace in the first quarter as an increase in inventories compensated for weaker consumer spending and a drop in business investment.

 

The gain in gross domestic product, the sum of all goods and services produced, was more than forecast and matched the rate of growth in the previous three months, the Commerce Department reported today in Washington. The last time the economy grew less was in the fourth quarter of 2002.

 

 

[Guest Guest]

Reality check: the asking price for a house is NOT the market value.

Everyone on the planet, except you, GWB and Darth Cheney knows we're in the beginnings of a recession.

 

The smart money is on GWB never actually using the "R" word while he's still occupying the Oval Office.

You are right. Sometimes homes sell for about asking price.

 

No realtor is going to waste their time and money advertising a home that is significantly above market value. Everyone puts some fat in their asking price so that they can "come down".

 

Since a recession is defined by 2 consecutive quarters of negative growth, it is unlikely we will be in a recession when GWB leaves office.

[Guest Guest]

Many Republicans are worried about the upcoming election. They usually can raise the people's lot in life, albeit temporarily, for long enough before an election to keep things afloat (statistically the Republicans are worse for regular workers until half a year before the Presidential election when there's almost always a brief spike in prosperity for the common Joe - go ahead, look it up). This time though things are proving tougher. The Republican are now abandoning their free market principles and are acting like Dems in their proposed spending. Meanwhile, the President is whining that the Dems aren't giving him the money he wants to make the common Joe feel like everything is hunky dorey while we incur enough debt to have supplied the Nation with non-petrolium based energy which would have eliminated the need to fight for the oil and regional stability and which is keeping us from spening money to have to keep fighting for the oil.

[Guest Guest]

Yeah, lets elect a bunch of liberals who will tax the crap out of us and spend it on garbage. It works so well. Today Binghamton, tomorrow the rest of the country.