January foreclosures up 57% - AfroChat - African American

SistahSpeak · February 26th, 2008, 04:28 PM

January foreclosures up 57%

Filings saw yet another big jump last month, compared to levels a year ago; 45,327 homes were lost to bank repossessions.

NEW YORK (CNNMoney.com) -- Foreclosure filings nationwide soared 57% in January over the same month last year - another indication that the nation's housing woes are deepening.

A study released Tuesday by RealtyTrac, an online marketer of foreclosure properties, showed that 233,001 homes were affected, 8% more than in December. Of that total, 45,327 homes were lost to bank repossessions.

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With all the foreclosures it's being said that this "arm" of banking could go under. With a large part of the banking system flopping, what do you think will happen? Is the US looking at another 'depression'? Do you think that the government will step in? Will they have more control over home-buying process in the future?

No expert on the matter so I'm definitely seeking insight.

S

afrocentric · February 26th, 2008, 07:03 PM

what they need to do is start giving people a second chance to earn up to their standards if you know what i mean.....stop color picking.

Curious1 · February 26th, 2008, 07:30 PM

And the DEVELOPER DRAGONS KEEP MOWING DOWN THE GREENSPACE AND Building SUPERSIZED MEGA Mansions dwarfing older residential subdivisions which USED to be affordable...now taxes killin' the older homes again, DWARFED by these Overpriced homes..OR WORSE..NOT EVEN SINGLE FAMILY HOMES..BUT STACKED MATCHBOX OVERPRICES TOWNHOMES AND CONDO'S FOR single people..to marrieds without kids...as it affords lil growing room space for the growing family...or their pets....

We are losing greenspace by the masses...and forcing America to live stacked on top or ROW Homed attached to each other...Developers and Landlords making money hand over fists...from selling these overpriced matchboxes to the money they get from selling the liumber from all the trees they destroy to put up shrubs..and min-me trees...and no spacious backyards/frontyards that here in the A, many people enjoyed...

Deep down, I'm glad that foreclosure rates are F'in up the economy...maybe they will stop destroying the earth...lower prices..stop building all this overpriced ish...while laying off the American worker and OUTSOURCING the American company and jobs overseas and Mexico...how can an Unemployed American worker afford a townhouse or condo selling for 400, 000 to 700,000in areas where house used to go for 80 to 200,000 affordable...Big *** townhouse plopped right smack dead in the middle of a once urban project area... Now, the name of the game is move out the minority to encourage the ALLEGED majority to move back into the inner city to one of these gated looking 100% the same "Stepford Wife" type "security-walled and gated YUPPIE Utopia Neighborhoods in once crime ridden areas...

I feel sorry for the home owners who are losing their Mega Homes...under these rigged up mortgage deals...BUT am glad these developers, landlords and banks are having to deal with the houses NOT selling thus NOT making these Fat Cats..Fatter...what they get...

Day'em country in a liquid-fied "recession" and jobs leaving the country...and they expect people to be able to afford houses like that..overpriced..and NOT set on the average wage earning of a states people..but instead seem based upon the California to New York economic standards and wages...

Sick that Governmental housing authorities are razing say, senior housing apts and have legally been allowed to SALE these governmental lands to Private DEVELOPERS to build more MegaMess..while many seniors are being threatened and forced to move into a nursing home as the senior highrises are being torn down...lower income people being moved out of these "mixed housing/income" homes to other counties here...and the housing authority lands raising say, the "projects" NOT to move the displaced lower income folks BACK into the neighborhood...but to move predom YUPPIE's back into these areas...

So unfair..and short sighted....but these politicians have decided to sleep with the Devil..known as Developers...who STILL MAKE Ridiculous Money...

Sick of the way the world is going right now...Yuppies and Developers can kiss my azzzzzzzzzzzzzzzzzzzz....

Oooppppss....what was the Question Again...

...

February 26th, 2008, 04:28 PM	#1 (permalink)
SistahSpeak Afro Resident Join Date: Jun 2005 Location: Chicago Gender: Posts: 2,084 Thanks: 55 Thanked 101 Times in 69 Posts Rep Power: 35 Credits: 11,896	January foreclosures up 57% January foreclosures up 57% Filings saw yet another big jump last month, compared to levels a year ago; 45,327 homes were lost to bank repossessions. NEW YORK (CNNMoney.com) -- Foreclosure filings nationwide soared 57% in January over the same month last year - another indication that the nation's housing woes are deepening. A study released Tuesday by RealtyTrac, an online marketer of foreclosure properties, showed that 233,001 homes were affected, 8% more than in December. Of that total, 45,327 homes were lost to bank repossessions. ----------------------------------------------------------------- With all the foreclosures it's being said that this "arm" of banking could go under. With a large part of the banking system flopping, what do you think will happen? Is the US looking at another 'depression'? Do you think that the government will step in? Will they have more control over home-buying process in the future? No expert on the matter so I'm definitely seeking insight. S __________________ "Truth is verifiable."

February 26th, 2008, 07:03 PM	#2 (permalink)
afrocentric Afro Resident Join Date: Mar 2007 Location: oklahoma city Gender: Posts: 2,872 Thanks: 1,067 Thanked 450 Times in 364 Posts Rep Power: 64 Credits: 18,298	what they need to do is start giving people a second chance to earn up to their standards if you know what i mean.....stop color picking. __________________ To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts. hey yall!!!

February 26th, 2008, 07:30 PM	#3 (permalink)
Curious1 Afro Resident Emerging Voice Join Date: Jan 2005 Location: Somewhere Over The Rainbow Gender: Posts: 366 Thanks: 20 Thanked 22 Times in 16 Posts Rep Power: 15 Credits: 1,762	A Ramblers Rant and Rave...!!!! lol... And the DEVELOPER DRAGONS KEEP MOWING DOWN THE GREENSPACE AND Building SUPERSIZED MEGA Mansions dwarfing older residential subdivisions which USED to be affordable...now taxes killin' the older homes again, DWARFED by these Overpriced homes..OR WORSE..NOT EVEN SINGLE FAMILY HOMES..BUT STACKED MATCHBOX OVERPRICES TOWNHOMES AND CONDO'S FOR single people..to marrieds without kids...as it affords lil growing room space for the growing family...or their pets.... We are losing greenspace by the masses...and forcing America to live stacked on top or ROW Homed attached to each other...Developers and Landlords making money hand over fists...from selling these overpriced matchboxes to the money they get from selling the liumber from all the trees they destroy to put up shrubs..and min-me trees...and no spacious backyards/frontyards that here in the A, many people enjoyed... Deep down, I'm glad that foreclosure rates are F'in up the economy...maybe they will stop destroying the earth...lower prices..stop building all this overpriced ish...while laying off the American worker and OUTSOURCING the American company and jobs overseas and Mexico...how can an Unemployed American worker afford a townhouse or condo selling for 400, 000 to 700,000in areas where house used to go for 80 to 200,000 affordable...Big *** townhouse plopped right smack dead in the middle of a once urban project area... Now, the name of the game is move out the minority to encourage the ALLEGED majority to move back into the inner city to one of these gated looking 100% the same "Stepford Wife" type "security-walled and gated YUPPIE Utopia Neighborhoods in once crime ridden areas... I feel sorry for the home owners who are losing their Mega Homes...under these rigged up mortgage deals...BUT am glad these developers, landlords and banks are having to deal with the houses NOT selling thus NOT making these Fat Cats..Fatter...what they get... Day'em country in a liquid-fied "recession" and jobs leaving the country...and they expect people to be able to afford houses like that..overpriced..and NOT set on the average wage earning of a states people..but instead seem based upon the California to New York economic standards and wages... Sick that Governmental housing authorities are razing say, senior housing apts and have legally been allowed to SALE these governmental lands to Private DEVELOPERS to build more MegaMess..while many seniors are being threatened and forced to move into a nursing home as the senior highrises are being torn down...lower income people being moved out of these "mixed housing/income" homes to other counties here...and the housing authority lands raising say, the "projects" NOT to move the displaced lower income folks BACK into the neighborhood...but to move predom YUPPIE's back into these areas... So unfair..and short sighted....but these politicians have decided to sleep with the Devil..known as Developers...who STILL MAKE Ridiculous Money... Sick of the way the world is going right now...Yuppies and Developers can kiss my azzzzzzzzzzzzzzzzzzzz.... Oooppppss....what was the Question Again... ... Last edited by Curious1 : February 26th, 2008 at 07:52 PM.

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