Saturday, October 2, 2010

Foreclosure folly

can you imagine, the amount of foreclosures, the system being halted coupled with recasts in Aug of this year which will ultimately become more foreclosures beginning around December???click

this message says it all... “It is my opinion that this may be a lull before the next storm,” said McCabe, who is widely quoted in the national financial press as an expert on South Florida's real estate market.

then there's the inventory problem,
click here

Mad max mentioned all the time plunger alert. lower than cost to build 9 years ago.
previously sold for 710 now 3 something? gee I want to step right up, as "this is a great time to buy, prices will never be lower".....

Foreclosures folly could ruin Florida


1 comment:

140 dollars per sq foot said...

Well, I am amazed, foreclosures keep backing up, I know a guy who went chapter 7, the bank had a sheriffs sale, and he still collects rent and lives in one of his homes, 9 months later.
McCabe has been calling the shots right since I first read about him back in 2005.
I think we should see a flood of foreclosures unless they pull a 'Resolution Trust' stunt, like they did during the S&L scandal.
A wonderful buying opportunity for all those elite banksters with pocket fulls of bailout $$$.
BTW, Marvin Bush was up to his eyeballs in that banking nightmare too.