I am from the free property buyers agent dot com. We certainly can gauge that their is a world of opportunity in the states at the moment. Provided finance is obtainable
It is definitely scary to think of all these scenarios. The U.S. has been in trouble for years now it is finally hitting hard. Wish we had a president that could do something!
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Thanks for the video. I really think having INVESTESTORS in the market is better...people like Mr3Days.com from FL. ...These guys make a profit on flipping the homes but atleast they get the homes sold
i dont understand a shit what u mean ????? i dont like these videos about these stuff they (borrrrrrrrrrrrrrrrrrrrrrrrrrrriiiiiiiiiiiiiinnnnnnngggggggggggggggggggg ) go download fallout game and play it well help u thinking about these ideas xD me 13 years old xD
this entire mortgage crisis fiasco pisses me off so much i want to bomb every banking institution in sight! almost all the foreclosures intiated by the banks ARE ILLEGAL! they foreclose on peoples homes without having the orginal mortgage note and the banks after all the finacial imperatives given to them by the bailout funding will still refuse to help struggling homeowners and lend money to consummers while they give out fat bonuses to the ceos and bank employees that is unacceptable!
It's time to reverse ALL foreclosures and eviction dating back to Y2K and forgive ALL current mortgages. Talk about a stimulus package that would ACTUALLY WORK. If all those paying mortgages has that $500 to $5000 a month to spend back into the economy you would see a boom like never before. We were ALL born on this planet. We shouldn't have to pay for basic sustenance like food and housing. The banks NEVER OWN THE HOMES THEY FORECLOSE ON. Grasp that. Mortgage forgiveness and reconveyance NOW!
I have a few homes I need to get rid of for ASAP for only 20k they are already rented out for 500 a month. Add me on facebook and send me a message Travis Garlick
@planthi80 There is no more NORMAL. Every foreclosure I've looked at is severely damaged. The banks offer no warranty... yet. When the banks are desperate enough to GIVE you the extra cash to fix these places, then buy. The longer these properties sit unsold, the worse they fall into disrepair. The banks are still acting like they have the upper hand ... that WILL change. There will be more tax incentives to buy as well ... wait for it.
Yes, in a few years if nobody has a job where the real estate is located, the house could be worth 100,000 times less than it is carried on the bank's balance sheet. This would lead either to world wide meltdown, or to more massive bailouts by governments around the world, as this market used to be figured in trillions of dollars.
real estate is actually up 10% in my county this year...what the problem was is loan companies gave loans to people that didn't qualify and lots of people lost there jobs...it all depends on the area of the country, houses are being built in many subdivisions around mine...everything fluctuates...and of course we are in recession there is no denying that...in closing if I had something for sale and I had to wait to get full price or a profit I would sit on it as well, that is good business
real estate is actually up 10% in my county this year...what the problem was is loan companies gave loans to people that didn't qualify and lots of people lost there jobs...it all depends on the area of the country, houses are being built in many subdivisions around mine...everything fluctuates...and of course we are in recession there is no denying that...in closing if I had something for sale and I had to wait to get full price or a profit I would sit on it as well, that is good business
Something precious is happening in real estate, my little friend. The Fruit Bats are coming home to roost. See them fly. See their wings glittering in the sun. See the hidden Fruit Bats flopping around the banks. Get the banks to give banquets to the Fruit Bats before we all become batty. We need much-needed Fruit Bat cash for Nestor the Christmas Donkey. We need Mr. Heat Meister. We need Rudolph the Red Nosed Reigndeer. Dandy, good and realistic is the Fruit Bat world. Enjoy!
I totally agree with this video...I've personally been warning people about this coming housing problem since '1995, and people thought I was crazy...But they don't think of me crazy anymore. Housing values will drop to 70% due to the devalue of the dollar.
@billjesusgates in 2003-2005 banks sold another kind of fixed rate mortgage called Alt-A and Option Arm. These fixed rate mortgages start you out at $800 a month and jumps to 1600 around this year. The banks are expecting the Alt-A bubble to burst this year and the Option Arm bubble to burst in 2012.
Proof of this...my sister hasn't paid her mortgage in 10 months because she is underwater and Chase bank hasn't foreclosed yet.
WHY...Because of the very things talked about in this video.
They need houses off the market so they can try and stabilize the housing market but their is no stabilizing this. I feel for my sister but I just don't have 150k
Simply put... The Fed's contraction of our US money supply has caused inflation burst. What does that mean? It means that anyone overleveraged, will lose their resources to the economic powers that be. It's just part of economic slavery and part of our "boom to bust" cyclical debt based monetary policy in our country.
Personally, I have been "on to it" for several years. Live, learn, and "trim your sails to fit the breeze"...
I think the time has come to stop calling this a recession and start calling this a depression. The media is not in charge of calling this what it is. The situation determines what it should be called and the situation mirrors a DEPRESSION. The media will probably start calling 30% unemployment a hyper recession. Why are they so afraid of the letter D. It is what it is. We must get past the denial stage if recovery is to take shape.
The real estate agents only wanted to make money and did not care about putting people in a future bind. The buyers did not think about what would happen if the bubble bursts. But it is not right that the govt bailout did not allow for home owners to refinance at the current market value. Thank Obama for that. He could have prevented the entire forclosure mess but did not as he needs to make his jewish banker friends more money. Thats hope and change shit for you.
Very informative video. I have been getting some interesting information that the Commercial Real-Estate Market(next shoe to drop) is about to come down heavy on the banks balance sheets. This will trigger a mini depression....!
This will bring in the "need" for martial law. The borrowers will pay a price they never thought would happen. As civilization breaks down, and crime goes up, make sure you are on the dictatorial government side, or you will pay big time. Join the national home-land military, or you will be a 'terrorist', and pay the price of one. I know this sounds bizarre, however, depopulation, and racial war is at the actual heart of the goals that have caused this to happen.
The GOAL was to consolidate the banking industry into a handful of large banks. I strongly suggest ALL search 'bankrate.c' or other rating sites. My previous bank was a one star, the lowest rating.
Real Estate in this area is in freefall. NOW CONSIDER HOW ANGRY I AM, and who I blame. I do not believe in borrowing money. I see it as a sin. Paying usury (interest) is a sin punishable by death in Scripture. I own real estate in three states. Because of borrowers, I suffer loss.
Does these 27% inventory "private investiment" has something to do with the 70% foreclosures out of the MSL lists? If so... Does that mean we are dommed? Is this Big Weapon of Mass Destruction Bubble going to explode soon!
Most banks are insolvent... without Gov intervention there would be no assets and they would be belly up..Thats not economics 101..Thats bullshit.. the banks will get whats coming to them one way or another..I will not buy a house until the tax credit is discontinued
I serve foreclosure summonses is NJ. It has been obvious to me the banks are not listing these foreclosures via MLS listings. Good information! Thanks for exposing this!
This is a fact. They are called shadow inventory...A huge surplus kept off the market for the benifit of the banks...Thats ok.. another huge wave of forclosures on the way.. my message to Bankers.. Nice Job Dick Heads!!! You will open the flood gates ...sooner or later..meanwhile I will sit on the fence with my $50,000 down payment...Bankers and Realtors ..EAT IT!!
I fear the US got a loooong way to recovery, you still float on the dollar but Shiff and Stiglitz is prob right when they say your currency is under trmendous pressure. China cant afford to pull out at the moment. I fear china will be dominating together with India and other asian economies. Luckely my country runs large surpluses and is just in a bilatheral trade agreement with EU. What is things switch...dollar fall and equity rise, that would be a downfall with a different dynamic.
So many people trashed their houses... Everyone stop making payment to the bank NOW... my condo just bought back by lender, Freddie Mac. this house will be trash. Foreclosure will sustain for a long period. Don't buy Bank Owned Homes. they put a toilet right in the living room, a junk car in the family room, the house is flooded, the cement down the toilet pipe, will come to youtube soon for you guys to view. DO NOT BUY Foreclosure Homes, REO, Pre forecloser.
For all those beginning investors. Get ready to hunt for properties that banks have lost pages on. They will be dirt cheap when market recovers and start to rise. Who knows when that will be.
this is true,, drive around your hood.. you will see unlived in homes owned by the bank, that are NOT for sale... they are not listed because they can not sell them.. also the more houses on the market.. the lower the selling price........ this is going to go on for years...
true - defer losses (we had a house in my area sold for under 60K.. others houses are selling for over 300k)
Recession is artifical creation and Housing Market will go up as few hidden hands start buying homes to make tons of Money when economy start going up!
We will find out soon enough. Pls next time when you will record a video, ask someone else to read the script. Because the whole: TIME BOMB PANIC SHIT I GETTING OLD. i find it amusing that you reed papers and watch tv..... but your whole film is base on some infos..... ON A BLOG, ffs
@BuB- this was done in jan. 2009 and i've been talking about the real estate crisis since 2007.
what part of this video or you called "panic shit" is "getting old".
can u use your brain to do something than criticize? add an argument or some facts...anything to prove that you are a thinking person...not just a small minded n00b.
CHINA is buying up the properties. It is a result of the New World Order agenda, IE Bilderburg,Council on Foreign Relations. Bush, Obama, most all people in power are working for an alternative plan. We are selling off our roads to foreign countries and taxing the citizens here to use them. Our dollar is going to tumble, as they introduce the AMERO, and ultimatly the new world gvt. The object is to get USA to fall. Eventually we will be invaded by Russia and china. It is extremely bad.
@MandM- what about Japanese in the 90's? they came over and bought everything...and WAY overpaid. and they went bankrupt ...while the sellers here in the US got rich...and many bought back the same properties they sold for pennies on the dollars.
you have some good points. but if anyone want's to buy our worthless real estate...why not let the owners of the RE have the freedom to do as they wish?
Ignorance is bliss... There are still peeps out there who are sitting on the fence ready to jump in as soon as they find out that a certain house keeps dropping in price from the original hyperinflated price from the peek of the housing boom.
The banks know this and suck in another sucker (every minute) to take over a devalued home.
Anyone thinking of supporting this is a total idiot for buying a house in a falling market.
@rdrserg - you're right. there probably ARE a large number of people waiting to jump in. They are still looking at past prices and comparing...thinking it's going to be back to the "good ol days".
@Anyone thinking of supporting this is a total idiot for buying a house in a falling market. ....don't u think that's being a little harsh?
this was a grand illusion..and many smart...and good people got tricked.
yes, we all need to take responsibility..but what about the business who profited most from this fraud...they should be punished more than those "suckers", right?
Because the banks are holding the houses....they are not letting them go in the market....They got 500 billion dollars parked in the Fed. Who knows what is going on....
CubistCafe: Good question. One answer is that maybe the prices have not yet been updated on the Internet... But there is also enough evidence to show that house prices have dropped in many areas of the US. In some areas where there are few speculative investors and many people buying out of need, then the prices there will be more stable.
However, the banks have 500 billion parked on the Fed. As hyperinflation will hit, RE will be the best asset to own. This will be for themselves not for the people. The only thing I know is that they don't care about us!
"As hyperinflation will hit, RE will be the best asset to own"
That might exactly be the point!
the USA has so much dept - in all sectors (private, public, companies) - getting rid of all this dept might probably the best and only way to re-start.
(else, the rates which have to be paid to the exporting-nations, who did lend the money they made by exporting back to their customers (so the customers could keep on buying), won't allow the US-economy to grow for a long, long period of time...)
What do you mean with the rates which have to be paid to the exporting-nations? Do you think the mortgages or loan contracts in dollars will be adjusted as the inflation comes?
about the fact, that the US had and still has a negative trade ballance - so, the USA needs hundrets of billions of dollars from foreign countries each year.
And guess what: "somebody" has to pay interest rates for these billions of dollars.
And, if the deptor has a contract with flexible percentage rates: yes, in such cases the amount of money to be paid will certainly rise.
However, the banks have 500 Billion parked on the Fed. They are holding the RE for themselves because as the hyperinflation will hit, RE will be the right asset to have, this will give them total control of the people.....
Why not pay these homeowners a gov't bonus for failing, we don't want to lose these brilliant folks same as the banks and brokerages do after all that would be fair!
PS-I would not buy one of these houses at a phony market value, the gov't /Banks should lease these properties 20 -40 year terms, the people can stay not trash them for having to leave, even hand them down to there kids to lease and they banks would not have to list them as a toxic debt/loss on their books.
I know a real estate broker who represents the banks and markets their foreclosed homes. He tells me that the foreclosure market has dwindled down to a very small trickle. He said the banks are not releasing their foreclosures and are holding onto them. A couple of months ago, he told me the banks were going to release a huge supply of foreclosures to sell in July. Now, he says that did not happen and he is being told, by the banks, they will be released in November 2009.
If home owners lose their jobs, they will sell their homes at a lower price then the market to 1) get their equity and 2) To not ruin thier credit. Banks know that to complete they will have to sell even lower and this will push prices much lower. Banks do not want to push prices lower because more people will abandon their homes and cause a bigger problem for the Banks.
Interesting analysis. Big banks/lenders do not want us to know the depth of the crisis. Keep the house you can realistically afford and live beneath your means. The days of trading up for a bigger house/pricer home are gone for an entire generation. Ask anyone raised during the depression and you will get an honest assessment.
i see second wave of foreclosures before bottom hitting. if two house asre bought for 300K and one forcloses and short sale for 200K what will happen?? the next house will foreclose maybe two after that.
??? i know i would be mad if i owned the 300K house lol. second wave before stabilzation.
I heard that the upward resetting on the interest rates for Alt-a and option ARM loans have been postponed until september 2010, is this true? as my understanding was that these loans are worth 1.7 trillion, when the subprime loans were worth only 1 trillion, and look at the havoc they caused, I think this new wave of defaults was supposed to start in April this year and would have increased into 2010 and 2011, plus commercial property is supposed to start defaulting soon too, whats the latest?
I warned you my fellow Christians, THE END IS COMING! Depart now from all form of unrighteousness such as fornication, homosexuality, pornography, watching violent entertainment, drug abuse, smoking, gambling, cursing, bullying, revelries, pursuit of money and idolatry etc. LEST YOU BE FOUND NOT WORTHY TO ENTER THE KINGDOM OF GOD.
A volcano situated in the US will erupt not far from now, when this happen you will know that this warning is from God.
one thing I'm confused about in relation to "pursuit of money" is what do you live on? surely you need money to pay for your essentials like food, accommodation,clothes etc...?where do you draw the line between providing your essential needs and greedy excess?
The real estate market has been nuked, the tax base has been DESTROYED and the best estimates are that it will take a decade for it to come back.
Municipal services??? There are none because there is no money to pay for them. The city is having to bulldoze the vandalized/wrecked properties in the interest of public safety. Place looks like a war zone now.
What was the point of making the people leave their houses? why not just let them stay in them for as much as they can afford while a buyer can be found?, why not just rent the house back to the owner who has just defaulted until a buyer can be found?, and who knows?maybe these people will manage to get themselves into a financial position to continue paying the mortgage? better than just leaving the place to be wrecked, that was a lose-lose decision
mindstream you need to FOCUS on what you are dealing with here.
2 competing agendas. The seen agenda is public safety that has to be dealt with by public authorities. The unseen agenda is the profit driven mindset of zombie banks. These zombie banks and their bacterial bankster staffs are going to continue to do what they have always done in these circumstances untill they are forced to do otherwise.
The tragedy is the lives and families that are destroyed until public policy catches up.
originalrawskilz. You're onto it dude. There is a bigger picture. The sheeple are controlled by the mass media. I've read hundreds of books, trying to figure out what the **** is going on. And spent a lot of time on the internet trying to make sense of it. I was a businessman (self employed) that gave up in disgust, when I realised that laws oppose laws. And they're written by the few to benifit the few. I talked to a billionaire about it. He said, Yes they make liars out of us. BIGGER PICTURE!!
if his research is correct hes absolutely right, and this coupled with the commercial real estate crash is going to implode the economy and destroy the dollar and there is no bailout that will fix the problem , what is needed is radical change..
North American Union, isnt a rumor, check the SPP, Its going to happen because people in the US, dont care about real issues, because the issues are too complex as they think about them,
The would rather listen to ignorant theologians, watch fake news, and baseball or something, and by the time they get up to speed they will wake up in the NAU, and will be in a totalitarian,fascist,socialist state.
I can certainly see it happening against the wishes of the American people with a certain degree of resistance and possibly some form of militia like effort to stop it but after it happens and the dust settles then why would the system be any more totalitarian,fascist etc...than the EU for instance?although there are some smart people who can see trouble looming for the EU in the not to distant future also
You are so correct! Look where we are now. We are IN a socialist state. WE Are IN A full bown Depression. The ultimate answer will be for them to say we need to merge into one currency, just like the bible says. Things are rapidly going down hill. Our rights are being taken away, we no longer have a free society today. If you are looking for a daily news program that talks about these issues, listen to Infowars. They are the best source for information regarding the Fall of the US.
I've read that a second wave of bad mortgage loans will begin soon. Also confirm the info presented here. Go buy a foreclosed McMansion for 10% of it's high price!
With all the trillions of dollars of our hard earned money that the Federal Government is spending to BAIL OUT them Thieving BANKSTER The money could pay for every persons mortgages and education! Everybody in America! What is wrong with this picture? And also! They are trying to say that "We are the ones to blame"... It is Not FOLKS! WAKE UP!! The Bankers lobbied to have the Glass Steagle Act abolished during the Clintons administration! And ever since...
Derivatives & Ponzi schemes has created a economic black whole! No matter how much money they put into bail outs, it will never be enough! This is designed to break our economy down! That why NAFTA was put in place to have our BUSINESSES go elsewhere! We are slowly being stripped of our means to export & support ourselves as a Country and to rely on our government to take care of us! BUT! Not before they strip up of our Freedoms! WAKE UP! Look at the big picture!!!
He right about real estate but dead wrong on the stock market. The stock market will lead us out of the depression like real estate did after 9/11. Due to the fact Obama will put billions of dollars in the economy which will increase corporate profits
only 30% of foreclosures are being marketed because the other 70% are being postponed at the trustee sale indefinitely. the trustee sale is where the smart money is going
Those fuckers that lived beyond on their means deserve what they get! They chose to trade in their upside-down SUV on a newer, bigger land yacht when gas was $4/gallon. They are the ones who maxed out their Best Buy cards on soon-to-be-obsolete tech gadgets that pay no dervitives.
My mother's losing her home, and I will not bail her ass out. She made her bed.
I have a 796 credit score, not because I'm rich (I am a poor college student), but because I live WELL BELOW MY MEANS!!!
Good of you to share your maternal love for the being responsible for your existence - "I will not bail her ass out."
I hope you're studying psychology or psychiatry because anyone airing their parental issues online surely needs some help. Fucking narcissistic, ingrate.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their CHILDREN WAKE-UP HOMELESS on the continent their fathers conquered . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
—Thomas Jefferson, The debate over the recharter of The Bank Bill, (1809)
4 CENTS PER BILL - I first assumed that they are talking about ONE DOLLAR BILLS but after reading it again, I am not too sure. I doubt that they print billions in ONES to distribute to their banking buddies.
This makes what your talking about 100 times worse. If you were worried before, then its time to freak out!
Everyone should search WIKIPEDIA for 1) FEDERAL RESERVE SYSTEM AND 2) UNITED STATES DOLLAR....."The U.S. Treasury, through its Bureau of the Mint and Bureau of Engraving and Printing, actually produces the nation's cash supply and, in effect, sells it to the Federal Reserve Banks at manufacturing cost, currently about 4 CENTS PER BILL for paper currency. The Federal Reserve Banks then distribute it to other financial institutions in various ways.[22]."
There is a way to hold predatory lenders responsible, help people to keep there homes, and not put the tax burden on future generations. It is called term ownership. Do the research and tell your senator about it before it's too late.
No, it's not capitalism, it's corporatism, and federal reserve "lender of last resort" socialism. It distorts risk assessment, the increase in money supply allowed these home prices to expand, because banks had access to easy credit which facilitated the malinvestment and disposal of lending standards. Capitalism is a way of life.
But the problem is people don't want to wait people want to buy it now and these buyers don't have a lot of money. If they lose their jobs, which I'm sure they will, their homes will be foreclosed.
Thank you. What you're saying is a well hidden fact. Even the news and the Fed Reserve stooges are saying things will get better soon and are looking up now. The so called American dream itself is at least 70% overrated, not just cheaply made stick frame houses.
You're 100% correct. I didn't know about the banks books, but I believe that there will be another round of forclosures comming around June. The Alt-A and Option Arm loans will be adjusting. There is a lot more to come. Compared to gold prices, the stock market is 1/2 inflaton. When the market corrects this summer, it will fall to half.
Where I'm living in another country, I'm living in a place almost twice as large and currently 1/3 the price in a big US city. Wages haven't been going up in a long time. Once people figure out how to make a living in other countries, people will be leaving these overpriced areas where the price may not bottom out for 10 years or more. It was a bubble. Many people who still own, don't want to admit it, because it's too humiliating.
Here is a thought ...ever here of REO's? That's why they are not listed. The bank sells them in bundles to investors like myself to avoid the costly and lengthy MLS process. Maybe you should get all the fact before posting videos like this. The Real Estate Market or the Market in general does not need half truths!
The Federal Reserve (private Co.) are the Kings of yore, (not the good ones). The grace Commission, Reagan. States that all the money the IRS collects goes to pay the intrest on the Federal debt. We should print our own money. Coincedentally, the presidents that propose it are assasinated. Lincoln, Kennedy, Reagan critisised Fed Reserve and IRS, was shot and PROBABLY a clone. Laugh, then FIND TRUTH. google project camelot. Whistleblowers from the inside. Then laugh at how you've been played serf
So, I'm talking about a classic investment style, somewhat forgotten, that was based on living in a time when bank deposits were not guaranteed, gold was more commonly dispersed among the populace, and a 10% position in gold was standard if you were going to be overweight in paper markets. This style was never the standard approach of the dominant firms the US investor was robbed by.
I'm talking about classic investment strategy devoid of all the sales pitches thrown at a person by investment houses. Whether those houses were the big Wall St. names or the local offices of places like Ed Jones. When asked about gold investment by their clients, the brokers invariable told people that gold is a barbarous relic of the past. This is why so few people own gold / silver now. The idea of gold / silver as insurance was disregarded.
Hi, Growby, You used the term "near term" in your question to matushka. All I can say is that I have seen over the last six years many predictions I have made and others made, ended up wrong - the manipulators knock the price down.
Not true about "classic investment style." As close as I can tell all the investment firms told the average investor to disregard gold altogether, because it didn't pay interest. The people that got us into this mess control the printing press.
Precious metals always retain value, because they're real and the oldest form of money. So, it's good to have some gold/silver coins just in case, the dollar hyperinflates. In the next year or so, the dollar will do fine against other currencies (because every central bank is printing money), but it will lose value against real money - gold. Gold is not an investment, it's just helps you retain purchasing power. If you're keeping cash, I would tell you to convert some into gld/slv coins
I can't tell you the exact number, but there has been a correction of $80 in about 2 weeks. I think, there are some redemptions being paid for by gold and there is less demand for jewellery at this point. In the near term, I think it's going to be volatile, but hover around 880-920; but it should hit 1200 by the end of this year.
I have been in the precious metals market for six years. Short term price predictions are pretty much impossible. The entire problem really revolves around the idea that few people followed classic investment advice that 10% of money should always be in precious metals as insurance against currency collapse. A person would not worry about the current price if this principle were applied as intended. Thinking you can get gold 100 dollars cheaper is just a "quibble." Gold goes to 3-6K IMO.
ed841. Is the Dow dropping from 14k to 6k in 1 year considered short term? or how about Dow 12k to 6 k in 6 months?!?!
Those who say developed the "classic" investment style (and the 10% in metals) are the same ones who got us into this mess...and the same ones who have been always been chanting the same old mantra...buy and hold, buy and hold..repeat.
Is that the type of "classic" you're referring too?
A home is just a consumer item which lasts 60-100 years. Long Term (30 years) Real Appreciation (Inflation Adjusted) of a home is 1 to 2 %. Just compare the price of silver and a home, you'll see the flat graph. The Realtor Assoc. and the brokers etc try to just con people into buying a home with borrowed money. And our dumb population speculates on homes like a herd of sheep without even understanding the fundamentals of the Asset Class.
@matushka. Do you feel the same way how everyone (coin dealers and a LOT of people her on Youtube) is now pushing/persuade to buy precious metals? just want to hear your thoughts. thanks!
Real Estate never was/is/will be an investment. Home Price = 2.5 to 3.0 times the median income. If it's going higher and there's no reason, it's a speculative bubble! Real estate prices ONLY rise when median income grows, or number of rental properties decrease or number of people hitting the job market increases. Only buy a home if you want to live in it or want to rent it out to others. That's why I rent, I will buy when the price drops to 2.5 times median income and pay in cash.
Nice video, you should point people to Peter Schiff, Ron Paul, Marc Faber, Roy Rogers and Don Harrold (on youtube). They'll tell you the economy the MSM does not want you to hear, and things you should be buying (gold, silver).
Heh looks like the days of speculation are over. US will have to learn how the rest of the world earns real value, instead of foreign borrowed credit.
Yes you are correct but the banks are getting exactly what they deserve. I know first hand I tried to do a short sale to get rid of a property in FL. but the 2 banks were too greedy to make a deal even though they had a qualified buyer that was going to pay market value at the time, which we supplied for them. Now they have a trashed house and no buyer.They would not budge on the short sale now they can have their crap and eat it too! I told them 5 to 7 years before market improves! Im a Laman!
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Good observations. The game is over here....the way of life we know in the United States is over...watch Peter Schiff, Jim Rogers, Marc Faber. Get educated and start saving money.
Consider that if Growby10 is correct, the banks are doing more than cushioning themselves from recognizing a loss. They are cushioning the public from that same recognition. Is that bad or good? I don't know. I'm okay in my house, but one of my kids is staring at an ARM reset and the other is keeping a tight lip. I suppose the answer is to ask whether it is cheaper to sacrifice the money already spent versus pouring more in and starting fresh. Maybe everyone should ask that question themselves.
Real Estate-its a sham in itself. Ran by people who are too dumb to do anything else in life and devoid of all reasoning. Doctors and Lawyers are constantly criticized for taking lives/money. Well at least they require training. What does Real Estate require? Exactly-little to no training. These people can't even measure square footage. With the market collapse I hope to see them at soup kitchens.
Real estate has always operated in boom and bust cycles. Check out some history such as the "Mississippi bubble". Our current overinflated real estate bubble was due to burst. The problem is that our socialist government is making the problem worse by delaying the inevitable and could turn a recession into a depression instead of doing what we should do; biting the bullet and taking our medicine. Letting banks and overextended homeowners fail is the quickest way to rebuild the economy.
Real estate has been operating in boom and bust cycles since the beginning of time and our current overinflated bubble was due to burst. My problem is that our socialists in government are making the problem worse by delaying the inevitable and could turn a recession into a depression instead of taking our medicine. Letting banks and overextended homeowners fail is the quickest way to rebuild the economy.
If you don't see that we are already headed into a Great Depression (irregardless of what "socialists in government" do)....you haven't been paying attention....
The latest issue of BusinessWeek magazine claims that one million homes have been so far foreclosed on in the last two years, but that in the next four years they expect 6 million additional homes to be foreclosed. I have heard other reports claim 8 million additional homes will be foreclosed on in the next four years...Alt A and Option Arms are then next wave coming per 60 minutes..
I am from the free property buyers agent dot com. We certainly can gauge that their is a world of opportunity in the states at the moment. Provided finance is obtainable
freebuyersagent 3 months ago
It is definitely scary to think of all these scenarios. The U.S. has been in trouble for years now it is finally hitting hard. Wish we had a president that could do something!
Cleanrealestate 5 months ago
I am reading an awful lot about this every where you go...interesting stuff in your video..keep em coming!
capecoralrealestate1 6 months ago
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whotaughtyou 7 months ago
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puzanshrestha 7 months ago
very nic
adeelirfan100 7 months ago
Thanks for the video. I really think having INVESTESTORS in the market is better...people like Mr3Days.com from FL. ...These guys make a profit on flipping the homes but atleast they get the homes sold
IgnacioStapleton 7 months ago
Why do you Yanks always play silly music when you are setting up your websites !
boum62 8 months ago
Most of these idiots never deserved the money they had in the first place.
EconCat88 8 months ago
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Great video about foreclosures! For first time home buyer resources in the Santa Clara County check out BayAreaConnect
bayareaconnect 8 months ago
Good video but for more investment information check out my blog.
2146nick 9 months ago
i dont understand a shit what u mean ????? i dont like these videos about these stuff they (borrrrrrrrrrrrrrrrrrrrrrrrrrrriiiiiiiiiiiiiinnnnnnngggggggggggggggggggg ) go download fallout game and play it well help u thinking about these ideas xD me 13 years old xD
TheLambox99 9 months ago
Nice Videos!!!
When you get a chance, visit my channel for real estate news, tips and more
VegasRealEstateBlog 9 months ago
America, America, America, America
O beautiful for spacious skies, for amber waves of grain
For purple moutain majesties above thy fruited plain!
America, America, God shed His grace on thee
And crown thy good with brotherhood from sea to shining sea
alecfromelatvia 11 months ago
this entire mortgage crisis fiasco pisses me off so much i want to bomb every banking institution in sight! almost all the foreclosures intiated by the banks ARE ILLEGAL! they foreclose on peoples homes without having the orginal mortgage note and the banks after all the finacial imperatives given to them by the bailout funding will still refuse to help struggling homeowners and lend money to consummers while they give out fat bonuses to the ceos and bank employees that is unacceptable!
doctorw2 1 year ago
OMG this guy is a retard. "70%.....ugh that's seven zero". LOL
dandm2003 1 year ago
IMPORTANT!!! Watch "A HOME FIT FOR ROYALTY"
ThePrezidentialbey 1 year ago
what about 2011? the interest rates are very low.
canarsiemarsie 1 year ago
performer background music ?
caballos66 1 year ago
All gonna crash huh? GOOD! I hope so. I went to University, college, and am in my last year of law. I dont have anything...so why should anyone else!
clarkent69 1 year ago
It's time to reverse ALL foreclosures and eviction dating back to Y2K and forgive ALL current mortgages. Talk about a stimulus package that would ACTUALLY WORK. If all those paying mortgages has that $500 to $5000 a month to spend back into the economy you would see a boom like never before. We were ALL born on this planet. We shouldn't have to pay for basic sustenance like food and housing. The banks NEVER OWN THE HOMES THEY FORECLOSE ON. Grasp that. Mortgage forgiveness and reconveyance NOW!
AceOfHeart2012 1 year ago
Nice video There buying them under everybody's feet PICK AND CHOOSE
Ibuysellinvest 1 year ago
O.o
neanam 1 year ago
I love the video!!! you did well.
I have a few homes I need to get rid of for ASAP for only 20k they are already rented out for 500 a month. Add me on facebook and send me a message Travis Garlick
the1andonlytravis 1 year ago
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AlbertInSanAntonio 1 year ago
Very Good Video, thanks for posting. The more I learn even though this video was made in 2009 the better.
BabylonsKing 1 year ago
How long will it take for the market to return to normal?...and should I buy I condo or home now?
planthi80 1 year ago
@planthi80 There is no more NORMAL. Every foreclosure I've looked at is severely damaged. The banks offer no warranty... yet. When the banks are desperate enough to GIVE you the extra cash to fix these places, then buy. The longer these properties sit unsold, the worse they fall into disrepair. The banks are still acting like they have the upper hand ... that WILL change. There will be more tax incentives to buy as well ... wait for it.
grizzzlyjoe 1 year ago
Yes, in a few years if nobody has a job where the real estate is located, the house could be worth 100,000 times less than it is carried on the bank's balance sheet. This would lead either to world wide meltdown, or to more massive bailouts by governments around the world, as this market used to be figured in trillions of dollars.
powergirl901 1 year ago
real estate is actually up 10% in my county this year...what the problem was is loan companies gave loans to people that didn't qualify and lots of people lost there jobs...it all depends on the area of the country, houses are being built in many subdivisions around mine...everything fluctuates...and of course we are in recession there is no denying that...in closing if I had something for sale and I had to wait to get full price or a profit I would sit on it as well, that is good business
13COU 1 year ago
real estate is actually up 10% in my county this year...what the problem was is loan companies gave loans to people that didn't qualify and lots of people lost there jobs...it all depends on the area of the country, houses are being built in many subdivisions around mine...everything fluctuates...and of course we are in recession there is no denying that...in closing if I had something for sale and I had to wait to get full price or a profit I would sit on it as well, that is good business
13COU 1 year ago
Something precious is happening in real estate, my little friend. The Fruit Bats are coming home to roost. See them fly. See their wings glittering in the sun. See the hidden Fruit Bats flopping around the banks. Get the banks to give banquets to the Fruit Bats before we all become batty. We need much-needed Fruit Bat cash for Nestor the Christmas Donkey. We need Mr. Heat Meister. We need Rudolph the Red Nosed Reigndeer. Dandy, good and realistic is the Fruit Bat world. Enjoy!
JoeJacari 1 year ago
One strategy a bank does is simply bulldoze the house, its cheaper!
monkeyman1140 1 year ago
Love your use of "Rosemary's Baby" in the background!
phlashba 1 year ago
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great video, reminds me of southern california, there is a way to make money from a declining commercial real estate market...
check out DRV
it is like a mutual fund which is positioned to make money shorting the commercial real estate market.
vpatel12 1 year ago
I totally agree with this video...I've personally been warning people about this coming housing problem since '1995, and people thought I was crazy...But they don't think of me crazy anymore. Housing values will drop to 70% due to the devalue of the dollar.
patrickfb123 1 year ago
where is the bomb? real estate prices are up. thank god i bought some last year.
billjesusgates 1 year ago
@billjesusgates in 2003-2005 banks sold another kind of fixed rate mortgage called Alt-A and Option Arm. These fixed rate mortgages start you out at $800 a month and jumps to 1600 around this year. The banks are expecting the Alt-A bubble to burst this year and the Option Arm bubble to burst in 2012.
animus2001 1 year ago
@animus2001 whatever, dude. i'm up 15% in 2010. eat dust, loser.
billjesusgates 1 year ago
Proof of this...my sister hasn't paid her mortgage in 10 months because she is underwater and Chase bank hasn't foreclosed yet.
WHY...Because of the very things talked about in this video.
They need houses off the market so they can try and stabilize the housing market but their is no stabilizing this. I feel for my sister but I just don't have 150k
DirtyVegas7 1 year ago
Simply put... The Fed's contraction of our US money supply has caused inflation burst. What does that mean? It means that anyone overleveraged, will lose their resources to the economic powers that be. It's just part of economic slavery and part of our "boom to bust" cyclical debt based monetary policy in our country.
Personally, I have been "on to it" for several years. Live, learn, and "trim your sails to fit the breeze"...
BourneAccident 2 years ago
I think the time has come to stop calling this a recession and start calling this a depression. The media is not in charge of calling this what it is. The situation determines what it should be called and the situation mirrors a DEPRESSION. The media will probably start calling 30% unemployment a hyper recession. Why are they so afraid of the letter D. It is what it is. We must get past the denial stage if recovery is to take shape.
carp1844 2 years ago
The real estate agents only wanted to make money and did not care about putting people in a future bind. The buyers did not think about what would happen if the bubble bursts. But it is not right that the govt bailout did not allow for home owners to refinance at the current market value. Thank Obama for that. He could have prevented the entire forclosure mess but did not as he needs to make his jewish banker friends more money. Thats hope and change shit for you.
FireFlyF111 1 year ago 2
Very informative video. I have been getting some interesting information that the Commercial Real-Estate Market(next shoe to drop) is about to come down heavy on the banks balance sheets. This will trigger a mini depression....!
rrodri4892 2 years ago
what will be the trigger that forces banks to list on the MLS those foreclosed homes that they are currently sitting on??
cg7seas 2 years ago
yes ! that is the nature of toxic debts - they poison the system maybe to terminus :(
shazam20007 2 years ago
This will bring in the "need" for martial law. The borrowers will pay a price they never thought would happen. As civilization breaks down, and crime goes up, make sure you are on the dictatorial government side, or you will pay big time. Join the national home-land military, or you will be a 'terrorist', and pay the price of one. I know this sounds bizarre, however, depopulation, and racial war is at the actual heart of the goals that have caused this to happen.
"keeping up w the jones'"
EliyahMessageTime 2 years ago
The GOAL was to consolidate the banking industry into a handful of large banks. I strongly suggest ALL search 'bankrate.c' or other rating sites. My previous bank was a one star, the lowest rating.
Real Estate in this area is in freefall. NOW CONSIDER HOW ANGRY I AM, and who I blame. I do not believe in borrowing money. I see it as a sin. Paying usury (interest) is a sin punishable by death in Scripture. I own real estate in three states. Because of borrowers, I suffer loss.
EliyahMessageTime 2 years ago
Q3 GDP showed +3,5% of groth.
32% Cash for Clunkers
27% Inventory
17% household
13% Government
so on...
Does these 27% inventory "private investiment" has something to do with the 70% foreclosures out of the MSL lists? If so... Does that mean we are dommed? Is this Big Weapon of Mass Destruction Bubble going to explode soon!
Thanks!
exmiles 2 years ago
Great video--would you please consider updating the information? Thanks for posting this valuable info.
acanthus211 2 years ago
there is nothing new to this, banks won't sell assets because at foreclosed prices they loose assets, and become insolvent. economics 101.
kotpet 2 years ago
Most banks are insolvent... without Gov intervention there would be no assets and they would be belly up..Thats not economics 101..Thats bullshit.. the banks will get whats coming to them one way or another..I will not buy a house until the tax credit is discontinued
ryphil4 2 years ago
I serve foreclosure summonses is NJ. It has been obvious to me the banks are not listing these foreclosures via MLS listings. Good information! Thanks for exposing this!
crustyblob 2 years ago 3
Would give you 10 thumbs up if allowed. People need to hear the truth in order to make good decisions. People in your position can expose more.
acanthus211 2 years ago
This is a fact. They are called shadow inventory...A huge surplus kept off the market for the benifit of the banks...Thats ok.. another huge wave of forclosures on the way.. my message to Bankers.. Nice Job Dick Heads!!! You will open the flood gates ...sooner or later..meanwhile I will sit on the fence with my $50,000 down payment...Bankers and Realtors ..EAT IT!!
damnright4 2 years ago 8
50 thousand down
will proably buy the house and the house next door
if its in gold you will get the whole block
this is a race to the bottom
gazoorap 2 years ago
great video great info
penna479 2 years ago
how current is this?
smcuriel 2 years ago
I fear the US got a loooong way to recovery, you still float on the dollar but Shiff and Stiglitz is prob right when they say your currency is under trmendous pressure. China cant afford to pull out at the moment. I fear china will be dominating together with India and other asian economies. Luckely my country runs large surpluses and is just in a bilatheral trade agreement with EU. What is things switch...dollar fall and equity rise, that would be a downfall with a different dynamic.
Epicuree 2 years ago
So many people trashed their houses... Everyone stop making payment to the bank NOW... my condo just bought back by lender, Freddie Mac. this house will be trash. Foreclosure will sustain for a long period. Don't buy Bank Owned Homes. they put a toilet right in the living room, a junk car in the family room, the house is flooded, the cement down the toilet pipe, will come to youtube soon for you guys to view. DO NOT BUY Foreclosure Homes, REO, Pre forecloser.
850T5R 2 years ago
For all those beginning investors. Get ready to hunt for properties that banks have lost pages on. They will be dirt cheap when market recovers and start to rise. Who knows when that will be.
jinha911 2 years ago
this is true,, drive around your hood.. you will see unlived in homes owned by the bank, that are NOT for sale... they are not listed because they can not sell them.. also the more houses on the market.. the lower the selling price........ this is going to go on for years...
true - defer losses (we had a house in my area sold for under 60K.. others houses are selling for over 300k)
bank holidays are coming...
buy gold and silver before it is too late
cds162 2 years ago 3
Recession is artifical creation and Housing Market will go up as few hidden hands start buying homes to make tons of Money when economy start going up!
davidshaz20000 2 years ago
We will find out soon enough. Pls next time when you will record a video, ask someone else to read the script. Because the whole: TIME BOMB PANIC SHIT I GETTING OLD. i find it amusing that you reed papers and watch tv..... but your whole film is base on some infos..... ON A BLOG, ffs
BuBmalenstwo 2 years ago
@BuB- this was done in jan. 2009 and i've been talking about the real estate crisis since 2007.
what part of this video or you called "panic shit" is "getting old".
can u use your brain to do something than criticize? add an argument or some facts...anything to prove that you are a thinking person...not just a small minded n00b.
thanks for adding your voice.
Growby10 2 years ago
CHINA is buying up the properties. It is a result of the New World Order agenda, IE Bilderburg,Council on Foreign Relations. Bush, Obama, most all people in power are working for an alternative plan. We are selling off our roads to foreign countries and taxing the citizens here to use them. Our dollar is going to tumble, as they introduce the AMERO, and ultimatly the new world gvt. The object is to get USA to fall. Eventually we will be invaded by Russia and china. It is extremely bad.
MandMEvangelists 2 years ago 3
@MandM- what about Japanese in the 90's? they came over and bought everything...and WAY overpaid. and they went bankrupt ...while the sellers here in the US got rich...and many bought back the same properties they sold for pennies on the dollars.
you have some good points. but if anyone want's to buy our worthless real estate...why not let the owners of the RE have the freedom to do as they wish?
Growby10 2 years ago
Well back to toxic asset, aren't we? They really should clean up and nationalized the banks from the start.
overseachininadoll 2 years ago
COOL!!!! Dig that eery Rosemary's Baby Theme!
666 at it's BEST!
GIMMESHELTER50 2 years ago
@gimmyshleter - thanks for noticing!!!
Growby10 2 years ago
Ignorance is bliss... There are still peeps out there who are sitting on the fence ready to jump in as soon as they find out that a certain house keeps dropping in price from the original hyperinflated price from the peek of the housing boom.
The banks know this and suck in another sucker (every minute) to take over a devalued home.
Anyone thinking of supporting this is a total idiot for buying a house in a falling market.
rdrserg 2 years ago
@rdrserg - you're right. there probably ARE a large number of people waiting to jump in. They are still looking at past prices and comparing...thinking it's going to be back to the "good ol days".
Growby10 2 years ago
@Anyone thinking of supporting this is a total idiot for buying a house in a falling market. ....don't u think that's being a little harsh?
this was a grand illusion..and many smart...and good people got tricked.
yes, we all need to take responsibility..but what about the business who profited most from this fraud...they should be punished more than those "suckers", right?
Growby10 2 years ago
Most homes are going stright to auction and on not being listed
brent85243 2 years ago
But if you go onto the real estate MLS, the houses have not dropped in price.
Just do a random search on Yahoo real estate.
Houses are still the prices they have always been.
Why?
CubistCafe 2 years ago
Because the banks are holding the houses....they are not letting them go in the market....They got 500 billion dollars parked in the Fed. Who knows what is going on....
SilverRose09 2 years ago
maybe you shouldn't look at the "yahoo real estate",
but have a look at the "shiller home price index".
... Home prices dropped the most on record ...
... the biggest workforce reduction since 1945.
raiserhell 2 years ago
CubistCafe: Good question. One answer is that maybe the prices have not yet been updated on the Internet... But there is also enough evidence to show that house prices have dropped in many areas of the US. In some areas where there are few speculative investors and many people buying out of need, then the prices there will be more stable.
sliqer 2 years ago
However, the banks have 500 billion parked on the Fed. As hyperinflation will hit, RE will be the best asset to own. This will be for themselves not for the people. The only thing I know is that they don't care about us!
SilverRose09 2 years ago
"As hyperinflation will hit, RE will be the best asset to own"
That might exactly be the point!
the USA has so much dept - in all sectors (private, public, companies) - getting rid of all this dept might probably the best and only way to re-start.
(else, the rates which have to be paid to the exporting-nations, who did lend the money they made by exporting back to their customers (so the customers could keep on buying), won't allow the US-economy to grow for a long, long period of time...)
raiserhell 2 years ago
What do you mean with the rates which have to be paid to the exporting-nations? Do you think the mortgages or loan contracts in dollars will be adjusted as the inflation comes?
SilverRose09 2 years ago
I'm talking about interest rates;
I'm talking about the US current account,
about the fact, that the US had and still has a negative trade ballance - so, the USA needs hundrets of billions of dollars from foreign countries each year.
And guess what: "somebody" has to pay interest rates for these billions of dollars.
And, if the deptor has a contract with flexible percentage rates: yes, in such cases the amount of money to be paid will certainly rise.
(but most institutl. money has fixed rates)
raiserhell 2 years ago
In case of fixed rate the inflationary period will wipe the debt away?
SilverRose09 2 years ago
However, the banks have 500 Billion parked on the Fed. They are holding the RE for themselves because as the hyperinflation will hit, RE will be the right asset to have, this will give them total control of the people.....
SilverRose09 2 years ago
Why not pay these homeowners a gov't bonus for failing, we don't want to lose these brilliant folks same as the banks and brokerages do after all that would be fair!
PS-I would not buy one of these houses at a phony market value, the gov't /Banks should lease these properties 20 -40 year terms, the people can stay not trash them for having to leave, even hand them down to there kids to lease and they banks would not have to list them as a toxic debt/loss on their books.
buzzz1213 2 years ago
I know a real estate broker who represents the banks and markets their foreclosed homes. He tells me that the foreclosure market has dwindled down to a very small trickle. He said the banks are not releasing their foreclosures and are holding onto them. A couple of months ago, he told me the banks were going to release a huge supply of foreclosures to sell in July. Now, he says that did not happen and he is being told, by the banks, they will be released in November 2009.
WATCH OUT!!
BeenInACaveWayToLong 2 years ago
good info...reality check for those believing the economy is stabilizing...
hunterdownn 2 years ago
If home owners lose their jobs, they will sell their homes at a lower price then the market to 1) get their equity and 2) To not ruin thier credit. Banks know that to complete they will have to sell even lower and this will push prices much lower. Banks do not want to push prices lower because more people will abandon their homes and cause a bigger problem for the Banks.
MrAlanKendall 2 years ago
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Nice try. Keep it up check out esteembpo + com for social media marketing. ter
SadeTabitha 2 years ago
Interesting analysis. Big banks/lenders do not want us to know the depth of the crisis. Keep the house you can realistically afford and live beneath your means. The days of trading up for a bigger house/pricer home are gone for an entire generation. Ask anyone raised during the depression and you will get an honest assessment.
1977isheaven 2 years ago
i see second wave of foreclosures before bottom hitting. if two house asre bought for 300K and one forcloses and short sale for 200K what will happen?? the next house will foreclose maybe two after that.
??? i know i would be mad if i owned the 300K house lol. second wave before stabilzation.
AverAverComo 2 years ago
I heard that the upward resetting on the interest rates for Alt-a and option ARM loans have been postponed until september 2010, is this true? as my understanding was that these loans are worth 1.7 trillion, when the subprime loans were worth only 1 trillion, and look at the havoc they caused, I think this new wave of defaults was supposed to start in April this year and would have increased into 2010 and 2011, plus commercial property is supposed to start defaulting soon too, whats the latest?
mlndstream 2 years ago
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.
I warned you my fellow Christians, THE END IS COMING! Depart now from all form of unrighteousness such as fornication, homosexuality, pornography, watching violent entertainment, drug abuse, smoking, gambling, cursing, bullying, revelries, pursuit of money and idolatry etc. LEST YOU BE FOUND NOT WORTHY TO ENTER THE KINGDOM OF GOD.
A volcano situated in the US will erupt not far from now, when this happen you will know that this warning is from God.
.
conceil8 2 years ago
one thing I'm confused about in relation to "pursuit of money" is what do you live on? surely you need money to pay for your essentials like food, accommodation,clothes etc...?where do you draw the line between providing your essential needs and greedy excess?
mlndstream 2 years ago
How bad can it get?
The answer is : Stockton, Ca.
The real estate market has been nuked, the tax base has been DESTROYED and the best estimates are that it will take a decade for it to come back.
Municipal services??? There are none because there is no money to pay for them. The city is having to bulldoze the vandalized/wrecked properties in the interest of public safety. Place looks like a war zone now.
HiDesertEd 2 years ago
What was the point of making the people leave their houses? why not just let them stay in them for as much as they can afford while a buyer can be found?, why not just rent the house back to the owner who has just defaulted until a buyer can be found?, and who knows?maybe these people will manage to get themselves into a financial position to continue paying the mortgage? better than just leaving the place to be wrecked, that was a lose-lose decision
mlndstream 2 years ago
mindstream you need to FOCUS on what you are dealing with here.
2 competing agendas. The seen agenda is public safety that has to be dealt with by public authorities. The unseen agenda is the profit driven mindset of zombie banks. These zombie banks and their bacterial bankster staffs are going to continue to do what they have always done in these circumstances untill they are forced to do otherwise.
The tragedy is the lives and families that are destroyed until public policy catches up.
HiDesertEd 2 years ago
originalrawskilz. You're onto it dude. There is a bigger picture. The sheeple are controlled by the mass media. I've read hundreds of books, trying to figure out what the **** is going on. And spent a lot of time on the internet trying to make sense of it. I was a businessman (self employed) that gave up in disgust, when I realised that laws oppose laws. And they're written by the few to benifit the few. I talked to a billionaire about it. He said, Yes they make liars out of us. BIGGER PICTURE!!
imahamina 2 years ago
if his research is correct hes absolutely right, and this coupled with the commercial real estate crash is going to implode the economy and destroy the dollar and there is no bailout that will fix the problem , what is needed is radical change..
borat443 2 years ago 2
Maybe the 'North American Union' rumor wasn't just a conspiracy theory after-all?
mlndstream 2 years ago
North American Union, isnt a rumor, check the SPP, Its going to happen because people in the US, dont care about real issues, because the issues are too complex as they think about them,
The would rather listen to ignorant theologians, watch fake news, and baseball or something, and by the time they get up to speed they will wake up in the NAU, and will be in a totalitarian,fascist,socialist state.
borat443 2 years ago
I can certainly see it happening against the wishes of the American people with a certain degree of resistance and possibly some form of militia like effort to stop it but after it happens and the dust settles then why would the system be any more totalitarian,fascist etc...than the EU for instance?although there are some smart people who can see trouble looming for the EU in the not to distant future also
mlndstream 2 years ago
Agenda 21, changes everything if it moves forward.
borat443 2 years ago
You are so correct! Look where we are now. We are IN a socialist state. WE Are IN A full bown Depression. The ultimate answer will be for them to say we need to merge into one currency, just like the bible says. Things are rapidly going down hill. Our rights are being taken away, we no longer have a free society today. If you are looking for a daily news program that talks about these issues, listen to Infowars. They are the best source for information regarding the Fall of the US.
MandMEvangelists 2 years ago
Just a thought, but could the banks make a wholely owned subsidary contataining a chunk of these houses, and rent them out?
Britain did this in the 1970s with council housing, then gradually allowed the tentents to buy the houses from the councils at low prices.
This gets some money stream in as opposed to a loss, and has them inhabited and hence in better condition.
Write off the house value as 0, then look at a stream to come in and work up from the bottom.
Strettger 2 years ago
IF you want to know what will happen to America, look at Angola, Brazil, China, Middle East, Russia
Angola: Terrestrial mines do protect big companies complexes
Brazil: High criminality, infrastructure in shambles and a moron puppet in charge
China: people turned into slaves, no health care for them, if they have an accident at work, bad luck
Middle East: Military check points everywhere, no freedom, walls, etc
Russia:declining population due to addiction and diseases
monicamir 2 years ago 3
I've read that a second wave of bad mortgage loans will begin soon. Also confirm the info presented here. Go buy a foreclosed McMansion for 10% of it's high price!
shizont 2 years ago
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With all the trillions of dollars of our hard earned money that the Federal Government is spending to BAIL OUT them Thieving BANKSTER The money could pay for every persons mortgages and education! Everybody in America! What is wrong with this picture? And also! They are trying to say that "We are the ones to blame"... It is Not FOLKS! WAKE UP!! The Bankers lobbied to have the Glass Steagle Act abolished during the Clintons administration! And ever since...
OriginalRawSkillz 2 years ago
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OriginalRawSkillz 2 years ago
Derivatives & Ponzi schemes has created a economic black whole! No matter how much money they put into bail outs, it will never be enough! This is designed to break our economy down! That why NAFTA was put in place to have our BUSINESSES go elsewhere! We are slowly being stripped of our means to export & support ourselves as a Country and to rely on our government to take care of us! BUT! Not before they strip up of our Freedoms! WAKE UP! Look at the big picture!!!
OriginalRawSkillz 2 years ago 3
Remember what happened to Argentina! Don't be so Nieve that the samething can't happen to us!
OriginalRawSkillz 2 years ago
He right about real estate but dead wrong on the stock market. The stock market will lead us out of the depression like real estate did after 9/11. Due to the fact Obama will put billions of dollars in the economy which will increase corporate profits
ZukoLover4Ever 2 years ago
only 30% of foreclosures are being marketed because the other 70% are being postponed at the trustee sale indefinitely. the trustee sale is where the smart money is going
damonsberg 2 years ago
Those fuckers that lived beyond on their means deserve what they get! They chose to trade in their upside-down SUV on a newer, bigger land yacht when gas was $4/gallon. They are the ones who maxed out their Best Buy cards on soon-to-be-obsolete tech gadgets that pay no dervitives.
My mother's losing her home, and I will not bail her ass out. She made her bed.
I have a 796 credit score, not because I'm rich (I am a poor college student), but because I live WELL BELOW MY MEANS!!!
Suck it.
SpeedingStudent 2 years ago
Good of you to share your maternal love for the being responsible for your existence - "I will not bail her ass out."
I hope you're studying psychology or psychiatry because anyone airing their parental issues online surely needs some help. Fucking narcissistic, ingrate.
MarcusCMarcellus 2 years ago
How about you blow me Marcus?
She is a grown woman of 48 years...if she can't manage her funds, all the "help (ie CASH)" in the world won't help her.
Go fuck yourself with a broken beer bottle, you faggot.
SpeedingStudent 2 years ago
My mistake: obviously you're a student of Shakespeare - such eloquence and use of language could not be found elsewhere.
MarcusCMarcellus 2 years ago
Shakespeare is so overrated. I am more of a Huxley fan.
SpeedingStudent 2 years ago
People were stupid & greedy. Now they are paying for it the hard way!
Intransitman 2 years ago
Go to mzippi123 for the solution to the economic crisis.
colorslemon 2 years ago
good background music.
orangedac 2 years ago
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their CHILDREN WAKE-UP HOMELESS on the continent their fathers conquered . The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
—Thomas Jefferson, The debate over the recharter of The Bank Bill, (1809)
ForeclosureHotline 2 years ago 5
"I believe that banking institutions are more dangerous to our liberties than standing armies."
—Thomas Jefferson, The debate over the recharter of The Bank Bill, (1809)
ForeclosureHotline 2 years ago 2
Me Too
trikkelight 2 years ago
4 CENTS PER BILL - I first assumed that they are talking about ONE DOLLAR BILLS but after reading it again, I am not too sure. I doubt that they print billions in ONES to distribute to their banking buddies.
This makes what your talking about 100 times worse. If you were worried before, then its time to freak out!
ForeclosureHotline 2 years ago
Everyone should search WIKIPEDIA for 1) FEDERAL RESERVE SYSTEM AND 2) UNITED STATES DOLLAR....."The U.S. Treasury, through its Bureau of the Mint and Bureau of Engraving and Printing, actually produces the nation's cash supply and, in effect, sells it to the Federal Reserve Banks at manufacturing cost, currently about 4 CENTS PER BILL for paper currency. The Federal Reserve Banks then distribute it to other financial institutions in various ways.[22]."
ForeclosureHotline 2 years ago
We need 30 year fixed mortgage rates to be 2.5 % or lower to survive this crisis. Check out Fix Housing First.
November302008 2 years ago
There is a way to hold predatory lenders responsible, help people to keep there homes, and not put the tax burden on future generations. It is called term ownership. Do the research and tell your senator about it before it's too late.
lashark19 2 years ago
Believe it or not some people are still offering above asking price.
moniequa 2 years ago
Is God an absentee Landlord? Wake UP people. Capitalism is SORCERY
LoneOarman 2 years ago
If capitalism is sorcery, then what system would you support? Socialism, Oligarchy, what...
I take it that a meritocracy is sorcery? If we believe you.
markupshaw65 2 years ago
No, it's not capitalism, it's corporatism, and federal reserve "lender of last resort" socialism. It distorts risk assessment, the increase in money supply allowed these home prices to expand, because banks had access to easy credit which facilitated the malinvestment and disposal of lending standards. Capitalism is a way of life.
Wcoltd 2 years ago
it's means that all the people buying foreclosed homes could have bought it for 75% less if they waited
Decebal825 2 years ago
But the problem is people don't want to wait people want to buy it now and these buyers don't have a lot of money. If they lose their jobs, which I'm sure they will, their homes will be foreclosed.
moniequa 2 years ago
Thank you. What you're saying is a well hidden fact. Even the news and the Fed Reserve stooges are saying things will get better soon and are looking up now. The so called American dream itself is at least 70% overrated, not just cheaply made stick frame houses.
vdvsoldat 2 years ago
kenspohn- Yeah, and your bundle is going to be worthless in about 18 months. Keep paying those real estate taxes, insurance, upkeep!
moissanitestar 2 years ago
good info
fezz569 2 years ago
You're 100% correct. I didn't know about the banks books, but I believe that there will be another round of forclosures comming around June. The Alt-A and Option Arm loans will be adjusting. There is a lot more to come. Compared to gold prices, the stock market is 1/2 inflaton. When the market corrects this summer, it will fall to half.
Thanks.
biffmctavish 2 years ago
Where I'm living in another country, I'm living in a place almost twice as large and currently 1/3 the price in a big US city. Wages haven't been going up in a long time. Once people figure out how to make a living in other countries, people will be leaving these overpriced areas where the price may not bottom out for 10 years or more. It was a bubble. Many people who still own, don't want to admit it, because it's too humiliating.
bvonmoss 2 years ago
BVonMoss,
We are looking to relocated as expatriots. What country are you living in? And do you like it? We're currently researching.
Thanks!
Ashwood
AppleTreeFarms 2 years ago
Here is a thought ...ever here of REO's? That's why they are not listed. The bank sells them in bundles to investors like myself to avoid the costly and lengthy MLS process. Maybe you should get all the fact before posting videos like this. The Real Estate Market or the Market in general does not need half truths!
kenspohn 2 years ago
The Federal Reserve (private Co.) are the Kings of yore, (not the good ones). The grace Commission, Reagan. States that all the money the IRS collects goes to pay the intrest on the Federal debt. We should print our own money. Coincedentally, the presidents that propose it are assasinated. Lincoln, Kennedy, Reagan critisised Fed Reserve and IRS, was shot and PROBABLY a clone. Laugh, then FIND TRUTH. google project camelot. Whistleblowers from the inside. Then laugh at how you've been played serf
imahamina 2 years ago
Thanks, Growby10. I knew nothing about this. It's going to be disasterous - not only for the USA, but throughout the world.
treebucket3 2 years ago
Spot On!
TanukiDori 2 years ago
So, I'm talking about a classic investment style, somewhat forgotten, that was based on living in a time when bank deposits were not guaranteed, gold was more commonly dispersed among the populace, and a 10% position in gold was standard if you were going to be overweight in paper markets. This style was never the standard approach of the dominant firms the US investor was robbed by.
ed841rxm 2 years ago
I'm talking about classic investment strategy devoid of all the sales pitches thrown at a person by investment houses. Whether those houses were the big Wall St. names or the local offices of places like Ed Jones. When asked about gold investment by their clients, the brokers invariable told people that gold is a barbarous relic of the past. This is why so few people own gold / silver now. The idea of gold / silver as insurance was disregarded.
ed841rxm 2 years ago
Hi, Growby, You used the term "near term" in your question to matushka. All I can say is that I have seen over the last six years many predictions I have made and others made, ended up wrong - the manipulators knock the price down.
Not true about "classic investment style." As close as I can tell all the investment firms told the average investor to disregard gold altogether, because it didn't pay interest. The people that got us into this mess control the printing press.
ed841rxm 2 years ago
Precious metals always retain value, because they're real and the oldest form of money. So, it's good to have some gold/silver coins just in case, the dollar hyperinflates. In the next year or so, the dollar will do fine against other currencies (because every central bank is printing money), but it will lose value against real money - gold. Gold is not an investment, it's just helps you retain purchasing power. If you're keeping cash, I would tell you to convert some into gld/slv coins
matushka78 2 years ago
do you have any prediction on where's gold going in the near term?
Growby10 2 years ago
I can't tell you the exact number, but there has been a correction of $80 in about 2 weeks. I think, there are some redemptions being paid for by gold and there is less demand for jewellery at this point. In the near term, I think it's going to be volatile, but hover around 880-920; but it should hit 1200 by the end of this year.
matushka78 2 years ago
I have been in the precious metals market for six years. Short term price predictions are pretty much impossible. The entire problem really revolves around the idea that few people followed classic investment advice that 10% of money should always be in precious metals as insurance against currency collapse. A person would not worry about the current price if this principle were applied as intended. Thinking you can get gold 100 dollars cheaper is just a "quibble." Gold goes to 3-6K IMO.
ed841rxm 2 years ago
ed841. Is the Dow dropping from 14k to 6k in 1 year considered short term? or how about Dow 12k to 6 k in 6 months?!?!
Those who say developed the "classic" investment style (and the 10% in metals) are the same ones who got us into this mess...and the same ones who have been always been chanting the same old mantra...buy and hold, buy and hold..repeat.
Is that the type of "classic" you're referring too?
Growby10 2 years ago
A home is just a consumer item which lasts 60-100 years. Long Term (30 years) Real Appreciation (Inflation Adjusted) of a home is 1 to 2 %. Just compare the price of silver and a home, you'll see the flat graph. The Realtor Assoc. and the brokers etc try to just con people into buying a home with borrowed money. And our dumb population speculates on homes like a herd of sheep without even understanding the fundamentals of the Asset Class.
matushka78 2 years ago
@matushka. Do you feel the same way how everyone (coin dealers and a LOT of people her on Youtube) is now pushing/persuade to buy precious metals? just want to hear your thoughts. thanks!
Growby10 2 years ago
Real Estate never was/is/will be an investment. Home Price = 2.5 to 3.0 times the median income. If it's going higher and there's no reason, it's a speculative bubble! Real estate prices ONLY rise when median income grows, or number of rental properties decrease or number of people hitting the job market increases. Only buy a home if you want to live in it or want to rent it out to others. That's why I rent, I will buy when the price drops to 2.5 times median income and pay in cash.
matushka78 2 years ago
thanks for those comments. I think more and more people are coming around to that way of thinking.
Growby10 2 years ago
No one can buy those homes...without jobs...
nmbypmby34 2 years ago
that's all that need to be said.
Growby10 2 years ago
Nice video, you should point people to Peter Schiff, Ron Paul, Marc Faber, Roy Rogers and Don Harrold (on youtube). They'll tell you the economy the MSM does not want you to hear, and things you should be buying (gold, silver).
linnx88 2 years ago
Heh looks like the days of speculation are over. US will have to learn how the rest of the world earns real value, instead of foreign borrowed credit.
linnx88 2 years ago
Thanks for this news. Knowledge is power, especially what it is not discussed by the MSM.
When TSWTF all hell is going to break loose. 2nd Amendment protection now. Peace, but vigilance.
StevePalRP 2 years ago
Yes you are correct but the banks are getting exactly what they deserve. I know first hand I tried to do a short sale to get rid of a property in FL. but the 2 banks were too greedy to make a deal even though they had a qualified buyer that was going to pay market value at the time, which we supplied for them. Now they have a trashed house and no buyer.They would not budge on the short sale now they can have their crap and eat it too! I told them 5 to 7 years before market improves! Im a Laman!
kayla1736 2 years ago
your story is being repeated over and over again all over this country.
Growby10 2 years ago
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
RonRepublican 2 years ago 2
Good observations. The game is over here....the way of life we know in the United States is over...watch Peter Schiff, Jim Rogers, Marc Faber. Get educated and start saving money.
chris24sj 2 years ago
Consider that if Growby10 is correct, the banks are doing more than cushioning themselves from recognizing a loss. They are cushioning the public from that same recognition. Is that bad or good? I don't know. I'm okay in my house, but one of my kids is staring at an ARM reset and the other is keeping a tight lip. I suppose the answer is to ask whether it is cheaper to sacrifice the money already spent versus pouring more in and starting fresh. Maybe everyone should ask that question themselves.
jfingers15 2 years ago
Real Estate-its a sham in itself. Ran by people who are too dumb to do anything else in life and devoid of all reasoning. Doctors and Lawyers are constantly criticized for taking lives/money. Well at least they require training. What does Real Estate require? Exactly-little to no training. These people can't even measure square footage. With the market collapse I hope to see them at soup kitchens.
Txman1996 2 years ago
Real estate has always operated in boom and bust cycles. Check out some history such as the "Mississippi bubble". Our current overinflated real estate bubble was due to burst. The problem is that our socialist government is making the problem worse by delaying the inevitable and could turn a recession into a depression instead of doing what we should do; biting the bullet and taking our medicine. Letting banks and overextended homeowners fail is the quickest way to rebuild the economy.
i4Truth 2 years ago
lol.....true its a game, learn how to play and you win.
majsmoke187 2 years ago
so true. a game that affects people lives...but too many (on wall st. and elsewhere)...still just a game.
Growby10 2 years ago
Real estate has been operating in boom and bust cycles since the beginning of time and our current overinflated bubble was due to burst. My problem is that our socialists in government are making the problem worse by delaying the inevitable and could turn a recession into a depression instead of taking our medicine. Letting banks and overextended homeowners fail is the quickest way to rebuild the economy.
i4Truth 2 years ago
If you don't see that we are already headed into a Great Depression (irregardless of what "socialists in government" do)....you haven't been paying attention....
markm8128 2 years ago
The latest issue of BusinessWeek magazine claims that one million homes have been so far foreclosed on in the last two years, but that in the next four years they expect 6 million additional homes to be foreclosed. I have heard other reports claim 8 million additional homes will be foreclosed on in the next four years...Alt A and Option Arms are then next wave coming per 60 minutes..
EdwardRommel 2 years ago