when ancient civilisations collasped the residents during these times of collapse were unable to grasp where they were in the stream of time ? the majority today are unable to grasp the world has reached a pinacle of wickedness ? the economy has been the uniting factor of the world ? gone our civilisation collapses !
Sell the houses for dirt cheap, let prices fall back to Earth. Stop trying to keep people in homes they can't afford. Undo everything that the bubble did. If that means you get wiped out because you bought during the bubble, sorry, you're a dumbass. Easiest bubble ever seen.
Yes..., letting home prices fall should hurt speculators, people who plan on staying in their homes, and building their communities would not be affected by home price decrease.
Credit won't matter in the near future. Credit ratings will mean nothing. It will be back to the good old system of do you have a downpayment or collateral? Then you get a loan if you want at 15%+. The whole credit rating system is a major part of the problem.
Want to protect your credit rating and write off your debts like the big guys? File your UCC and set yourself up as a secured creditor. Check out Duranna here at youtube. She knows how it works pretty well. She's flying high on this new knowledge that is growing like wildfire---understandably. She filed her UCC online and within minutes her credit is wide open again. You can do self for free or she will do for you for $50. I think you can even write off school loans with this
Wait a minute. Scratch that. It might be a greater trick from the gov. to truly enslave you as you actually sign yourself over as 'security' for the debt. Not sure. i need to look into it more deeply cuz it's just too easy. I know a lot of people are going this route but I think we need to tread very carefully and realize what it is we may potentially be signing away. No such thing as a free lunch. Personally, I prefer the whole Freeman on the Land Sovereignty movement which is a pure approach.
@becvictoria , wait, the second dip is about to happen. The treasuries are starting to not look so good. High rates on the way. This is where it really gets going. Keep your cash ready to buy cheap in a couple years.
most of these homes are in palmdale, lancaster, and victorville. the cities in SoCal that NOBODY wants. The rest of SoCal is doing OK. I live in LA guys!!
George, isn't this exactly what happened in the last Great Depression? The farms, the factories, the houses that went into foreclosure were all scooped up by the banks for pennies on the dollar. Basically it was just a massive transfer of wealth from the poor and middle class to the rich and super rich. Same thing is happening today. The Fed is buying all these MBSs but who is the Fed after all? A consortium of the world's largest private banks. So there you go...
Great job. Have been watching your videos for a while and think you are going a good job documenting the real estate crash in California. It is so sad to see all the abandoned, new homes. We left SW Florida for just this reason. Keep up the good work!
@@@@ George This video of yours only goes to prove what Martin D Weiss was trying to to say in his bok called " The Great Depression Surivial Guide ". Too easy credit is one of the main reasons why this US economy going through severe contractions. Anyone out here has read the book I am talking about ?
Credit rating is overestimated. If ppl would live within their means they wouldn't need credit. And in this depression millions are going to lose their good rating, it's not just a few unfortunates, it is and will continue to be a tsunami of defaults so scrificing essentials to maintain cradit rating is unwise.
Also, in the construction boom building standards were sacrificed and lots of good looking houses have shoddy construction and are not a good investment.
its simple stuff that any person can do the research on the economics and world treaties '
anbody can watch bites on tv ' lots of people on the web do some great research into vast subjects little known and largely known which spark great banter and more research light on these subjects ' you might not agree with it all but if it sparks true thought ' you take it from there ' a minute bite on tv just dosent cut it '
as credit scores drop, there goes the pool of qualified buyers for your home once you buy it. if you paid all cash for a home today, you lose almost 20% or more immediately; and there are far less people to buy these homes once you want (or need) to sell. not to mention the post default risks, and the liability and exposure to having that property taken away in ajudgement. just not worth having exposure to immovable assets now.
George. What college did you graduate from? What was your major? Sounds like you're trying to lift dialogue from Peter Schiff, but you're stuttering like crazy. I'm not taking any advice from an ugly looking dude w/ a lispe and who works w/ Ledbed. Economics is not your bag. For professional economists, go to: Peter Schiff, Marc Faber, Jim Rogers. They're so smart, they're always giving lectures or being interviewed on TV. Hell, even visionvictory gave a lecture.
theres plenty of educated fools telling us a recovery is on the way. listen to the street; not college graduates. read btwn the lines- consider all the negatives with housing: unemployment, liquidity, liabilites, taxes, exposure.probably the DUMBEST place to put your money is housing now. also; have you ever driven cross country>? its all land. land-land land, vacant land is everywhere. real estate is a ponzi scheme in and of itself. the more people realize this, the more pressure on housing.
I do see alot of houses for sale locally, but I don't see massive amounts of new houses that never had buyers. Is this just in CA??? That tells me there was a huge scam that brewed in CA, and now the rest of the country is paying for it. Borrowing here in the midwest was never that easy. They say CA is like the worlds 3rd largest economy. IDK something sounds fishy out there.
All this is happening and the American people are further insulted by Fed chief Bernanke being named man of the year. BWAAHAHAHAHA He's someones man of the year but not the peoples yet most sheep will just lap it up and go along with it and keep playing there game of destruction, buy a lot of nice made in China crap this x-mas did we. Just keep running around ridiculing and yelling freakin conspiracy nut jobs to those trying to help there pathetic asses, some theory seems pretty much reality.
"Conspiracy theories eventually turn into conspiracy facts"
When I heard that bullshit about Bernanke being named TIME Mag P.OT.Y., the first thing i did was buy more gold & silver. Shits about to hit the fan real fuckin fast and the majority of my fellow Americans dont even see it coming.
Sad but true King D this could of all been prevented but the majority sat quiet and ridiculed the likes of Ross Perot and Ron Paul they just can't face the truth I guess it's easier to live the reality of the truth that was told and still they won't listen. If history repeats itself gold will be confiscated. Hell they've stolen everything else. Yes it's going to get worse and its coming fast. Commercial real estate, no recovery, Codex Alimentarius Dec.31 09 no nutrition in every morsel of food.
We are a consumer nation, not an industrial nation. LOL. And, we did by a lot of gifts for our 3yr old daughter.
There is no extreme profit margin if products were made in the U.S.
I am a REALTOR in SoCal. and there are 10s of thousands of foreclosed homes that are vacant. But can be placed on the market, because they will flood the market and bring the value of homes further down. And that just hurts home owners that have a bit of equity in their home.
@PomonianLiving Globalization and free trade is the cause of all this, the US should only import what it can't produce on it's own. Yes prices will be higher, but what goes around comes around in the way of wages. Companies that thrived in the US should be charged a HUGE transfer tax for moving operations out of the US, and should not be allowed to import the cheap goods back so they can "use" our good consumer market. Anything else is economic disaster and a lowering of living standards.
I used to work for a Fortune 400 company that ranked in the 370's. They used to produce some products in the U.S. and ultimately outsourced all of its products overseas. I was in charge of 5 warehouses with products that cost $17 to make and sold at reatail at $250+. The management started to treat workers as #'s. Got tired of that n' resigned.
It's a rich mans game, The Great U.S. of A. is actually a consumer and service nation (fast food workers, Wal-M*rt, department store clerks, ect.)
You sir are a victim in this globalization scheme, it trully is the elite again'st not just the middle class but even semi successful people. Workers and employees have been sold out by corporations and government alike. Exploitation is coming in a more extreme form I believe from both corporation and gov't. They need us on our knees first.
Well I hope your 3 yr old doesn't get lead poisoning. We where a industrial nation now it's all been pissed away for a greedy few. Homes prices were artificially inflated on purpose to get the result we have now. 10's of thousands of vacant homes and twice as many living in tents. I feel sorry for your 3 yr old unfortunately she will be a slave of the few greedy. Equity, when the banks demand payment in full you won't have a home let alone equity. That's what sleeping with communist gives you.
It's all about greater education, we need to encourage our children to go to school. Save for their college tuition or have them tutored for they can keep a high grade point average and get a Grant to continue their greater education.
Ignorance come from low income environments and can't be fixed because there is not enough money to keep good teachers in bad neighborhoods or even to hire more teachers to focus on slow students. Maybe it's planed to keep a large supply of sheeple.
Don't need a education to work at Walmart or to flip burgers. The most important education everyone needs right now is knowledge about whats coming down the pike and how to survive and change it if possible. We stand against slavery and oppression, B.S we love it and embrace it at our own peril, we support it fully every time we by goods made in China. Our children will grow up under communism if something doesn't change soon. Yes I agree, now we are a consumer nation, how long will that last?
Whats planned to keep a large supply of sheeple is the fluoride there poisoning us with. Fluoride never did fight cavity's, it was never safe for human consumption and it was always known what damage it does to the brain. Mercury isn't good for us either but the schools tell the children different. Teach the ABC's & 123's not singing pledges to the president. Especially one that hangs a Mao ball on his Christmas tree. We've been sound asleep dreaming and it's time to wake up.
I agree its about greater education, but I'm afraid we don't agree on what kind of education. Certainly not university education because univesities educations are part of the problem. All that is is more b s to keep people in debt and still in dead end jobs. We need street smart education; intensive courses on how to survive the real world, how to say no to our own spending & no to our government spending; how to earn more, invest better & stick together against the institution.
America makes me laugh like crazy. "The land of the free and home of the brave" hahahahaahaa More like the land of the fat fuckersa and home of the jewish-run masses of sheeple. No wonder you are losing your homes, dear idiots; the jews from the federal reserve have used you and YOUR GREED and made you play into their games, you hoping to get richer and richer. By the time they are done with you sheeps, you'll be back to square one-money taken and sleeping on the streets! hahahahaa DUMB NATION!
and your greed? Didnt your country build the factories that gave the much needed jobs to YOUR countrymen so they could sell to the U.S? We are all inter connected fool. If we go down..you go down first! Better hope we recover...(but we won't) and prepare for the coming depression
No, retard! Romania's exports are going primarely to Europe, China is selling shit to the USA. We don't base our economy on exports to the USA. Oh my god , are you americans really stupid or what? You really believe that the world exists because of you? hahahaha Dumb fools!
The products (loan programs) were created by possibly 25 to 35 year olds in Wall Street district and pushed through lenders and brokers. The products were called Exotic Loans. Didn't check or verify income statements, if you had a heart beat you could buy a house..The News media and direct lenders and brokers pushed and skewed loans to get approved. It's a damn shame that the Gov bailed out the banks. The Gov can't get involved in bad business decisions but it did.
To me all these homes, even if priced at 1 dollar are worthless. The reason is very simple, even if you buy the thing you do not own it, and because of massive government debt, property taxes (rent) is going up across the board. The passing on the health care is a harbinger of things to come folks, government is going to raise your taxes very very high. They'll see you with a house and will go hmm, there's a sucka that has money, let's hold his house hostage!
I'm afraid you are totally right. These lying filthy theiving corrupt leaches have no bottom to their greed and thirst for control. They will keep up with their program until we the host dies from blood loss or we scrape them off our backs.
I have thoroughly enjoyed all of your videos. It is obvious you are a very astute young man. I live in 'small town' Texas. I built my own house with my own two hands, raise fruits and veggies, chickens and hogs. Unfortunately you are right and so is Marc Faber and Jim Rogers. Keep up the good work. I just wish I knew more about computers so I could download this things to DVD and give to people to watch. If you know how let me know.
just be glad we are forwarned. At least some of us can prepare for whats about to happen. The rest of the countyr is going to look like those roof top idiots after Katrina
I live in a "McMansion" neighborhood and only a handful of us actually made enough money to afford to live where we do. We had a problem with green swimming pools all summer and the misquito problem was terrible.
The neighborhood was full of working class people that had NO business buying such expensive homes. One family bought a $425,000 house accross the street from me and it was foreclosed on 4 months after moving in. They never made a payment.
interesting. Did you and your neighbors get together and poor bleach in the abandoned swimming pools? If you didnt, think next year you will? No point in waiting for the government to do it
Man you look like you real stressed out i fell you. Thanks to the info you put out my girl was going to buy her first house before i showed her the dollar bubble. Now she will hold off intel the market bottoms out. Thanks George god bless
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After looking at some of your videos and reading some comments it's amazing to me that you don't understand that what you are seeing happening in the world is the end of esau's blessing (the white man's time for rulership of the earth) is ending. Gen 27 39 40. And the house of israel's (people of so called negro(not african)native american indian and latino descent to return to rulership FOREVER!!
you have a manufactured Boom/Bust in order for the Money/Paper exchangers to Legally steal people's Equity...that's the real problem...MERS has NO standing in Court to act as Nominee in Foreclosure...
Don't get foreclosed on people, and learn how to grow your own food!!
You do realize that this country was founded on land/ home ownership schemes. I would hazard to guess that you can't go twenty years without finding some con/ scheme in which Average Americans lost their savings and Wall Street inevitably got rich off of.
Granted Calif and other states inflated their housing prices out of sight during the boom because of a lot of speculations (house flippers). but as far as I'm concerned California housing has always been over priced because of prop 13. The wages don't support the cost of housing and haven't for many, many years.
Try to explain this to my disabled friend in LA who inherited a lot and paid a lot for his condo. He still thinks he's okay and that he's going to be okay. He's physically fine, but mentally so-so. Of course, I tried to sell him a good disability income insurance policy 20 years ago, and he screamed me down. He thinks things will be okay, that his payments will still come, that he can still afford food.
Because Calif wages are so low compared to the cost of living there, the different waves of "system" abuse happens over and over, driving people to be on the disability rolls. I was there during the carpel tunnel wave, the alcoholic/drug addiction wave and now it's all about some mental disorder, rendering a person unable to work. Calif it self is to blame for going broke. Get rich quick or find someway to become totally disabled is the games played there.
Of course, it makes me angry and a bit jealous, cuz I am disabled and still haven't been able to get U.S. disability, which I paid into for 25 years. He's quite able to work, he's just not happy.
Oh yea, the old Prozac "I'm depressed" or "I'm bi-polar" deal. I forgot that's the most used excuse in the country now. I do feel your pain. My brother should have been classified totally disabled years ago but was denied over and over. Yet his wife got on the disabled bandwagon during the "OH MY BACK" wave and has been living on her ass ever since. While running a 'at home" nail business from their spare room..good life hu? That's Cally for ya.
On a housing affordability study I read recently, Sydney came out worse, followed by the UK, then Cali. There are still a lot of people here in the UK that think house prices are going to rise again, I think not.
i totally agree with you! they are trying to blow the bubble up again,but the problem is no 1 can afford the prices and are stretching themselves in their finances just to get on the market! crazy!
dont get into cash, soon it wont buy you anything, it would be worth anything. get into hard assets. Food, protection, solar power. Things that last, and sustain you.
forget about credit...get as much cash as you can...hint hint....interests rates will be so high in 24 months along with less credit....build up cash....bankrupt and increase foreign investments in retirement accounts.
problem is your in calif. fl. or az. places people paid 2-3x what the houses were worth....george you need get outta there it going to like a war zone soon....
GEORGE: It's too bad they cannot find a way to help all the homeless people and take care of this house problem, at the same time HOW IRONIC, URGHHHHHHHHH
I wonder what's going to happen once the "free" health care taxes also come into place. I'm telling you, it will be the proverbial straw that breaks the camel's back.
I've also read that some creditors aren't doing anything when people are defaulting on their credit cards. In fact, on credit reports, some people who have stopped paying their cards read that the creditors have reported that they are still paying. I thought this was illegal, but makes me wonder why creditors are doing this.
i do not know why, but i can not play this video either on Firefox or Google Chrome. I was able to d/l and watch it. Other videos work fine on here and for some reasons, this one did not.
Great video. You are right about how it can go down more. The houses that are going to do maintain value are the ones that have some sort of productivity. Ones that can work within' gardens or any type of manufacturing
george id really like you to do a video on your relation to jon ledbed... I have been watching your videos for awhile and believe what you say. You seem like an honest man so why wouldnt you explain this to your subscribers?
here in north texas, my neighbors mostly come from the middle east, india, pakistan...they're teachers, business owners, professionals, etc. the home prices are very stable, in the $250k-$550k range, depending on the builder and features. only seen one foreclosure eviction in the 9 years we've been here, but i know several that are now far behind on their mortgage. the dam is ready to burst.
if you want to know your neighbor's financial situation just look at the garbage he puts out to the street. if its little wal-mart bags (no appliance boxes) he'll be out on the curb soon.
you are up when you get your money for it. Good luck,I hope it works out, but billions are being spent artificially propping up housing prices. The bottom has not been reached.
no i know im up same house as mine just sold and it sold 74 thousand more than what i paid back in april 2007, im in the hottest market in canada, we are still booming
u have to do your homework, alot of money can be made...
solo, sell it while you can. The situation will not last much longer. Housing is crashing. The government is propping up prices by flooding the market with fiat money.
solojam, It seems that you know the market where you live well. Hopefully your sense of timing works out. I do not have the nerve for that type of wheeling and dealing. Good luck.
in my area we didnt go down much but we havent went up in a year in a half, we have been stagnant for year and half but things are selling very quickly, i made the bulk of my money because i bought it from the builder very cheap
tell that to the people in Detroit that buy houses for 100 bucks.. It can go lower...a lot lower depending on the area and the amount of Gangs that roam the streets
George, that is a very small segment in the valley. Look up Jim the Realtor videos. Homes are selling for more than list. Guess you didn't want to show those homes.
I watch and read Jim's stuff, regularly. I view those sales as transient. The majority of ARMs have yet to recast (~78%). California possesses 50% of the nationwide dollar-value of ARMs. Dr. Housinig Bubble had a great post on the stats in November, but he regularly reminds us about the next implosion that has only just begun.
The ridiculously inflated prices of houses will come back down, as much as the government (the primary market maker for housing) wants to prevent it.
One of the very best housing markets in the entire United States (according to several real estate brokers that I have spoken to) is right here in Corpus Christi, TX BUT the problem is that there are absolutely NO jobs that would support buying a home here! So many great properties standing open for a year or even more with prices slashed to unbelievable lows, but they won't be sold unless someone has already stashed away a few hundred thousand.
Well said. I am in Austin and am seeing more houses for sale that ever before. The city seems to be holding prices level for tax purposes, and prices are very high for current conditions. I'm not seeing jobs here either, but everything sure looks normal here.
There are houses in Detroit that are on the market for $1.00 that's not even a bottom price. I've heard of banks willing to let the property go for free if you'll pay the back taxes.
I spoke with a young punk banker at Chase Bank to day, he knows much about the banking scandal but laughed when he told me Chase took their billions stolen from us and bought up smaller banks.
I live near New Orleans. I am looking for a place north with some acreage so I can have a garden, chickens, rabbits, etc. and put in an outhouse etc. so I can get out of this crime ridden corruption infested shithole. You dont want to get caught stuck in the city.
1 million foreclosures in U.S. market right now. 1.7 million more in the process of going into foreclosure. Lenders modified 31,382 loans out of 4 million request. that comes to less than 1/12 of 1%. Government program has helped 7150 out of 650,00. Foreclosures are up 22% from last year. averaging 60,000 a month.
My house went to auction last week & didn't sell for the minimum bid of 40k. Too many in Phoenix.
My own home in South Florida has seen it's market value drop from $175000 in 2006 to 50-60K today. I bought in 1988 at 54.9K. There are LOTS of homes down here with upside down loans.
@jfehle South Florida doesn't have a sufficient job market of professional positions to support the mid-2000's prices you are speaking of. When was the last time you heard of anyone in Tallahassee recruiting a Fortune 500 HQ or some serious manufacturing to the state. A few Bio-tech jobs in Jupiter isn't going to cut it.
@Samurai: You are right about the game being over today.... but when companies like Toyota, BMW, Hyundai and VW were building auto plants throughout the south; Florida never seemed to throw their hat in the ring. the people down here are very anti-growth and only tolerate tourism because it helps pay the taxes. We should be the manufacturing hub to the Caribbean and Latin America if you really consider the huge potential demand that remains untapped. Oh well . . .
Put empty homes to use in the last days. Many homeless families the states would appeciate a roof over their heads even if it has no heat or electric. It will protect them from the elements.God would also appreciate it.Matt.25For I was an hungred, and ye gavememeat: I was thirsty, and ye gave me drink: I was a stranger, and ye took me inAnd the King shall answer and say to them, I say unto you, Inas much as ye have done it unto one of the least of these my brethren, ye have done it unto me.
We have to expect mass american diaspora in Canada. Its freekin cold right now but there is plenty of room. As long as its no North American Union , bienvenu / welcome...Have a brewski !
KJV James 6] Ye have condemned and killed the just; and he doth not resist you.
[7] Be patient therefore, brethren, unto the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth, and hath long patience for it, until he receive the early and latter rain.
[8] Be ye also patient; stablish your hearts: for the coming of the Lord draweth nigh.[9] Grudge not one against another, brethren, lest ye be condemned: behold, the judge standeth before the door.
KJV James[4] Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth. [5] Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter.
Jas.5 1] KING JAMES VERSIONGo to now, ye rich men, weep and howl for your miseries that shall come upon you.[2] Your riches are corrupted, and your garments are motheaten.3] Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
I agree there's room for opportunity here. In my location, homes similar to my own now carry a foreclosure price of as low as 40% against what I paid, and I didn't buy at a peak.
There's a lot of room for falling prices. Just sit back, lick your chops, and wait for the opportunity. This falling knife still has further to go. Just don't do anything silly and try to catch it on it's way down.
Most of those empty homes are more then likely owned by the US government threw the GSE"s or the FED, A lot of the ones owned by banks have people living in them that haven't made a payment in over a year, If they foreclose then they have to take to loss and our government in all it's corrupt wisdom has thrown a ton of money at the homebuilders adding even more supply to a saturated market, When the bond market blows and rates go up that is when the real pain will be felt as prices collapse.
Good message. Let your credit ranking tank. Better to have food in the house than a good credit rating. Everybody's credit is tanking anyway, so it's pretty stupid to put a rating before the things that really matter.
The main things to remember is that money the bank lent one to buy that overpriced home never existed until the papers were signed, the banks did nothing to earn the money they lent and didn't have it to lend as the money came out of thin air. Checking with an attorney would be advisable before walking away however and verify that the loan is non recourse.
Businesses walk away all the time individuals should be no different. Me.inc is the name of the game.
Mortgage or car payment?...I say car payment because you will always need transportation and it probably much slower than a house nowadays (lol)....Screw making payments on a depreciating asset like a house which has become a luxury and not an investment.
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Keep up the good video work looking good. When you have time come visit my channel!
850Nexus 9 months ago
when ancient civilisations collasped the residents during these times of collapse were unable to grasp where they were in the stream of time ? the majority today are unable to grasp the world has reached a pinacle of wickedness ? the economy has been the uniting factor of the world ? gone our civilisation collapses !
spectre1929 2 years ago
Sell the houses for dirt cheap, let prices fall back to Earth. Stop trying to keep people in homes they can't afford. Undo everything that the bubble did. If that means you get wiped out because you bought during the bubble, sorry, you're a dumbass. Easiest bubble ever seen.
stinkypoon 2 years ago 2
Yes..., letting home prices fall should hurt speculators, people who plan on staying in their homes, and building their communities would not be affected by home price decrease.
danpt2000 1 year ago
buildum' for 50k, sell them for 500k. give your $ to haiti. fuck everything
oaklandraider81 2 years ago
Rather than these houses sitting there empty... They should sell them for what folks can afford...and not how much they can borrow.
damnright4 2 years ago 3
1-Listing inventory shrinks & fewer sale signs?
2-Mass Media spurs talk of a bottom
3-Volume picks up
4-People are less fearful of the market.
5-People talk about investing in real estate
6-Increasing calls to realty offices on listings
7-The Fed finishes tinkering with interest rates
8-People talk about the bottom like its a thing of the past
9-Prices seem to stop dropping.
10-Financing becomes easier
repo4sale 2 years ago
Credit won't matter in the near future. Credit ratings will mean nothing. It will be back to the good old system of do you have a downpayment or collateral? Then you get a loan if you want at 15%+. The whole credit rating system is a major part of the problem.
Mr7laws 2 years ago
Wonderful wizard of ozama keeps talking about green shoots.
o3mandotcom 2 years ago
Check-out >> Bob Chapman 2035 Banks
JimboJammer1 2 years ago
in socialist america, money grows on trees in china.
cvcdgftr7676545 2 years ago
This is that same dude from that stupid "george goes to Detroit" video... he's an idiot
lawsonrw 2 years ago
if you listened to the media - we are all good - PS do not look out the window when Rome is burning ;)
JimGraham1973 2 years ago
Want to protect your credit rating and write off your debts like the big guys? File your UCC and set yourself up as a secured creditor. Check out Duranna here at youtube. She knows how it works pretty well. She's flying high on this new knowledge that is growing like wildfire---understandably. She filed her UCC online and within minutes her credit is wide open again. You can do self for free or she will do for you for $50. I think you can even write off school loans with this
Peace out all.
quantumsolutions 2 years ago
Wait a minute. Scratch that. It might be a greater trick from the gov. to truly enslave you as you actually sign yourself over as 'security' for the debt. Not sure. i need to look into it more deeply cuz it's just too easy. I know a lot of people are going this route but I think we need to tread very carefully and realize what it is we may potentially be signing away. No such thing as a free lunch. Personally, I prefer the whole Freeman on the Land Sovereignty movement which is a pure approach.
quantumsolutions 2 years ago
@quantumsolutions oops. that was supposed to be Druanna.
quantumsolutions 2 years ago
can you tell me where can I find duranna web page
ycformosa 2 years ago
im 21 and my hubby 25 and that what i scared of he want buy now i want wait
becvictoria 2 years ago
@becvictoria , wait, the second dip is about to happen. The treasuries are starting to not look so good. High rates on the way. This is where it really gets going. Keep your cash ready to buy cheap in a couple years.
Mr7laws 2 years ago 2
most of these homes are in palmdale, lancaster, and victorville. the cities in SoCal that NOBODY wants. The rest of SoCal is doing OK. I live in LA guys!!
yourfuturebooks 2 years ago
George/could you please annouce exact locations where these homes exist. Thx
864first 2 years ago
George, isn't this exactly what happened in the last Great Depression? The farms, the factories, the houses that went into foreclosure were all scooped up by the banks for pennies on the dollar. Basically it was just a massive transfer of wealth from the poor and middle class to the rich and super rich. Same thing is happening today. The Fed is buying all these MBSs but who is the Fed after all? A consortium of the world's largest private banks. So there you go...
GoldenBoughTrader 2 years ago 3
Great job. Have been watching your videos for a while and think you are going a good job documenting the real estate crash in California. It is so sad to see all the abandoned, new homes. We left SW Florida for just this reason. Keep up the good work!
BSGarrison 2 years ago
Okay, that's just fucked up.
You'd think people would notice when their cities turned into literal ghost towns?..
SexyMelon 2 years ago 2
@@@@ George This video of yours only goes to prove what Martin D Weiss was trying to to say in his bok called " The Great Depression Surivial Guide ". Too easy credit is one of the main reasons why this US economy going through severe contractions. Anyone out here has read the book I am talking about ?
albc1964 2 years ago 2
You spell tsunami with an 's', not a 'z', btw.
lordoftheinternets 2 years ago
Credit rating is overestimated. If ppl would live within their means they wouldn't need credit. And in this depression millions are going to lose their good rating, it's not just a few unfortunates, it is and will continue to be a tsunami of defaults so scrificing essentials to maintain cradit rating is unwise.
Also, in the construction boom building standards were sacrificed and lots of good looking houses have shoddy construction and are not a good investment.
Khamomil 2 years ago 4
good vid GEORGE '
its simple stuff that any person can do the research on the economics and world treaties '
anbody can watch bites on tv ' lots of people on the web do some great research into vast subjects little known and largely known which spark great banter and more research light on these subjects ' you might not agree with it all but if it sparks true thought ' you take it from there ' a minute bite on tv just dosent cut it '
thanks for putting it out there '
craig
CRAIGVY 2 years ago 3
Nice in HD now.
meshblorg 2 years ago
great point on the credit protectionism. i was in that predicament over a year ago. guess what will inevitably give way?
lemme give a clue: the credit score is what people will give up.
GovWillKillU 2 years ago
as credit scores drop, there goes the pool of qualified buyers for your home once you buy it. if you paid all cash for a home today, you lose almost 20% or more immediately; and there are far less people to buy these homes once you want (or need) to sell. not to mention the post default risks, and the liability and exposure to having that property taken away in ajudgement. just not worth having exposure to immovable assets now.
GovWillKillU 2 years ago
George. What college did you graduate from? What was your major? Sounds like you're trying to lift dialogue from Peter Schiff, but you're stuttering like crazy. I'm not taking any advice from an ugly looking dude w/ a lispe and who works w/ Ledbed. Economics is not your bag. For professional economists, go to: Peter Schiff, Marc Faber, Jim Rogers. They're so smart, they're always giving lectures or being interviewed on TV. Hell, even visionvictory gave a lecture.
BigBlackBananaBoat 2 years ago
theres plenty of educated fools telling us a recovery is on the way. listen to the street; not college graduates. read btwn the lines- consider all the negatives with housing: unemployment, liquidity, liabilites, taxes, exposure.probably the DUMBEST place to put your money is housing now. also; have you ever driven cross country>? its all land. land-land land, vacant land is everywhere. real estate is a ponzi scheme in and of itself. the more people realize this, the more pressure on housing.
GovWillKillU 2 years ago 2
I do see alot of houses for sale locally, but I don't see massive amounts of new houses that never had buyers. Is this just in CA??? That tells me there was a huge scam that brewed in CA, and now the rest of the country is paying for it. Borrowing here in the midwest was never that easy. They say CA is like the worlds 3rd largest economy. IDK something sounds fishy out there.
surviveTHEtimes 2 years ago
RIP USA....
hilololomoa 2 years ago 3
All this is happening and the American people are further insulted by Fed chief Bernanke being named man of the year. BWAAHAHAHAHA He's someones man of the year but not the peoples yet most sheep will just lap it up and go along with it and keep playing there game of destruction, buy a lot of nice made in China crap this x-mas did we. Just keep running around ridiculing and yelling freakin conspiracy nut jobs to those trying to help there pathetic asses, some theory seems pretty much reality.
evoval 2 years ago 5
LMFAOOO...Max Keiser said it best:
"Conspiracy theories eventually turn into conspiracy facts"
When I heard that bullshit about Bernanke being named TIME Mag P.OT.Y., the first thing i did was buy more gold & silver. Shits about to hit the fan real fuckin fast and the majority of my fellow Americans dont even see it coming.
KingDrudge 2 years ago 5
Sad but true King D this could of all been prevented but the majority sat quiet and ridiculed the likes of Ross Perot and Ron Paul they just can't face the truth I guess it's easier to live the reality of the truth that was told and still they won't listen. If history repeats itself gold will be confiscated. Hell they've stolen everything else. Yes it's going to get worse and its coming fast. Commercial real estate, no recovery, Codex Alimentarius Dec.31 09 no nutrition in every morsel of food.
evoval 2 years ago
@evoval
We are a consumer nation, not an industrial nation. LOL. And, we did by a lot of gifts for our 3yr old daughter.
There is no extreme profit margin if products were made in the U.S.
I am a REALTOR in SoCal. and there are 10s of thousands of foreclosed homes that are vacant. But can be placed on the market, because they will flood the market and bring the value of homes further down. And that just hurts home owners that have a bit of equity in their home.
PomonianLiving 2 years ago
@PomonianLiving Globalization and free trade is the cause of all this, the US should only import what it can't produce on it's own. Yes prices will be higher, but what goes around comes around in the way of wages. Companies that thrived in the US should be charged a HUGE transfer tax for moving operations out of the US, and should not be allowed to import the cheap goods back so they can "use" our good consumer market. Anything else is economic disaster and a lowering of living standards.
Dean0000007 2 years ago 3
I used to work for a Fortune 400 company that ranked in the 370's. They used to produce some products in the U.S. and ultimately outsourced all of its products overseas. I was in charge of 5 warehouses with products that cost $17 to make and sold at reatail at $250+. The management started to treat workers as #'s. Got tired of that n' resigned.
It's a rich mans game, The Great U.S. of A. is actually a consumer and service nation (fast food workers, Wal-M*rt, department store clerks, ect.)
PomonianLiving 2 years ago
You sir are a victim in this globalization scheme, it trully is the elite again'st not just the middle class but even semi successful people. Workers and employees have been sold out by corporations and government alike. Exploitation is coming in a more extreme form I believe from both corporation and gov't. They need us on our knees first.
Dean0000007 2 years ago 2
So true.
PomonianLiving 2 years ago
Well I hope your 3 yr old doesn't get lead poisoning. We where a industrial nation now it's all been pissed away for a greedy few. Homes prices were artificially inflated on purpose to get the result we have now. 10's of thousands of vacant homes and twice as many living in tents. I feel sorry for your 3 yr old unfortunately she will be a slave of the few greedy. Equity, when the banks demand payment in full you won't have a home let alone equity. That's what sleeping with communist gives you.
evoval 2 years ago 2
It's all about greater education, we need to encourage our children to go to school. Save for their college tuition or have them tutored for they can keep a high grade point average and get a Grant to continue their greater education.
Ignorance come from low income environments and can't be fixed because there is not enough money to keep good teachers in bad neighborhoods or even to hire more teachers to focus on slow students. Maybe it's planed to keep a large supply of sheeple.
PomonianLiving 2 years ago
Don't need a education to work at Walmart or to flip burgers. The most important education everyone needs right now is knowledge about whats coming down the pike and how to survive and change it if possible. We stand against slavery and oppression, B.S we love it and embrace it at our own peril, we support it fully every time we by goods made in China. Our children will grow up under communism if something doesn't change soon. Yes I agree, now we are a consumer nation, how long will that last?
evoval 2 years ago 4
Whats planned to keep a large supply of sheeple is the fluoride there poisoning us with. Fluoride never did fight cavity's, it was never safe for human consumption and it was always known what damage it does to the brain. Mercury isn't good for us either but the schools tell the children different. Teach the ABC's & 123's not singing pledges to the president. Especially one that hangs a Mao ball on his Christmas tree. We've been sound asleep dreaming and it's time to wake up.
evoval 2 years ago
I agree its about greater education, but I'm afraid we don't agree on what kind of education. Certainly not university education because univesities educations are part of the problem. All that is is more b s to keep people in debt and still in dead end jobs. We need street smart education; intensive courses on how to survive the real world, how to say no to our own spending & no to our government spending; how to earn more, invest better & stick together against the institution.
menderfire9 2 years ago
This is basically Jesuit roman Vatican take over. We are already under roman Law! This is New world Order! all roads are going back to Rome!
mattandpatti222 2 years ago
Yeaaa Thay have to escape before 2012.
itti1977 2 years ago
Right on the money! Keep up the good work sir.
soundzero 2 years ago
America makes me laugh like crazy. "The land of the free and home of the brave" hahahahaahaa More like the land of the fat fuckersa and home of the jewish-run masses of sheeple. No wonder you are losing your homes, dear idiots; the jews from the federal reserve have used you and YOUR GREED and made you play into their games, you hoping to get richer and richer. By the time they are done with you sheeps, you'll be back to square one-money taken and sleeping on the streets! hahahahaa DUMB NATION!
sharkloaner 2 years ago
and your greed? Didnt your country build the factories that gave the much needed jobs to YOUR countrymen so they could sell to the U.S? We are all inter connected fool. If we go down..you go down first! Better hope we recover...(but we won't) and prepare for the coming depression
sabrinacle 2 years ago
No, retard! Romania's exports are going primarely to Europe, China is selling shit to the USA. We don't base our economy on exports to the USA. Oh my god , are you americans really stupid or what? You really believe that the world exists because of you? hahahaha Dumb fools!
sharkloaner 2 years ago
It's Wall Street Greed.
The products (loan programs) were created by possibly 25 to 35 year olds in Wall Street district and pushed through lenders and brokers. The products were called Exotic Loans. Didn't check or verify income statements, if you had a heart beat you could buy a house..The News media and direct lenders and brokers pushed and skewed loans to get approved. It's a damn shame that the Gov bailed out the banks. The Gov can't get involved in bad business decisions but it did.
PomonianLiving 2 years ago
To me all these homes, even if priced at 1 dollar are worthless. The reason is very simple, even if you buy the thing you do not own it, and because of massive government debt, property taxes (rent) is going up across the board. The passing on the health care is a harbinger of things to come folks, government is going to raise your taxes very very high. They'll see you with a house and will go hmm, there's a sucka that has money, let's hold his house hostage!
slinkycat321 2 years ago 2
I'm afraid you are totally right. These lying filthy theiving corrupt leaches have no bottom to their greed and thirst for control. They will keep up with their program until we the host dies from blood loss or we scrape them off our backs.
operator223 2 years ago 2
couldnt have said it any better....how is your Chinese?
KingDrudge 2 years ago
George,
I have thoroughly enjoyed all of your videos. It is obvious you are a very astute young man. I live in 'small town' Texas. I built my own house with my own two hands, raise fruits and veggies, chickens and hogs. Unfortunately you are right and so is Marc Faber and Jim Rogers. Keep up the good work. I just wish I knew more about computers so I could download this things to DVD and give to people to watch. If you know how let me know.
cyrusdhtexas 2 years ago 4
just be glad we are forwarned. At least some of us can prepare for whats about to happen. The rest of the countyr is going to look like those roof top idiots after Katrina
sabrinacle 2 years ago
Ahhh.... Grrrr.... more ..REO's ... lol
NYyankeeboi 2 years ago
I live in a "McMansion" neighborhood and only a handful of us actually made enough money to afford to live where we do. We had a problem with green swimming pools all summer and the misquito problem was terrible.
The neighborhood was full of working class people that had NO business buying such expensive homes. One family bought a $425,000 house accross the street from me and it was foreclosed on 4 months after moving in. They never made a payment.
What the hell??
MrQuestionAuthority 2 years ago 4
lolol, my grandma always says this is not the America she grew up in, your story just confirmed it for me.
KingDrudge 2 years ago 4
interesting. Did you and your neighbors get together and poor bleach in the abandoned swimming pools? If you didnt, think next year you will? No point in waiting for the government to do it
sabrinacle 2 years ago
Yes, we bought a dozen cases of bleach and took care of the problem.
MrQuestionAuthority 2 years ago
Merry Christmas man
Crazycardfreak 2 years ago
It's heartbreaking to know that all those potential housing is going to waste since our economy has been gutted...
Crazycardfreak 2 years ago
Happy Kwanzaa George
neanam 2 years ago
Merry Christmas George
catdog262 2 years ago
Man you look like you real stressed out i fell you. Thanks to the info you put out my girl was going to buy her first house before i showed her the dollar bubble. Now she will hold off intel the market bottoms out. Thanks George god bless
acechoice45 2 years ago
This comment has received too many negative votes show
After looking at some of your videos and reading some comments it's amazing to me that you don't understand that what you are seeing happening in the world is the end of esau's blessing (the white man's time for rulership of the earth) is ending. Gen 27 39 40. And the house of israel's (people of so called negro(not african)native american indian and latino descent to return to rulership FOREVER!!
tyuss3 2 years ago
Comment removed
SignatureMill 2 years ago
you have a manufactured Boom/Bust in order for the Money/Paper exchangers to Legally steal people's Equity...that's the real problem...MERS has NO standing in Court to act as Nominee in Foreclosure...
Don't get foreclosed on people, and learn how to grow your own food!!
impalapez 2 years ago
Fair Isaac is a joke. Just part of the control the masses plan.
Anothercoilgun 2 years ago
I still have a friend in LA who thinks he's fine. Finey-fine.
slobomotion 2 years ago
@slobomotion
he is fine....just as long as he owns gold & sliver and speaks Chinese, Korean, Japanese, or Arabic!!!!!
KingDrudge 2 years ago 7
You do realize that this country was founded on land/ home ownership schemes. I would hazard to guess that you can't go twenty years without finding some con/ scheme in which Average Americans lost their savings and Wall Street inevitably got rich off of.
TheTruePooka 2 years ago 4
Granted Calif and other states inflated their housing prices out of sight during the boom because of a lot of speculations (house flippers). but as far as I'm concerned California housing has always been over priced because of prop 13. The wages don't support the cost of housing and haven't for many, many years.
Boomer1949 2 years ago 2
Try to explain this to my disabled friend in LA who inherited a lot and paid a lot for his condo. He still thinks he's okay and that he's going to be okay. He's physically fine, but mentally so-so. Of course, I tried to sell him a good disability income insurance policy 20 years ago, and he screamed me down. He thinks things will be okay, that his payments will still come, that he can still afford food.
slobomotion 2 years ago
Because Calif wages are so low compared to the cost of living there, the different waves of "system" abuse happens over and over, driving people to be on the disability rolls. I was there during the carpel tunnel wave, the alcoholic/drug addiction wave and now it's all about some mental disorder, rendering a person unable to work. Calif it self is to blame for going broke. Get rich quick or find someway to become totally disabled is the games played there.
Boomer1949 2 years ago
Of course, it makes me angry and a bit jealous, cuz I am disabled and still haven't been able to get U.S. disability, which I paid into for 25 years. He's quite able to work, he's just not happy.
slobomotion 2 years ago
Oh yea, the old Prozac "I'm depressed" or "I'm bi-polar" deal. I forgot that's the most used excuse in the country now. I do feel your pain. My brother should have been classified totally disabled years ago but was denied over and over. Yet his wife got on the disabled bandwagon during the "OH MY BACK" wave and has been living on her ass ever since. While running a 'at home" nail business from their spare room..good life hu? That's Cally for ya.
Boomer1949 2 years ago
On a housing affordability study I read recently, Sydney came out worse, followed by the UK, then Cali. There are still a lot of people here in the UK that think house prices are going to rise again, I think not.
Straightsix76 2 years ago 2
i totally agree with you! they are trying to blow the bubble up again,but the problem is no 1 can afford the prices and are stretching themselves in their finances just to get on the market! crazy!
hicks076 2 years ago 2
I know, this is a pretty sad state of affairs. Needless to say all that money poured into housing would have better spent elsewhere.
chiyerano 2 years ago
dont get into cash, soon it wont buy you anything, it would be worth anything. get into hard assets. Food, protection, solar power. Things that last, and sustain you.
d3adp001 2 years ago 9
forget about credit...get as much cash as you can...hint hint....interests rates will be so high in 24 months along with less credit....build up cash....bankrupt and increase foreign investments in retirement accounts.
clev9980 2 years ago 3
wow the irony and hypocrisy of the situation is mind blowing throw the elite's out and start again
jizzleone1 2 years ago
@jizzleone1 "Elites"?
If you keep eating that party rhetoric, you'll be doing a good job of helping those who caused this problem to keep getting wealthy at your expense.
TheTruePooka 2 years ago
problem is your in calif. fl. or az. places people paid 2-3x what the houses were worth....george you need get outta there it going to like a war zone soon....
xFIRSTMERITx 2 years ago 4
GEORGE: It's too bad they cannot find a way to help all the homeless people and take care of this house problem, at the same time HOW IRONIC, URGHHHHHHHHH
SuperScreamingEagle 2 years ago
I wonder what's going to happen once the "free" health care taxes also come into place. I'm telling you, it will be the proverbial straw that breaks the camel's back.
iloveterriers 2 years ago 3
Comment removed
iloveterriers 2 years ago
I've also read that some creditors aren't doing anything when people are defaulting on their credit cards. In fact, on credit reports, some people who have stopped paying their cards read that the creditors have reported that they are still paying. I thought this was illegal, but makes me wonder why creditors are doing this.
iloveterriers 2 years ago
This doesn't surprise me seeing as how up to 90% of all credit reports are contain at least 1 error or some inaccurate information.
chiyerano 2 years ago
this is so when they do default when things are getting better they can attack your credit rateing for years to come and get there money back
i defaulted some credit cards
and they increased my credit and payed an extra 3 - 6 months my defaulted card then said i owed them that extra money to
so it took 7 years 6 months before it came off my credit report
its a scam servitude
credeit cards changed the rules and congres
went along with it
gbush2005 chnged bankruptcy laws
whydepresion
winner502 2 years ago
I want you to pay me to get your house George How much are you going to pay me ? lol
tuktukktotam 2 years ago
i do not know why, but i can not play this video either on Firefox or Google Chrome. I was able to d/l and watch it. Other videos work fine on here and for some reasons, this one did not.
Great video. You are right about how it can go down more. The houses that are going to do maintain value are the ones that have some sort of productivity. Ones that can work within' gardens or any type of manufacturing
endlessmountain 2 years ago
If you let the house go you will soon learn to live within your means cause you won't get a loan. You will have to buy a home on land contract.
plalelal 2 years ago
george id really like you to do a video on your relation to jon ledbed... I have been watching your videos for awhile and believe what you say. You seem like an honest man so why wouldnt you explain this to your subscribers?
OntologicalQuandary 2 years ago
here in north texas, my neighbors mostly come from the middle east, india, pakistan...they're teachers, business owners, professionals, etc. the home prices are very stable, in the $250k-$550k range, depending on the builder and features. only seen one foreclosure eviction in the 9 years we've been here, but i know several that are now far behind on their mortgage. the dam is ready to burst.
papaboule 2 years ago
if you want to know your neighbor's financial situation just look at the garbage he puts out to the street. if its little wal-mart bags (no appliance boxes) he'll be out on the curb soon.
papaboule 2 years ago
very good ....
BablyonsKing 2 years ago
Northern Cal should split from Southern Cal.
SatwaMan 2 years ago
I agree. Northern CA should split from Southern Ca. Most definitely.
iloveterriers 2 years ago
To the extent possible when it comes to your house make rational business decsisions not emotional ones.
In many cases the answer truly is to walk away. Do not make this a moral issue - the banks won't.
gwuengr2 2 years ago
I can't comment on youtube.
DrudgeReportUSA 2 years ago
testing
DrudgeReportUSA 2 years ago
credit is just a big f******scam
outlo 2 years ago
Not just 2007 or 2006 home buyers are upside down. Home owners that bought their homes back in 1999, 2000, 2001,2002,2003,2004 and 2005 as well
vsaldanas 2 years ago 2
huh im up over 50g's on my place i bought in 2007
solojam 2 years ago
you are up when you get your money for it. Good luck,I hope it works out, but billions are being spent artificially propping up housing prices. The bottom has not been reached.
marsbennett 2 years ago 3
no i know im up same house as mine just sold and it sold 74 thousand more than what i paid back in april 2007, im in the hottest market in canada, we are still booming
u have to do your homework, alot of money can be made...
solojam 2 years ago
@solojam so true
sewak4 2 years ago
solo, sell it while you can. The situation will not last much longer. Housing is crashing. The government is propping up prices by flooding the market with fiat money.
jimbobubbadj 2 years ago
im sellin it in a few months, houses in my area go in a week, its a 3 yr old house, bought it brand new
solojam 2 years ago
solojam, It seems that you know the market where you live well. Hopefully your sense of timing works out. I do not have the nerve for that type of wheeling and dealing. Good luck.
jimbobubbadj 2 years ago
thanks very much!
i didnt think i would be up this much, but the market has been very nice to me on this deal
solojam 2 years ago
Solo, Perhaps for now dude.
jimbobubbadj 2 years ago
in my area we didnt go down much but we havent went up in a year in a half, we have been stagnant for year and half but things are selling very quickly, i made the bulk of my money because i bought it from the builder very cheap
solojam 2 years ago
Homeowners and Bank Protection Act of 2007
freedomnow2012 2 years ago
What kind of car do you drive. I see the inside all the time but can't seem to figure out what kind it is.
audrapriscilla 2 years ago
George, have you heard of Home owners protection Act of 2007? I'll send you a link.
freedomnow2012 2 years ago
Thanks George , interesting video
MrArizonaGuy 2 years ago
lookin slick brother.
odin422 2 years ago
tell that to the people in Detroit that buy houses for 100 bucks.. It can go lower...a lot lower depending on the area and the amount of Gangs that roam the streets
aceyorba 2 years ago
George, that is a very small segment in the valley. Look up Jim the Realtor videos. Homes are selling for more than list. Guess you didn't want to show those homes.
U2ForNow 2 years ago
and im selling some bridges
and people are buying like carzy
lol
winner502 2 years ago
@U2ForNow,
I watch and read Jim's stuff, regularly. I view those sales as transient. The majority of ARMs have yet to recast (~78%). California possesses 50% of the nationwide dollar-value of ARMs. Dr. Housinig Bubble had a great post on the stats in November, but he regularly reminds us about the next implosion that has only just begun.
The ridiculously inflated prices of houses will come back down, as much as the government (the primary market maker for housing) wants to prevent it.
tyronebiggums3 2 years ago 2
Well said. My fear is that the collapse of such a large economy as California would probably bring down the other 49 states with it.
countryhorsefive 2 years ago 5
It was commonly said before the stock downturn that California is the 8th largest economy in the world.
operator223 2 years ago
One of the very best housing markets in the entire United States (according to several real estate brokers that I have spoken to) is right here in Corpus Christi, TX BUT the problem is that there are absolutely NO jobs that would support buying a home here! So many great properties standing open for a year or even more with prices slashed to unbelievable lows, but they won't be sold unless someone has already stashed away a few hundred thousand.
zestymike48 2 years ago
...and who has a few hundred thou?
Well said. I am in Austin and am seeing more houses for sale that ever before. The city seems to be holding prices level for tax purposes, and prices are very high for current conditions. I'm not seeing jobs here either, but everything sure looks normal here.
countryhorsefive 2 years ago
There are houses in Detroit that are on the market for $1.00 that's not even a bottom price. I've heard of banks willing to let the property go for free if you'll pay the back taxes.
oddfellowsbooks 2 years ago
I spoke with a young punk banker at Chase Bank to day, he knows much about the banking scandal but laughed when he told me Chase took their billions stolen from us and bought up smaller banks.
F Chase bank.
airborne373 2 years ago 6
I live near New Orleans. I am looking for a place north with some acreage so I can have a garden, chickens, rabbits, etc. and put in an outhouse etc. so I can get out of this crime ridden corruption infested shithole. You dont want to get caught stuck in the city.
operator223 2 years ago 3
housing in bubble areas are goners, but in major cities where the economy did not depend on a bubble is doing just fine.
mrzack888 2 years ago 2
George, find future George and see what 2011 will be like. Please find him again.
caganb 2 years ago 2
we need Future George again. He's a real man!
operator223 2 years ago
He is absolutely right!
freelancer657 2 years ago
And then the middle-class jobs will get killed and the middle-class will become poor too.
starlitopensky1 2 years ago 2
As a real estate trader friend of mine used to say
That's a good buy, good bye to your car, good bye to your house, good bye to your credit card, good bye to your credit rating.
carlfinkle 2 years ago 3
1 million foreclosures in U.S. market right now. 1.7 million more in the process of going into foreclosure. Lenders modified 31,382 loans out of 4 million request. that comes to less than 1/12 of 1%. Government program has helped 7150 out of 650,00. Foreclosures are up 22% from last year. averaging 60,000 a month.
My house went to auction last week & didn't sell for the minimum bid of 40k. Too many in Phoenix.
Banks new motto is "You bailed us out,
Now we throw you out.
Hang The Bastards.
nailerfx 2 years ago 9
Wow - Sorry to hear that.
Usury Bastards - Let's Pull their TARP handout and watch THEM land flat on their arses!
MzProgressive 2 years ago 3
i thhink all abnkers in wall street should go to jail and people at cnbc
kramer kudlow just to name a few
6 to 10 years sounds good
see kramer pick some stocks from the stockade
lol
mad money live from the saniterium
some guy dresses kudlow like goldie lox
and has him be his bch
winner502 2 years ago
what exact city is this in socal?
BadMonkeySyndrome 2 years ago
Back to basics. Good report.
noncompliant2 2 years ago 2
My own home in South Florida has seen it's market value drop from $175000 in 2006 to 50-60K today. I bought in 1988 at 54.9K. There are LOTS of homes down here with upside down loans.
jfehle 2 years ago
Wow Wow wubsy
neanam 2 years ago
@jfehle South Florida doesn't have a sufficient job market of professional positions to support the mid-2000's prices you are speaking of. When was the last time you heard of anyone in Tallahassee recruiting a Fortune 500 HQ or some serious manufacturing to the state. A few Bio-tech jobs in Jupiter isn't going to cut it.
ShakeitUp09 2 years ago
There is hardly any manufacturing anywhere period.
SamuraiCommando 2 years ago 4
@Samurai: You are right about the game being over today.... but when companies like Toyota, BMW, Hyundai and VW were building auto plants throughout the south; Florida never seemed to throw their hat in the ring. the people down here are very anti-growth and only tolerate tourism because it helps pay the taxes. We should be the manufacturing hub to the Caribbean and Latin America if you really consider the huge potential demand that remains untapped. Oh well . . .
ShakeitUp09 2 years ago 3
Interesting point. Well said.
countryhorsefive 2 years ago
Buffalo has a lot of manufacturing! We actually have barely been hit by the recession.
kja5 2 years ago
thats cause it has no growth in the first place
solojam 2 years ago
George, grab a new camera, 1080 rocks.
Love your work, make it better!
1776Reborn 2 years ago
Put empty homes to use in the last days. Many homeless families the states would appeciate a roof over their heads even if it has no heat or electric. It will protect them from the elements.God would also appreciate it.Matt.25For I was an hungred, and ye gavememeat: I was thirsty, and ye gave me drink: I was a stranger, and ye took me inAnd the King shall answer and say to them, I say unto you, Inas much as ye have done it unto one of the least of these my brethren, ye have done it unto me.
lorijeans59 2 years ago 2
We have to expect mass american diaspora in Canada. Its freekin cold right now but there is plenty of room. As long as its no North American Union , bienvenu / welcome...Have a brewski !
Lepiratepoulpe 2 years ago
hey Lepiratepoulpe, I'll take the brewski and the jointski.
UVpirate 2 years ago
@UVpirate
We got plenty..Cheers !
Lepiratepoulpe 2 years ago
Don't people need work permits to come up there.
iloveterriers 2 years ago
KJV James 6] Ye have condemned and killed the just; and he doth not resist you.
[7] Be patient therefore, brethren, unto the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth, and hath long patience for it, until he receive the early and latter rain.
[8] Be ye also patient; stablish your hearts: for the coming of the Lord draweth nigh.[9] Grudge not one against another, brethren, lest ye be condemned: behold, the judge standeth before the door.
lorijeans59 2 years ago
I'm waiting too.The housing market will be crushed due to the economy, Arm resets,and higher interest rates.
meikagirl 2 years ago
KJV James[4] Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth. [5] Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter.
lorijeans59 2 years ago
Jas.5 1] KING JAMES VERSIONGo to now, ye rich men, weep and howl for your miseries that shall come upon you.[2] Your riches are corrupted, and your garments are motheaten.3] Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
lorijeans59 2 years ago
@lorijeans59
No one wants to read from your book of superstitions.
zz773 2 years ago
I'm working on getting my guns and ammo set up. Shotguns shells , 357, 22's.
California is collapsing, for more and more of us.
redcat362 2 years ago 6
I agree there's room for opportunity here. In my location, homes similar to my own now carry a foreclosure price of as low as 40% against what I paid, and I didn't buy at a peak.
There's a lot of room for falling prices. Just sit back, lick your chops, and wait for the opportunity. This falling knife still has further to go. Just don't do anything silly and try to catch it on it's way down.
iammci 2 years ago 3
Most of those empty homes are more then likely owned by the US government threw the GSE"s or the FED, A lot of the ones owned by banks have people living in them that haven't made a payment in over a year, If they foreclose then they have to take to loss and our government in all it's corrupt wisdom has thrown a ton of money at the homebuilders adding even more supply to a saturated market, When the bond market blows and rates go up that is when the real pain will be felt as prices collapse.
UU361 2 years ago 2
Good message. Let your credit ranking tank. Better to have food in the house than a good credit rating. Everybody's credit is tanking anyway, so it's pretty stupid to put a rating before the things that really matter.
sweetelesue 2 years ago 8
The main things to remember is that money the bank lent one to buy that overpriced home never existed until the papers were signed, the banks did nothing to earn the money they lent and didn't have it to lend as the money came out of thin air. Checking with an attorney would be advisable before walking away however and verify that the loan is non recourse.
Businesses walk away all the time individuals should be no different. Me.inc is the name of the game.
UU361 2 years ago
Mortgage or car payment?...I say car payment because you will always need transportation and it probably much slower than a house nowadays (lol)....Screw making payments on a depreciating asset like a house which has become a luxury and not an investment.
chingon711 2 years ago 10
*it probably depreciates much slower* (a car)
chingon711 2 years ago