The Housing Collapse of 2010 Will Be Worse Than 2008

You have probably already seen this video, I just thought I'd put it up to remind anyone who is not sure about where we stand in the unwinding of the bubble that there is a lot more to come.

This is the fourth downturn I have seen in my lifetime and I can tell you there is no way this is over regardless of what the "experts" say. The same experts who told you that this time it's different.

As far as the rise in the Dow goes there is simply nothing to back up these prices the PE on the SP500 is greater than 100 an all time record. We are in the eye of the storm and there is a lot more to come.

Category:

News & Politics

Tags:

• 2010
• housing
• collapse
• alt
• alt-a
• subprime
• foreclosures
• Option
• Arms
• Dollar
• Stock
• Market
• Crash

[UFOSIG]

Why on earth repossess people if the properties are then going to remain unsold and languish empty, falling potentially into disrepair? How stupid! why not let the people stay in their homes and pay what they can afford, so the banks get some money and people keep their homes and taking the strain off the state housing projects, which are already heaving like our social housing schemes. The whole thing is absolutely crazy!

[carlfinkle]

Man Tells Bank To F*CK OFF - Bulldozes His Own House Rather Than Giving It Up

/watch?v=cMKIrjI3Ueg

[UFOSIG]

@carlfinkle It's daft. One cannot own land, not in reality, as it is there long after us. If anything we only 'hold' land. And in the natural order we are as much belonging to the land and it belongs to us. These banks will come unstuck, mark my words.

[carlfinkle]

@UFOSIG I could not agree more. The land owns us, we are but caretakers and if we fail in our duties the land will no longer feed us and we will return to the dust from which we came.

[danmarino1970]

If i had some money to spend.. i would definitely buy some land and start a farm..

[sleepwalker29]

You idiots you don't own land in america its all owned by the government. The indians figured that out damn idiots. Property tax is rent on land you will never own. So I ask idiots how much will you invest in something that you will never own? This is why the majority of real estate experts rent, because they know the truth.

[moniequa]

@UFOSIG, Yes, you are right it takes irresponsible borrowers and lenders to make this mess so why is our government bailing them out? Why do we care so much for people who lose their homes? People make bad choices all the times and we don't see them get bailout why home buyers and bankers get all these breaks I don't understand it.

[UFOSIG]

@moniequa Yet the banks are rewarded for irresponsible lending! I am sorry but as an ex banker I know what goes on and it stinks! I have no time for irresponsibility by companies either!

[moniequa]

@UFOSIG then you're rewarding the irresponsibles, people need to learn that they cannot go around and spend money they don't have. If we run out of home projects for them they can live on the streets like most irresponsible persons.

[moniequa]

@Corsaircid, Fed stop buying mortgages and interest rate is rising, the house prices are come tumbling down come tumbling down. Hahaha

[Corsaircid]

@moniequa

Referring to ordinary people who are loosing jobs.

Also people whom felt its now or never to buy a home.

Cheers!

[Corsaircid]

@moniequa

Referring to ordinary people who are loosing jobs.

Also people whom felt its now or never to buy a home.

Cheers!