Foreclosure Tsunami. Proof of the Coming Real Estate Collapse.

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Listen to RealtyTrac analysis of foreclosure tsunami January 26th, 2009, 5:45 pm

Interview with foreclosure tracker Rick Sharga of RealtyTrac on whats the chance that what he calls a tsunami of missed mortgage payments will abate anytime soon. I had to cut the first 4 minutes due to the time limit. But, please listen closely at 2:18, Mr. Sharga talks about Shadow Inventory. It's shocking~!

What I learned today will have devastating ramification for the real estate marketing and in turn the entire financial and stock market and the broader economy as a whole.

If true...our real estate fate is seal. There will be more housing and real estate foreclosure carnage ahead. The road is long.

Prepare yourself and protect your family from this coming economic catastrophe.

PLEASE RATE, LINK, SHARE and SPREAD the word so others can learn about the real nature of our real estate and economic crisis. Don't be a sponge to the talking heads that spew only that which benefits them and their bosses. Wake up!
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From L.A Times:

Bulk of bank-owned homes aren't even on the market yet
"Banks to unleash flood of REOs" at Inman News looks at the effect of foreclosures on the housing market this year:

Inventories of unsold homes are likely to swell in coming months as lenders begin to push a growing backlog of repossessed homes up for sale -- often in communities already awash in distressed properties....

Because it can take weeks or months for lenders to put repossessed homes on the market, the impact of real estate-owned (REO) properties on inventories lags behind foreclosures. Government efforts to recapitalize banks through the Troubled Asset Relief Program (TARP) and other bailout measures may also have taken some of the heat off of lenders to unload REO properties at fire-sale prices.

But with the emphasis of TARP and other government relief efforts now expected to shift to creating jobs, helping troubled borrowers avoid foreclosure and providing incentives for home buyers, lenders could soon unleash a torrent of real-estate owned, or "REO" properties -- even in markets already flooded with an oversupply of homes for sale.

"It's almost like a tsunami -- you can see it coming and you know it's going to hit but you can't get out of the way," said Ann Stickel, vice president of affiliated services with Sarasota, Fla.-based brokerage Michael Saunders & Co.

So how many bank-owned properties aren't even on the Multiple Listing Service yet? RealtyTrac senior vice president Rick Sharga puts the number at 75%. That's a lot of houses.




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[Growby10]

sounds unbelievable...but another true story about how wacky things got.

[VivaMydick]

honestly ? this is total and complete bullshit

[Growby10]

please explain why?

[sugarpuddin88]

One quadrillion dollars is the sum of outstanding fake derivatives

The latest bailout (bank heist) is $5 trillion, triple the original $700 billion; Amazingly the FED has been paying these bankers 188 billion a day all along

Add together the unfunded liabilities from Medicare and Social Security, and it comes to $99.2 trillion over the infinite horizon; Richard W. Fisher, the President and Chief Executive Officer of the Federal Reserve Bank of Dallas, (July 22, 2008 San Fran Chronicle)

[Growby10]

scary stuff. What do you think that means for RE and our economy?

[jbryant13]

People who think they have "equity" in their homes are delusional. The foreclosure sale prices IS the market price. The Alt-A wave is coming and when it's done everyone will be "upside down" - more and more layoffs and bankruptcies will further deflate the market and Obama's spending will bankrupt the country. Housing is NOT an "investment" it is a liability. Rent - don't buy.

[woodbury5696]

i hope we have anarchy, this is bull shit america is not a free market country! we are slaves to these banks who have compleat control over what we pay and what they sale the homes, cars everything for! until we reject the dollar we lost our freedom. and now we are thinking about health reform, the reason that is fucked is cause insurance makes that so it is not free market system! people reject your dollars and never leave your money in the banks that is promoting the problem!

[MlTher]

@jbryant13 The market is a delusion by its own definition. There is no demand/supply-mechanism or law of nature we can observe in markets. Markets are sentiments. No market member has absolute and perfect information. The entire market-religion is crap. Based on idiotic ideas about how it could work. Why are there millions of homes build while millions of foreclosures taking place? Population explosion? The only supply/demand-mechanism we could possibly see is speculating about whats next.

[Bennyclay661]

can anyone explain what it means when a loan isbeing adjusted

[TheREIMaverick]

Hey, I just wanted to comment on your video....I really like it and I have shared it with some of my firends on some of my social networking sites! NICE!!!!

[ferrari4sale]

@Mr2wings Get out while you can. Put your money in silver.

[michaelwright999]

@knau1234  I will put you there. drop your pants.

[Ibuysellinvest]

RIGHT ON GUYS 

[HollyTNUSA]

They are trying so hard to paint over the truth that the mortgage crisis is not the only economic cause

It IS the total cause! The "Reinvestment Act" and groups like ACORN bullying the banks and mortgage companies

Look up the term MERS or Mortgage Electronic Registration. This issue will blow your mind, even if you are not behind, your mortgage is a scam!

[AmTickProductions]

THANKS, CITY OF LONDON!!! enjoy the caymans!

[Mr2wings]

Washington DC area and the surrounding area the prices of homes keep going up.

This shows you how out of touch DC is with the rest of the country.

[mkmason2002]

@Mr2wings 1st of all if you bought your house 3 yrs ago@ 400K it is not going to sell for 360K., I would estimate 320K. If you have less than 20% down you MUST pay the PMI. So you're paying PMI & you have already lost 80K of which you are PAYING ON MONTHLY. When do you think you'll ever recover that $? You won't, the price will fall much further by Christmas. I suggest you sell your house PRONTO, IF YOU CAN, then take any profit & buy silver rounds then rent a home within your means.