The housing slump is far worse than you think

Bill,
Do you agree with all of these guys? There are interesting points in the article to be sure.
Scott in Tucson

Bill,

thanks for posting this article-it's not far from what I'm seeing around here...I think there is going to be a flood of foreclosures coming up pretty soon! The banks are not helping to make this situation any better-I'm not sure if it's because they don't want to or because they simply can't handle it. Banks don't have the expertise and manpower to be real estate owners/investors. If you call a bank and talk to someone regarding a shortsale, etc., you will find out that they don't have a clue of what their coworkers who are dealing with the same properites, are doing on another floor of the same building!

Learning and progressing evey day,

Valerie

Lets hope it isn't going to recover anytime soon! Bad is good!

Recovery, dont worry about that happening!! The country is >TRILLIONS< of dollars in debt, so what do you think that really means for each state in our country? What do you think that really means for the money in our pockets? Do you think our own government is really telling us the truth, or even the local news in your state? People its time to wake up to reality, if you want the truth go to the sources that will give you the truth, www.inflation.us and mej.com and scroll down to mejonomics.. I promise you, you will find out whats really going on in our country, and what you should be doing NOW!!

IM BUYING!!!! this NORMALLY stinkin news is music to MY EARS!!!.......I. have an ABUNDANCE of buyers on my list with $$$$ down for a land contract and still GROWING.....I just NEED to get offers ACCEPTED to turn them..workin it like he !!!!!!!!!! .........AND YOU NEED TO TOOOOOOO!!!!!!
JAY

I agree that this type of environment can be lucrative to someone that has their system in place, knows what they are doing, has a buyer's list, has money for them to move forward, etc.

However, if the market keeps going South, who will be the end buyers? Investors cannot keep just buying for buying sake. There has to be economic growth to stimulate people to buy a house. There has to be REAL employment growth and there has to be economic certainty before people will buy homes.

Some people are of the impression that the housing market will come back because it always has before. Despair will replace hope before its all over. The American dream has changed because the people in government have stolen our future and it is now time to pay the piper. There may be some Band-aids applied, but we are in for an extended period of economic malaise.

I think you two guys (like myself and some others on this website) will be able to make money today, tomorrow and beyond because we have the skill set (and cash flow) to do so. I think trying to say that everybody can is lulling people into a false sense of security.

However, in all honesty, anybody can make money in this market but you have to be driven enough to want it, you have to be able to take the proper steps to be on the winning side,and you have to be realistic in your approach.

Excellent bill....well said and can I add ...if you r NOT DRIVEN .......then BECOME DRIVEN.....and invest in your OWN FINANCIAL FUTURE............thanks bill.
jay

Yes as the market is right now, its still a decent time to make deals !!BUT if your truly paying attention to whats happening to our economy, and around the world you would understand what the end result is gonna be, and its not gonna be pretty... As we sit now our country is over 50 trillions dollers in debt, Ben Bernake is about to unleash another stimulous package. What do you think that will do to our already broke economy? Its gonna drive us right into HYPERINFLATION. As my above post states check out those websites i posted and find out the TRUTH!!Please dont be so preoccupied with everything in your life, that all this blindsides you..

Every time I get back on my horse and look to try this again, I read something like this and it puts that fear back inside of me. The truth is, you need money to make money doing this, no matter what anyone says. For those of us who have NO money, it all sounds good but that's about it.

I just had a call from Dean's last week Saturday, and they said they are funding in my area and for me to call them. I don't even know where to begin, and comments like: "Please dont be so preoccupied with everything in your life, that all this blindsides you.." does nothing to help me know what to do! No offense to anyone, it's just how it is. I already hate the thought that I'm missing out on what could have been/ could be the greatest opportunity I'll ever come across again.