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Don't bet on that. The banks have been known to rent homes for years until they
could sell them for more then the paper on them. In fact in the 60s S&Ls turned
many of the abandoned apartment buildings into Wh--e Houses and sold them
several years later. The gov. can't afford to have the banks go bust. They
saved them several times from bad foriegn loans, and they will bail them out
again at tax payers expense.
"Dorothy K. Carter" wrote:
> Add to that the appraisers who figured out how to inflate the appraisal so
> the homeowner did not have to pay points.. so when the value of the home
> goes below the mortgage... the yuppies walk away and the bank owns
> them..... thats when you sit back and wait for the bank auctions........
> they will come............... save your $$$$ homes will be avail for 40%
> of today's value by yr 2005-2006
> ----- Original Message -----
> From: "Ira Tunik" <irat@xxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, November 09, 2001 9:57 AM
> Subject: Re: [RT] Debt
>
> > The real-estate cycle is about every ten years. There was a bust in the
> 60s, the
> > 70s and the 80s. Now maybe in the 2002s. The thing is that prices never
> go down
> > to were they were in the last cycle. Inflation takes care of that along
> with
> > 125% home loans. Are there any S&Ls left to go broke or does the Fed
> ultimately
> > hold all the paper once again? Oh! I almost forgot about all those
> mortgage
> > backed securities that the brokerage firms foisted upon the public once
> again.
> >
> > Dorothy Carter wrote:
> >
> > > cycles have to play out... you can't trick them to speed up... it's like
> > > asking a tulip to push through snow in order to bloom....... These
> larger
> > > cycles were in play before Bush became Pres. and prior to 911.......
> with
> > > large layoffs.. banks end up owning a lot of realestate.... in a few
> yrs..
> > > auctions at banks will be good fire sales...... have experienced this
> cycle
> > > before in Alaska back in early 80s.......... Now the post office bail
> out
> > > will be as costly as the airline bailout.... DEBT DEBT DEBT.. one
> small
> > > check from Uncle Sam won't last 1 month in the hands of those who need
> it.
> > > ----- Original Message -----
> > > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Friday, November 09, 2001 6:33 AM
> > > Subject: Re: [RT] Debt
> > >
> > > > I read within the past few days that only 20% of the tax rebates were
> > > spent,
> > > > the rest went into savings and debt paydown. I suppose that if the
> next
> > > > package goes to those who have to spend it there will be spending but
> > > > otherwise, from the standpoint of economic stimulus, looks like
> another
> > > > waste of the surplus.
> > > >
> > > > Earl
> > > >
> > > > ----- Original Message -----
> > > > From: "Dorothy K. Carter" <dorothy.carter@xxxxxxxx>
> > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > Sent: Thursday, November 08, 2001 4:17 PM
> > > > Subject: Re: [RT] Debt
> > > >
> > > >
> > > > > corp name...... and the corp calendar to float more debt
> continues...
> > > then
> > > > > there is the consumer....... DEBT... DEBT .... DEBT......It not
> just
> > > the
> > > >
> > > >
> > > >
> > > > To unsubscribe from this group, send an email to:
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> > > >
> > > >
> > > >
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> > >
> > >
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> >
> >
> >
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> >
> >
> >
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> >
>
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