Undermining home ownership imperative

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investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
Undermining home ownership imperative

Some Americans are swapping homes for motels as the ranks of the homeless swell during the recession, crowding out shelters and forcing cities and states across the country to find new types of housing.

In Massachusetts, a record number of families are being put up in motels due to high unemployment and the rising number of homes going into foreclosure, costing taxpayers $2 million per month but providing a lifeline for desperate families.

"I feel like this has saved my life," said Tarya Seagraves-Quee, a 37-year-old former nurse.

http://seekingalpha.com/article/148440-undermining-home-ownership-impera...

Also of interest: Wells Fargo Sues itself?

http://www.consumerwarningnetwork.com/2009/07/10/getting-to-the-bottom-o...

cannotaffordit's picture
cannotaffordit
Status: Gold Member (Offline)
Joined: Jun 12 2008
Posts: 273
Re: Undermining home ownership imperative

 Hi Investorzzo,

I'd like to repeat a question I asked yesterday on another thread.  What is it going to be like when the numbers of unemployed and the number who have reached "exhaustion" of unemployment benefits, along with the subsequent number of foreclosures that result from all this, begin to really think about their situation......and what action will they take as a result?

I think it promises to become a very "unpleasant" situation (to say the least) for our country.

Is it irrational to think that we cannot put enough solutions into place, fast enough, to keep this from happening?

Will's picture
Will
Status: Bronze Member (Offline)
Joined: Oct 27 2008
Posts: 81
Re: Undermining home ownership imperative
Ben A wrote:

 Hi Investorzzo,

I'd like to repeat a question I asked yesterday on another thread.  What is it going to be like when the numbers of unemployed and the number who have reached "exhaustion" of unemployment benefits, along with the subsequent number of foreclosures that result from all this, begin to really think about their situation......and what action will they take as a result?

I think it promises to become a very "unpleasant" situation (to say the least) for our country.

Is it irrational to think that we cannot put enough solutions into place, fast enough, to keep this from happening?

Washington will simply extend unemployment benefits for another 6-12 months (shucks, make indefinitely!).  I think they know that doing otherwise would ramp up crime and bring out the torches and pitchforks.  Of course, we all know that the torches and pitchforks will eventually come out anyway when the rest of the world shuts down our money printing press--  THEN TSHTF just like it will in California soon if the FEDs don't bail them out!

investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
Re: Undermining home ownership imperative
Ben A wrote:

 Hi Investorzzo,

I'd like to repeat a question I asked yesterday on another thread.  What is it going to be like when the numbers of unemployed and the number who have reached "exhaustion" of unemployment benefits, along with the subsequent number of foreclosures that result from all this, begin to really think about their situation......and what action will they take as a result?

I think it promises to become a very "unpleasant" situation (to say the least) for our country.

Is it irrational to think that we cannot put enough solutions into place, fast enough, to keep this from happening?

Ben, I believe they call them Fema camps! Or is that concentration camps?

cannotaffordit's picture
cannotaffordit
Status: Gold Member (Offline)
Joined: Jun 12 2008
Posts: 273
Re: Undermining home ownership imperative

 Yep.  That's what I understand that they call the camps.....Fema Camps.  Then why are they so secretive about them?

Investorzzo: a  technical question:  I am operating on Mac, with Safari.  How do you copy and paste a quote from an earlier email into the one you're writing.  I can't seem to get mine to do it.  Thanks.

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