Join Early Retirement Today
Thread Tools Search this Thread Display Modes
One million forclosures
Old 07-15-2010, 08:07 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Posts: 11,459
One million forclosures

So it seems that we might have 1 million forclosures this year... setting a new record that was set last year...

"Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the more than 900,000 homes repossessed in 2009, according to data released Thursday by RealtyTrac Inc"

"By comparison, lenders have historically taken over about 100,000 homes a year, Sharga said."

Soooo, if this is the case... that is 1.9 million homes... or 19 years worth in 2...

Homes lost to foreclosure on track for 1M in 2010 - Yahoo! News

Texas Proud is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-15-2010, 08:14 AM   #2
Thinks s/he gets paid by the post
IndependentlyPoor's Avatar
Join Date: Jul 2009
Location: Austin
Posts: 1,142
The Naked Capitalism blog reported the same story and frets about the "shadow inventory". Note the kicker for us "aging individuals":

The scary part here is this estimate of market overhang refers only to foreclosed and distressed property. There is another category of hidden inventory, people who would like to sell but aren’t even listing their houses. These would include people who want to relocate, aging individuals who’d like to downsize and had hoped to be able to liberate some equity.
Shadow Housing Inventory: Two Houses for Every One for Sale naked capitalism

Start by admitting
from cradle to tomb
it isn't that long a stay.
IndependentlyPoor is offline   Reply With Quote
Old 07-15-2010, 08:20 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,555
Dang, the music stopped...
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Is there a way to profit from coming forclosures?? nnkrealtor Stock Picking and Market Strategy 7 10-18-2009 06:21 AM
Say you just won $100 million.... thefed Other topics 40 09-30-2007 03:45 PM
how do forclosures impact the banks? newyorklady FIRE and Money 2 03-01-2007 08:17 PM
2nd Million MattInAustin FIRE and Money 8 03-31-2005 07:08 AM


All times are GMT -6. The time now is 05:00 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.