Comments on: The Cure for Ailing Housing Market? Maybe It’s More Foreclosures http://trueslant.com/megancottrell/2010/07/12/the-cure-for-ailing-housing-market-maybe-its-more-foreclosures/ Chronicling Chicago's public housing, poverty and urban problems Wed, 29 May 2013 03:45:48 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: <fb:name linked="false" useyou="false" uid="1">Bobby Pippin</fb:name> http://trueslant.com/megancottrell/2010/07/12/the-cure-for-ailing-housing-market-maybe-its-more-foreclosures/comment-page-1/#comment-1271 Bobby Pippin Wed, 04 Aug 2010 22:41:20 +0000 http://trueslant.com/megancottrell/?p=1448#comment-1271 buy forclosed homes from "hud, fannie mae, and freddie mac" thay still own more than most people can count. Thanks, bob buy forclosed homes from “hud, fannie mae, and freddie mac”
thay still own more than most people can count.
Thanks,
bob

]]> By: <fb:name linked="false" useyou="false" uid="1">Bobby Pippin</fb:name> http://trueslant.com/megancottrell/2010/07/12/the-cure-for-ailing-housing-market-maybe-its-more-foreclosures/comment-page-1/#comment-1270 Bobby Pippin Wed, 04 Aug 2010 22:37:56 +0000 http://trueslant.com/megancottrell/?p=1448#comment-1270 most of the foreclosed homes went to "HUD", "FANNIE MAE", AND FREDDIE MAC". CHECK THEIR SITES SHOWING THE HOME THAT THEY OWN AND WANT TO SELL, BOTH BY AUCTION AND ESTABLISHED SALES PRICES. THE NUMBER WILL SHOCK YOU; AND MOST HOME SEEKERS CAN LIKELY FIND AN ENDLESS NUMBER OF CHANCES TO STILL BUY FORECLOSED HOMES AT UNBELEIVABLE GOOD BARGAINS. Thanks, bob most of the foreclosed homes went to “HUD”, “FANNIE MAE”, AND FREDDIE MAC”.

CHECK THEIR SITES SHOWING THE HOME THAT THEY OWN AND WANT TO SELL, BOTH BY AUCTION AND ESTABLISHED SALES PRICES.

THE NUMBER WILL SHOCK YOU; AND MOST HOME SEEKERS CAN LIKELY FIND AN ENDLESS NUMBER OF CHANCES TO STILL BUY FORECLOSED HOMES AT UNBELEIVABLE GOOD BARGAINS.
Thanks,
bob

]]> By: Wisconsin Lakefront Foreclosures http://trueslant.com/megancottrell/2010/07/12/the-cure-for-ailing-housing-market-maybe-its-more-foreclosures/comment-page-1/#comment-1235 Wisconsin Lakefront Foreclosures Mon, 12 Jul 2010 17:40:28 +0000 http://trueslant.com/megancottrell/?p=1448#comment-1235 [...] The Cure for Ailing Housing Market? Maybe It’s More Foreclosures – Megan Cottrell &#8211... [...] [...] The Cure for Ailing Housing Market? Maybe It’s More Foreclosures – Megan Cottrell &#8211… [...]

]]> By: darthfurious http://trueslant.com/megancottrell/2010/07/12/the-cure-for-ailing-housing-market-maybe-its-more-foreclosures/comment-page-1/#comment-1234 darthfurious Mon, 12 Jul 2010 15:58:32 +0000 http://trueslant.com/megancottrell/?p=1448#comment-1234 "Plus, Hanson says, there’s still a huge shadow market out there – homes where the mortgage isn’t in good standing, but they’re not in foreclosure yet." That's not including the houses that have been foreclosed on and haven't been put up for sale because to do so would be to admit that the bank holding the paper is insolvent. This is the whole point of mark-to-model (as opposed to mark-to-market); it allows the banks to assign values to assets based on what the BANKS need those assets to be valued at. Why? BECAUSE THEY ARE INSOLVENT, and they're trying to re-inflate the housing bubble to hide their insolvency. I agree with Hanson, but this is just another version of "Too Big To Fail." His argument for increasing foreclosures is simply a back-handed argument for letting the big boys fail. “Plus, Hanson says, there’s still a huge shadow market out there – homes where the mortgage isn’t in good standing, but they’re not in foreclosure yet.”

That’s not including the houses that have been foreclosed on and haven’t been put up for sale because to do so would be to admit that the bank holding the paper is insolvent. This is the whole point of mark-to-model (as opposed to mark-to-market); it allows the banks to assign values to assets based on what the BANKS need those assets to be valued at. Why? BECAUSE THEY ARE INSOLVENT, and they’re trying to re-inflate the housing bubble to hide their insolvency.

I agree with Hanson, but this is just another version of “Too Big To Fail.” His argument for increasing foreclosures is simply a back-handed argument for letting the big boys fail.

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