Gravitational Collapse in Real Estate: “The Waterfall Effect”
Thursday, August 25th, 2011 at
4:12 pm
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Tags: economic, new, coast, beck, what is the waterfall effect in business, law, silver, obama, bob, jones, glenn, money, paul, gerald, maher, recession, economy, minutes, zombie, celente
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@theroilsoil If you cannot produce the lien, the actual paper, you have no right to collect loan payments, let alone foreclose. The number of missing or lost mortgages must number in the millions. After all the MBSs and SIVs of the last ten years who knows where the hell they are. Could be a file cabinet in a basement in Atlanta, or a vault in Frankfurt. Nobody knows. These liens have flown all over the world and traded hands so many times that nobody has a clue as to where they are.
@YuppiePrepper
George is 100% correct, and most likely, worse than even he is predicting.
do some reading on MERS . . . in many cases, banks are NOT
the holders of the loan. Therefore, they legally should not be foreclosing on anyone, and instead have their
arses tared and feathered and put in the gutter.
lol picking on the big guy.
you are too funny, I hope you're being very sarcastic , if not where the heck is everyone going to live? really funny stuff, good luck with that pitch the doom and gloom...
@YuppiePrepper You obviously have not researched the issue. It does happen quite often.
watch?v=9ctljs_u8SI
@neverfearchrisishere Who was stupid enough to build big detached houses out there........ or buy them.... no wonder america has gone down the pan.
Was looking at some beautiful new 5 bedroom houses for sale in Greenfield CA for only ~$200,000, then I realised that its in the middle of nowhere and the only job you could get there other than picking in fields would involve a 4 hour commute each day
@YuppiePrepper U r an idiot.....
Banks are stealing people's property? What?? g4t you're an idiot. If you refuse to pay back the money you owe to a lender than you are being robbed? If you refuse to give your wallet to a mugger you are robbing the punk?
Granted, the home values have gone through a correction. So? If you borrowed more than you can afford, who's fault is that? Did someone force you to sign that loan?
Your poor understanding of the world causes you to make wild speculations based on factoids and envy.
Controlled business cycles. The ptb bomb the markets then buy low, ride the wave and sell at the peak and bomb the markets again. Cleanse/consolidate and repeat
healthnews33.blogspot.com (please spread the word)
G4T banks can not touch retirement and 401K accounts...In 2005 a judge bankruptcy judge ruled it...Only the U.S. government when past due taxes are owed can touch those accounts....
@powergirl901 Spoken like a true American. Obsolve yourself of any blame what so ever!! It will not solve the problem until people like yourslef wake up and admit that you were half of your own problem. "It wasn't even Americans doing it???"""" Dont kid yourself! There are not 350 million foreigners who finanaced lifestyles they could not afford. And, the foreigners who were a very small percentage of what you describe only did so, shy....to LIVE THE AMERICAN DREAM. Not the Thai dream!
50% drop in Ireland
@wilatemodel How is that? I was in Irvine and everything was great there. No economic downturn there!
george4idiot, they won't walk away, they will just stop paying
@vanvanbluz ..are you on glue?...Ca is about to implode.
Ohh come on, are you crazy?? I like your videos, but this is rediculous! How is 10% unemployment going to make 50% decline in real estate prices? We may have a double dip, but that doesn't say that real estate will decline by 50%! Besides, i was in orange country last month and with all the bmws and benzs, i think california is doing great!
@theroilsoil - LENDING should NEVER have been speculative.. ACORN is a prime example. All these people with both of their hands around the governments "teets" squeezing, more more more more more me me me me - that is what is wrong.
Chattel inventory hahahahaaa We don't have that in Australia. Maybe I am ignorant. But those real estate agents are scum of the earth! I mean if there are revolutions we'll castrate those real estate agents for feeding propaganda into the minds of the vulnerable people. Don't trust those scum real estate agents, I never listened what they said. They should be put in prison in the same compartment with murderers. REAL ESTATE AGENTS ARE SCUM OF THE EARTH !! ERADICATE THESE SCUMS!!
Absolutely agree. I have moved out of the US, and I feel bad for those left in the police state that is now the USA....It's not long until the crash...maybe 6-8 months... Make sure you have the 3 G's: Guns, Gold and a Getaway plan.
@damoz89
"Swoop In" ? "Really"? These rich hawks will (and are) "swooping" out of the country.
The banks will start taking it in the arse hard, since many do not legally own the title.
George, if you can, post a video on the MERS (Mortgage - Electronic - Registration - System)
and what it will mean for the GLOBAL mortgage porn shop.
Sorry, but housing in general is still way overpriced in the U.S. and needs to come down another 40-50% to match the further march of US wage degeneration. Until some of the second and third world countrys rise up enough to demand wage and quality of life increases (like what happened in China recently), thus meeting the bottom tier of the US standard of life, we are going to continue to see the US quality of life deteriorate. It's gonna get worse, people.
@JohninBasel The banks will become property managers. Study the history of communism; the central government (aka banks) own the land; the peasants lease from them. If people can't pay rents because they can't find employment (or don't want to), then they apply for Section 8 government give-aways which are taken from working people wages. So the raping is cyclical; front end, back end. People that have no mortgages can lose their investment properties if they can't afford to pay property taxes.