Article

2010-08-19 Economy

US Bankruptcy Filings At Nearly 5-Year High

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Posted by Fred 2010-08-19 00:00|| || Front Page|| [1 views ] Top

#1 Vicious cycle. Mortgages that are 50% or more underwater (value is less than 50% of the outstanding balance) are likely candidates for strategic walkaways. These houses go back on the market expanding supply which in turn drops prices which leads to ... more houses 50% or more underwater. I guess it stops when townhouse sale prices get so low that you can make 10% in rent. That is the point that investors will get back into the market. Thank you community reinvestment act for breaking the economy.~

Posted by Mike Ramsey 2010-08-19 03:12|| 2010-08-19 03:12|| Front Page Top

#2 It was Basel2 that really caused the glut of credit that made housing unaffordable.

Posted by Bright Pebbles 2010-08-19 06:55|| 2010-08-19 06:55|| Front Page Top

#3 Jobless rate just out for last month was 500,000. What recovery? Baghdad Bob must be putting out the economic news in BO's regime. They are sorely out of touch with reality or just putting out propaganda which no one believes. By November, I'm thinking donk bloodbath at the polls. They are starting to eat their own now. Nancy Pelosi wants to investigate the people protesting the NYC mosque? What in God's name is wrong with that psychopathic power hungry idiot who is in charge of the House?

Posted by JohnQC 2010-08-19 09:10|| 2010-08-19 09:10|| Front Page Top

#4 Consumer bankruptcies rose 21 percent to 1.51 million, and business bankruptcies rose 9 percent to 59,608.

Without prompt administration intervention, these figures, while troubling, would have been 5-8 percentage points higher, indicating an estimated 419,000 homes saved or potential bankruptcies prevented.

Posted by Besoeker 2010-08-19 09:37|| 2010-08-19 09:37|| Front Page Top

#5 In Florida, neighborhoods decline rapidly with the walk-aways. Ergo: there are increased policing needs, but without the ability to pay for more police. Vigilante thinking is rampant in the State.

Posted by Thusolet Prince of the French2994 2010-08-19 18:13|| 2010-08-19 18:13|| Front Page Top

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