daisylu
Junior Associate
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Joined: Dec 27, 2010 6:04:42 GMT -5
Posts: 6,907
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Post by daisylu on Jan 13, 2011 11:14:20 GMT -5
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thyme4change
Community Leader
Joined: Dec 26, 2010 13:54:08 GMT -5
Posts: 40,451
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Post by thyme4change on Jan 13, 2011 11:22:20 GMT -5
If I won the hundred-gagillion dollar lottery, I would buy entire neighborhoods, knock all the houses to the ground and turn them back into citrus groves. My grandkids could resell that land back to developers in the boom of 2050 and make a fortune.
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Post by jennml on Jan 13, 2011 11:27:31 GMT -5
As a new homeowner, those are some scary numbers. Makes me feel so good that I didn't even go close to my supposed "max" mortgage eligiblity amount. Thank you YM!!!
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The J
Senior Member
Joined: Dec 18, 2010 11:01:13 GMT -5
Posts: 4,821
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Post by The J on Jan 13, 2011 11:30:48 GMT -5
I believe it. Since I bought (about 18 months ago), two units in my development have been foreclosed on and a third is on its way.
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Post by Savoir Faire-Demogague in NJ on Jan 13, 2011 11:35:17 GMT -5
There is currently a shadow inventory of two years worth of homes being held by lenders.
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Post by BeenThere...DoneThat... on Jan 13, 2011 12:33:34 GMT -5
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Post by daennera on Jan 13, 2011 12:35:58 GMT -5
Devil's Advocate here.........
This is actually good news for me. I'm looking to build a rather large portfolio of rentals over the course of my life, and as long as houses and money stays cheap for a few years, I'll be sitting rather pretty.
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Opti
Community Leader
Joined: Dec 18, 2010 10:45:38 GMT -5
Posts: 39,800
Location: New Jersey
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Post by Opti on Jan 13, 2011 12:51:24 GMT -5
It doesn't surprise me. On the YM MSN board I had posted about the rise
in bankruptcies which is at the biggest jump since the new law in 2005. It makes sense foreclosures are still rising.
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