Jim the Realtor – a literally from-the-streets view of the mortgage cock-up. Via top-rated economics blogger Calculated Risk
It’s kinda sad and scary what’s going on, how they’re gonna ‘eke’ the products onto the market – 11 foreclosures in this high-end Orange County development, Strip Mallandia. Jim the Realtor couldn’t get an asking price from the guy wanting to sell – I’m guessing a sign they want way more than they’re going to get for them. A few stories up from this on the CR blog was about how Illinois was experiencing a wave of foreclosures after a moratorium expired – further proof that all these moratoriums have done is spread the damage out in time, saving the old banking boys from going broke, and not prevented any honest, hardworking (or fradulent, scheming) Americans from losing their home(s).
You know the one green shoot we’re having? Crime – that’s on the rise.
Tags: calculated risk, CR, foreclosure, jim the realtor