Foreclosure Alley. Must See!
Posted October 5th, 2008 by hawkiye
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It's worse then we thought! Sad very sad. This is a must see folks!
Welcome to the future because the future is now. But hey if were not careful we might go into a recession... Big sigh!
This was originally posted by sentinel but fell off the board to fast
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"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin
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There was some guy on the TV
There was some guy on the TV the other day sounding all righteous about the foreclosure situation. He was touted as being an economic pundit. He had no worries about homes falling into foreclosure status. When the market picks up, these properties will be bought and sold again.
No mention of the fact that without people in them they tend to go to rack and ruin. So they will be in need of drastic makeovers in order to obtain a halway decent price. It is this "other planet" mentality that gets me.
Is us who are the crazy ones or them?
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For Free Enterprise NOT Covert Corporatism
Ah, but see as a Keynesian, he LOVES broken windows...
because that will create lots of new jobs and opportunities for even more debt to pay for the replacement windows and stuff...
Heck, he'd probably agree with Bill Gross from PIMCO that we should maybe just go and literally blow-up every foreclosed house, form some type of government funded housing construction public-works project thingss to rebuild them... and the blow them up again and start all over again...
That's how you create jobs.
Or, we could do like the Egyptian pharaohs and build a bunch of big pyramids with manual labor that way we'd have 100% full-employment and the ultimate pyramid scheme would work out just fine!
(And actually, if we could do like the pharaohs did and come January 20th, we put GWB inside the pyramid along with all of the leaders of his administration {past & present} plus all of the current members of Congress and their staff members... maybe that wouldn't be such a bad idea! Heck I'd even chip in and buy the first block.)
Happy Hunting
JUST bear in mind that this market drop combined with the people WE made solvent ,allows the solvent parties to buy back at forclosure rates..
weee
Awesome !!
I've been poor all these years but debt free...
Maybe if this keeps up I can afford to OWN a Home..
Not LIVE IN A BANK OWNED HOME FOR INTEREST AS A DEBT SLAVE..
The least they could do is allow people to go into the home
and take stuff before they trash it, not just the company doing the trashing, but the general public.
Very depressing.
The owner of the clean-out
The owner of the clean-out company said that everything in the home is left there voluntarily by the person who was evicted/foreclosed upon. He said that everyone is given ample time to move their belongings.
From my understanding the people LEFT that stuff freely.
These were cases of "jingle mail" -- where the owners were NOT "forced out" but rather willingly sent the keys back to the bank and moved out on their own initiative... they apparently left all of the stuff behind because they had no where to put it.
You would think they'd at least have some type of fast "yard sale" -- but perhaps the shame of losing their home was such that they couldn't face even that.
If I were the cleanup-crew guy, I'd see if I couldn't rent some type of warehouse to store the stuff in... provided it's legally been "abandoned" then you could eventually open up a "warehouse store" sell the stuff way cheap and reap a big profit (since the only cost was the warehouse).
Cut a deal with the "home trasher".
He'd be happy to have somebody take some of the stuff. But he has to have it out on schedule. So cut a deal with him to take some of it off his hands and BE THERE ON TIME.
amazing
"Lead, follow, or get out of the way."
-- Thomas Paine
Thanks for the info. A few points
- this scenario is not typical of what is happening across the country
- we need to ask why these folks couldn't pay their debts and/or why did they just walk away?
- what was the role of speculation in this mess?
- who are the losers and who are the winners?
- what is the role of regulation (zoning etc) that makes options for homeowners so limited?
If one drives around the towns and cities of NH (New england for that matter) you will see two distinct types of neighborhoods. First there is just single family housing and second, areas where single-family housing is now multi-family housing. That is, during some hard times of yesteryear folks had the option of reconfiguring their homes to help pay the overhead. That doesn't seem to be an option anymore. I think it should be. If I had one of these Calif. homes I'd rent out part of it to help carry the costs.
It might not be quite as bad
It might not be quite as bad elsewhere but this is just the beginning. I know in my neighborhood and many in my area and others I have talked to across the country there are 2, 3, 4, or more vacant houses on every street. Not one street without at least 2 or more vacant houses.
The bigger cities where the bubbles was blown up the largest are hit the hardest right now.
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Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken
Get Prepared!
What I saw as hopeful in this video..
was the spirit of imagination and entrepreneurialism of the man who started the "trash out" business.... and the man who started the "painting the grass" business. And soon, as those below have pointed out, I am sure that there will be a person who contacts this guy and arranges to have HIS trucks there to take the nice furniture and start a "Used Furniture" business. This is the entrepreneurial spirit that will rise from the ashes and rebuild the country.
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"Not armies, not nations, have advanced the race; but here and there, in the course of ages, an individual has stood up and cast his shadow over the world."
well that is some of those assets that are suppose to go into
treasury of the United States. So they can sell them and make the tax payer a pofit. This is a joke. The government should be storing all of this for the tax payer and having auctions in the future to help pay down the tax payers debt. This is just sick.
They did it before.
It was called "HUD" - the department of Housing and Urban Development.
They got the poor into houses they couldn't pay for. Then when they defaulted and moved out HUD ended up with the houses.
And they refused to sell them - explicitly to avoid putting downward pressure on home prices. So the bubble continued to inflate, poor people with SOME income remained homeless or renting at inflated rates, and the HUD houses rotted or were squatted by drug dealiers, becoming unrepairable catalysts for neighborhood decay.
Like a rotten tooth that you can't pull.
Bet on it: Once the government has the ownership it won't sell. And it will all happen again.
Exactly, they are just
Exactly, they are just DESTORYING those individual lives AND the economy so we ALL suffer.
bankers
Alternatively, what if the BANKERS destroyed people's lives by sucking them in to a system their incomes could not afford?
The Federal Reserve drops interest rates to 1% for over a year (after 9/11). Greenspan publicly encourages adjustable rate mortgages precisely when locking in a low 30-year rate would be a better option.
Adjustable interest rates reset higher, and people lose everything.
Was this engineered or encouraged by the bankers and the Federal Reserve?
Trash Out
What a disgusting waste.
Where are all these homeowners now?
Trashout Riiiggghhhttt....
Looks like blackwater is working early, do you for 1 second think people are going to leave a $1200+ big screen and not try to sell it for 100 bucks or whatever? Just speculating but I find this very hard to believe.
Revolt For Freedom !!!
What do they care?
They bought it on credit, now they are probably going to declare bankrupcty anyhow.
OR, maybe they are just totally depressed and crushed, as the video suggested, and have lost the will to live, due to the Fed Hell of value illusions and deception at all turns.
They said
they take anything they can carry away.
insane.
insane.
Destroying peoples lives.
Destroying peoples lives.
bump
must see video.
Why not challenge the banks
and when they come to collect your house, you escort them out with your firearm?
The homeowners didn't own this house...
...it's the banks. They made the decision to take the Feds phoney money- not the bank.
It's very sad and tragic, but this fiasco has several guilty parties- including the Americans who participated in this false economy. I blame the government, the Federal Reserve and the citizenry that all too often participates in the same level of chicanery as those who represent them in D.C..
Maybe we do get the leaders we deserve...
you are correct...
the term "homeowner" is an oxymoron.
the bank owns the house - just like they own the car or the land or whatever you have on which you owe.
actually, even if you don't.
if you have a tax payer # (social security #) you do NOT own much of anything that you think you do.
THIS POST IS SUPPOSED TO BE IN REPLY TO: The homeowners didn't own this house...
Ron Paul is My President
That's why our family has
That's why our family has zero debt- outside of what the feds are wracking up on our behalf. :-(
I agree, "homeowner" is a very strange oxymoron given our "homeowner society", which is really a "bank owned society".
truly sad! to see the
truly sad! to see the dismantling of our country and fellow countrymen!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
I just hope this does not
I just hope this does not for some strange reason make people think the "bailout" must happen. Seems people think it somehow will help THEM, when it has not one thing to do with that...
bailout or not this is what is happening everywhere anyway.
~Mikael / Peace, love, Light and unity ~
No this is
No this is reality!
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Every normal man must be tempted at times to spit on his hands, hoist the black flag, and begin to slit throats. H. L. Mencken
Get Prepared!
I understand,
but I think it's so obvious that it's a bubble bursting here.
Freedom brings People together
Business idea - SERIOUSLY
This is very sad (and strange for me, since it's VERY different to the way these things are handeld in Germany).
But what really appalled me was that all the things the people left behind are thrown on the waste. What a waste! I heard the owner of the firm 'trashing out' the place, that he tried to get some charity to pick up things, but they proved to be unreliable. Suckers! YOU can make a business out of it, selling second-hand furniture and goods. This business is booming in this country, and if it is well made (rent a clean bright room, care for the goods not being smelly or looking like trash) like this company http://www.troc-koeln.de/... (click the link with their exposition (Ausstellung) on the left to get some idea) it may become very profitable. And it's a good idea for a start-up.
Freedom brings People together
SERIOUSLY
I cannot believe you see all these still usable goods wasted and not thinking on some business idea.
Freedom brings People together
did you see that TV ?
that stuff was nicer than I have! and they are just throwing it out !
~Mikael / Peace, love, Light and unity ~
All that stuff
is nicer thn what I have. If I lived in that area I could follow them around and actually have nice things in my home. Do'nt think I could live with where the came from though unless I could at least give the preious owners something. Strange when someone who never had such a fine lifestyle cries for someone who did. I do'nt have all that but it could still happen to me if things get much worse.
Yes, it's incredible !
Freedom brings People together
i'm sick
~peace
bump
omg
I have family in Murrietta
Blood in the streets there in the Inland Empire....
Um...no.
That's a bit of hyperbole, there.
You've obviously never been foreclosed on.
~Mikael / Peace, love, Light and unity ~
Thankfully, not so far
But there is no blood in the streets...
...yet.
I should have added that qualifier in the first place.
BUMP
to keep it up
I dunno, I consciously
I dunno, I consciously decided not to get into hock buying a house so I have some empathy for folks, but really, is it the end of the world? Many of them will end up in an apartment, not on the street even though they will basically be wiped out.
natural consequences
It looks like the natural consequences of a consumer-based way of life.
Depending on infinite growth in a world of finite resources? Not smart.
If we could retain some of our technological advances while returning to a photosynthesis-based way of life of hunting and gathering, we could probably survive as a species.
Our whole system is totally insane right now. And the natural consequence of insanity is failure to survive.
Where do they all go?
Thats what I have wondered. Families with children. Elderly? Where do they end up? Where? God damn it where!
Family , friends, rent,
Family , friends, rent, motels, and some homeless, some live in their cars or RV's or in a tent perhaps.
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Living in tents or back to living with parents
What I thought was sick was that these people left all that expensive stuff ? now who would do that ? would you ? something very wrong here ?
~Mikael / Peace, love, Light and unity ~