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DanG
Administrator
Posts: 5452
Registered: 6/30/2004
Location: SW FL
Member Is Offline
Points: 113876
Mood: Stunned Amazement
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US housing slump 'worst since 1930s'
| Quote From Source: | The US mortgage finance empire Freddie Mac yesterday predicted the worst housing slump since the Great Depression as it set aside $2.5bn (£1.28bn) to cover credit liabilities caused by delinquent loans and foreclosures.
Syron predicted yesterday that the American housing slump would be even deeper than anticipated. He said the company believed prices would drop by between 18% and 20% from their peak, exceeding its earlier forecast of 15%. In a statement, the company said it was "in the midst of the single largest decline in real estate values since the Great Depression".
| | Click source url to view entire story. |
http://www.guardian.co.uk/bu.../07/subprimecrisis.useconomy |
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FatalWishes
Administrator
Posts: 5531
Registered: 6/24/2004
Location: Fort Worth Texas
Member Is Offline
Points: 102541
Mood: Aging Cynic
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LOST SOVEREIGNITY OIL-RICH FUND EYEING FORECLOSED US HOMES
| Quote From Source: | There's a new land grab starting in America.
Foreign money, which up to now has focused its attention on investing in iconic commercial real estate - like Barneys New York and the Chrysler Building - is now moving to scoop up tens of thousands of discounted foreclosed homes across the country.
One sovereign fund, said to have earmarked $29 billion to purchase foreclosed residential real estate, recently hired a West Coast mortgage broker and is starting to search for bargains, The Post has learned.
| | Click source url to view entire story. |
Source NY Post
Source URL:
http://www.nypost.com/seven/...lost_sovereignity_123879.htm
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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Aerology
Beginner
Posts: 65
Registered: 5/28/2008
Location: North Central Kansas
Member Is Offline
Points: 650
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oil goes up, profits go up, homes go on sale, oil futures drop, money follows the bargains, when housing bottoms out, in comes the money with clout.
Why bomb good buildings when you can buy them cheap, put your people in them, and sell higher when this is over in several years..
International marketing takes a new twist?
Not really, just reaping what they have sown.
Osama Bin laden, may be hiding in your neighborhood.... |
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DanG
Administrator
Posts: 5452
Registered: 6/30/2004
Location: SW FL
Member Is Offline
Points: 113876
Mood: Stunned Amazement
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eh - Osama Been Forgotten is the best thing to ever happen
to the neocon crime family. |
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posted on 8/8/2008 at 12:06
