Exploring Contemporary Events, Government Accountability, Politics and Third Places in the Space Needle State since 2007
Monday, November 8, 2010
Real Estate Projection for Bellingham
Thanks to high unemployment in Bellingham, more foreclosures are expected to negatively impact home prices. In fact, home prices are expected to deflate by 6.1% in 2010. Link to Housing Predictor
Anonymous-- It works the same way as closing a $%2.5 billion federal deficit by handing out $3 billion in corporate tax and revenue cuts. C'mon, get with the program!
Bubbles are where it's at, baby! Any problems? Just call on Jesus, he's comin' soon to fix 'em.
Oh, jeez! Did I write billion when I meant TRILLION? Did I think QUADRILLION when I factored in Obama's contribution to it in that last million years or so he's been president??
Here's some more fuzzy math for you: $43 trillion - that's the estimated potential liablity for bad mortgages. Those of us who are watching this whole charade unfold are shaking our heads as the investor lawsuits are filed against JP Morgan Chase, BOA, Wells Fargo and others. The sad part? The banks and the "investors" could have been "saved" if we had just bailed out the homeowners (alias American taxpayers), instead of the banks. The real estate market would have bounced back, people would have kept their jobs and the economy would have recovered. Oh, and 25% of American mortgages wouldn't be "underwater" at the tune of $801 billion dollars.
That's OK, because we're going to Get Whatcom Working by building more houses. Building more houses will solve the problem of deflating house prices.
ReplyDeleteUnfortunately, it's too late to ask how that makes sense.
Anonymous-- It works the same way as closing a $%2.5 billion federal deficit by handing out $3 billion in corporate tax and revenue cuts. C'mon, get with the program!
ReplyDeleteBubbles are where it's at, baby! Any problems? Just call on Jesus, he's comin' soon to fix 'em.
Oh, jeez! Did I write billion when I meant TRILLION? Did I think QUADRILLION when I factored in Obama's contribution to it in that last million years or so he's been president??
ReplyDeleteMust be that GOP fuzzy math taking over.
Here's some more fuzzy math for you: $43 trillion - that's the estimated potential liablity for bad mortgages. Those of us who are watching this whole charade unfold are shaking our heads as the investor lawsuits are filed against JP Morgan Chase, BOA, Wells Fargo and others. The sad part? The banks and the "investors" could have been "saved" if we had just bailed out the homeowners (alias American taxpayers), instead of the banks. The real estate market would have bounced back, people would have kept their jobs and the economy would have recovered. Oh, and 25% of American mortgages wouldn't be "underwater" at the tune of $801 billion dollars.
ReplyDelete