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-   -   U.S. Properties Worth $2.2 Trillion at Default Risk (http://projectavalon.net/forum/showthread.php?t=15740)

peaceandlove 07-30-2009 09:30 PM

U.S. Properties Worth $2.2 Trillion at Default Risk
 
SOURCE: G. Edward Griffin's website: http://www.realityzone.com/currentperiod.html

US: $2.2 trillion in U.S. commercial properties now at risk of foreclosure because they are worth less than in 2004. Their mortgages now are higher than their worth. Bloomberg 2009 July 29 (Cached)


U.S. Properties Worth $2.2 Trillion at Default Risk

By David M. Levitt

July 29 (Bloomberg) -- About $2.2 trillion of U.S. commercial properties bought or refinanced since 2004 are now worth less than the original price, raising the threat of more foreclosures, Real Capital Analytics said.

Prices have fallen so far that about $1.3 trillion of properties have either lost their owners’ down payment or are close to it, Robert White, president of the New York-based research firm, said in a report. The analysis includes only office, industrial, multifamily and retail properties. Hotels and raw land would “add billions more to the total,” he wrote.

Continues: http://www.bloomberg.com/apps/news?p...d=agyb1t2XNasM




US: 1.5 million home foreclosures to date is just "tip of the iceberg" according to Center for Responsible Lending. 13 million more expected by 2014. Reuters 2009 July 29 (Cached)

Foreclosure chart of the day

Posted by: Felix Salmon
July 29th, 2009

The chart comes from the Center for Responsible Lending (see link below):

According to Congressional testimony from CRL director Keith Ernst, the 1.5 million homes which have already been lost to foreclosure are just the tip of the iceberg compared to the 13 million total foreclosures expected over the five years from end-08 to 2014. He adds:

Continues: http://blogs.reuters.com/felix-salmo...rt-of-the-day/

pyrangello 07-30-2009 10:09 PM

Re: U.S. Properties Worth $2.2 Trillion at Default Risk
 
Hey P&E you think thats alot I had a very good friend who is a financial guy tell me there are alot more of those credit default swaps out there than anybody knows about . They sold the loan, sold the loan, then sold it again and then re-packaged it again.

Northern Boy 07-31-2009 01:37 AM

Re: U.S. Properties Worth $2.2 Trillion at Default Risk
 
Right pyrangello so many are unaware as to how bad it is its like a cake covered with icing and the current numbers they show you are the icing the sh*t what they don`t want you too know about is the cake .

The bankers are the kids at the table slowly taking the icing off the cake so people don`t notice and once the icing is gone the cake sucks no one wants to eat it. Thats when the bankers step away and ask each other what happened and leave the public the cake

We get the mess they got the icing
Money = icing
cake = we are SOL

mntruthseeker 07-31-2009 02:11 AM

Re: U.S. Properties Worth $2.2 Trillion at Default Risk
 
Quote:

Originally Posted by pyrangello (Post 157347)
Hey P&E you think thats alot I had a very good friend who is a financial guy tell me there are alot more of those credit default swaps out there than anybody knows about . They sold the loan, sold the loan, then sold it again and then re-packaged it again.

Oh yes and I am so fortunate to know have my home loan through none other than citi bank. grrrrrrrrrr so frustrating

Northern Boy 07-31-2009 03:02 AM

Re: U.S. Properties Worth $2.2 Trillion at Default Risk
 
Quote:

Oh yes and I am so fortunate to know have my home loan through none other than citi bank. grrrrrrrrrr so frustrating
Don`t worry about it they don`t have the paper work on it any more they sold it off you can almost be sure of that


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