Sunday, January 11, 2009

Tsunami of Foreclosures to Come?

Ivy Zelman of Zelman and Associates predicts a tsunami of foreclosures yet to come over the next few years, and the only solution she recognizes is nationalization of the mortgage industry. Wouldn't that be a great solution, 'Comrade Blogger'.

Hope for Housing? Not a fu**ing chance.


Rob Dawg said...

It amazes me when bright people like Ivy see the problem they want to see and then proceed to bungle the solution.

I'd email her myself except I cannot afford what she'd charge for reading it so here for free: Foreclosures are the solution to the problem of excessive home prices and debt.

Tyrone said...

Yep, Rob.

Sadly, there seems to be an escalation of intervention taking place. Don't know when it will end and I don't know what it will ultimately lead to, and I sure as heck don't like it.

But Obama is almost here! Hurray! LOL