Some commentsUS foreclosure activity rose in August from the previous month, and banks and lenders took ownership from homeowners at a record pace, according to a new report released Thursday.
Bank repossessions, often the final step in the foreclosure process after a home fails to sell at auction, increased about 3 percent from the month before to 95,364, a record high. At the same time the number of properties that received default notices—the first step in the foreclosure process—decreased 1 percent from a month ago and fell 30 percent from a year ago, a sign that lenders are focusing on their backlog of foreclosure inventory before tackling new distressed loans, according to foreclosure listing website RealtyTrac, which released the report.
1. The housing collapse is what brought us here.
2. We can't get out until it stabilizes.
3. Yet, far from rebounding, far from finding equilibrium, the market is still sinking.
4. With no bottom in sight.
5. This is not news.
6. Market analysts for 2 years have been reporting their monthly assessments, all the same, all dismal, all forecasting further falls and foreclosures, 3 to 4 million more foreseen.
7. Nearly 1 in 3 US homeowners is underwater.
8. How many of them are unemployed or underemployed?
9. How many are small business owners about to be hit with a massive tax increase?
10. The White House, meanwhile, is witless.
11. Its relief efforts to bailout the subprimed have been universally panned as a "dismal failure" (Jackie Speier, who survived the Jim Jones massacre, tho shot 5 times, was the first I heard to call it such).
12. Half those HAMP'ed have already redefaulted.
13. The biggest beneficiaries of Obama's bailout are, by course, bigwig bankers.
14. These things are all intricately interrelated, you recognize.
15. Consumer confidence crashed in September.
16. Auto sales suffered their worst August in 30 years.
17. Our trade deficit is thru the floor.
18. And our oblivious Obama blithely babbles on about how we're all headed in the right direction.
19. How outrageously outta touch can an Obama be?
20. Ask James Carville, committed Clintonista.
21. Progressives plead, drop the pollyanna pitch.
22. Stick to TAXING THE RICH, they detail.
23. When it comes to our economy this executive is clueless.
24. Alinsky is all about politicals and socials, completely empty concerning ACCOUNTING.
25. The FOREIGN POLICY of the oblivious one is equally BEREFT.
26. SOCIALLY, he's as outta touch, it's fair to say, as an anti-colonial from Kenya.
27. CHRISTINE O'DONNELL expresses far more aptly the American heart.
28. Economically we are challenged, as a nation once great, to survive this alien incompetent's upside down policies.
29. Politically, however, he and his are roadkill.
30. Embarrassed yet?
U.S. Foreclosure Filings Rise 16% as Bank Seizures Set Record - BusinessWeek
Foreclosures rise in July - Aug. 12, 2010
US foreclosures up 4%; top 300000 for 17th month on the trot | The Money Times
U.S. Foreclosure Filings Top 300,000 for 11th Month (Update1) - BusinessWeek
31% Say They Owe More on Mortgage Than Their House Is Worth - Rasmussen Reports™
Daily Kos: Mortgage Relief Progam a Dismal Failure
Few helped by Obama
Half of U.S. Home Loan Modifications Default Again (Update1) - Bloomberg
Banks to benefit most from White House program to help fight foreclosures - The Hill's On The Money
U.S. Consumer Sentiment Index Unexpectedly Declines - Bloomberg
Weak auto sales are latest sign of sluggish U.S. economy - Sep. 1, 2010
US posts widest trade gap in 20 months
What Democrats want Barack Obama to say - Glenn Thrush - POLITICO.com