This one is different than the last one because the money all goes to homeowners who got the shaft from the banks. Some of the states had used the money earmarked for homeowners to for their treasuries. Not nice!!
The standard and poor/case shiller index showed that prices are rising when compared with last year even though there was a slight decline from last month.
Home prices in LA are up 10.5% from the bottom and up 12.2% in San Diego. Coastal properties are the ones causing this while inland areas lag.
When banks foreclose they are responsible for condo fees going back 12 months. Well, they just are not doing it and a lot of condo associations are hurting because of it. So they are fighting back and foreclosing against the banks that own the properties.
Finally!!! The jobless rate is now 9.8%. Is anyone surprised? We all knew it was only a matter of time. Housing is helping since so me much of our economy is tied to real estate. Hedge funds are helping with housing. They have to use escrow and title agents and hire contractors to repair.
I told you that our housing downturn would only be short lived and that it ALWAYS comes back.(remember i told you in 2005 that it was going in the toilet)
One of the things i predicted was that the american dream would never die- owning your own home in the greatest country in the world. Just because people stopped coming to our country whether illegal or legal was simply economic-they could not find jobs, did not mean it was anything more than temporary.