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View Full Version : Obama Private Sector doin just fine


HonestChieffan
06-14-2012, 08:34 AM
Hope and Change....Forward!

http://money.cnn.com/2012/06/14/real_estate/foreclosures/index.htm?source=yahoo_hosted


(CNNMoney) — Foreclosure filings in May spiked 9% compared with a month earlier, according to an industry group.

RealtyTrac reported that 205,990 U.S. properties received filings last month, including default notices, scheduled auctions and bank repossessions, marking the first monthly increase since January.

Bank repossessions climbed steeply, up 7% to 54,844, after hitting a four-year low in April.

The industry had anticipated that there would be a new wave of foreclosures once the industry resolved the “robo-signing” issues, which came to light in late 2010. A settlement was finalized last April.

Robo-signing put the methods used by the banks to repossess homes under intense scrutiny. That forced lenders to slow the foreclosure process to make sure their paperwork was legal and proper.

Once the banks reached a massive $26 billion settlement with state attorneys general over processing abuses, it was expected that they would step up their foreclosure efforts.

“With the settlement, it makes sense that the lenders would feel more confident pushing delinquencies through to foreclosure in May,” said Daren Blomquist, a spokesman for RealtyTrac.

There was also a 12% jump in foreclosure starts. “The jump in May foreclosure starts shows that it’s going to be a bumpy ride down to the bottom of this foreclosure cycle,” said Brandon Moore, CEO of RealtyTrac.

Saul Good
06-14-2012, 08:35 AM
This is scary.

alpha_omega
06-14-2012, 11:19 AM
It's ok...just hire more public service workers.

patteeu
06-14-2012, 12:33 PM
It's ok...just hire more public service workers.

Yeah, all we need to do is extend unemployment benefits and nationalize the apartment finder magazine and we'll be set.

Donger
06-14-2012, 12:39 PM
Come on double dip! Go, go, go!

go bowe
06-14-2012, 12:40 PM
Yeah, all we need to do is extend unemployment benefits and nationalize the apartment finder magazine and we'll be set.

patteeu espousing socialist goals in dc?

what's the world coming to?





oh, was that out of context?

go bowe
06-14-2012, 12:42 PM
Come on double dip! Go, go, go!

mmmmm, double dip hot fudge chocolate cone...

scrumptious...

mlyonsd
06-14-2012, 12:43 PM
Come on double dip! Go, go, go!Why? Don't you think Bush has been blamed enough?

patteeu
06-14-2012, 12:44 PM
patteeu espousing socialist goals in dc?

what's the world coming to?





oh, was that out of context?

It was a parody of our Socialist-in-Chief.

go bowe
06-14-2012, 01:57 PM
It was a parody of our Socialist-in-Chief.eh? what's this?

no humor is permitted in political discussions... :harumph:

we must all restrain our passions or risk stroking out... :grr:

otoh, socialist-in-chief is pretty good parody in it's own right...

go bowe
06-14-2012, 01:59 PM
Why? Don't you think Bush has been blamed enough?

never enough...

i gained weight while that guy was president and my budget went all to hell...

of course i've since lost weight because of eating nothing but cat food...

it's all bush's fault, i tells ya...

Amnorix
06-14-2012, 02:21 PM
the article itself notes that what is causing this has little to do with the current state of the economy, and more to do with an artificial slowdown in foreclosures which has been eliminated, so now they are accelerating and clearing the backlog.

There's plenty of stories to show how the economy is tepid, but this isn't one of them. You wont' get any argument from me, however, that Obama's comment that the private sector is doing fine was STUPID.