There were 4 million homes listed with brokers for sale as of July 31st…this would take a RECORD 12.5 months of current sales pace to take this inventory off the market!
The number of U.S. homes in default or foreclosure is 7 million as of July 31…most have not hit the market as inventory yet…
The average time for a home to actually reach foreclosure after defaulting is 469 days…..say what? That’s almost 1.25 years from original default!!! So how many more defaults have occurred recently that won’t hit foreclosure till the end of NEXT YEAR?!?!?!
Also worth noting is that a current homeowner survey revealed that another 3.8 million homes or 5 percent of U.S. households said they are “very likely” to put their properties on the market within six months if there is an improvement….I believe this goes with my statistic presented earlier that 30% of ALL homeowners in the U.S.A are UNDERWATER....and lurking, waiting, and beggin' to get out even...im beggin' for an ocean-front estate in Maui too but that isn't happening either...
I won't even mention the possible "Shadow inventory" predictions that I've been reading about recently...makes the picture look even more bleak
These stats just reinforce my opinion……re-read my original post:
http://themonthlynut.blogspot.com/2010/08/recently-seemingly-everywhere-i-turn-i.html
Housing simply isn’t anywhere near bottoming!!!!
Friday, September 17, 2010
Thursday, September 16, 2010
Shenanigans...
I call this one of the largest ponzi schemes ever created….Bernie Madoff is an amatuer compared to this....take a look at the below chart. It is a graph of U.S. GDP from 1980 through today.
Pretty nice right? I mean we have gone from $3 Trillion a year in GDP to $14 Trillion in 30 years. That’s an annual growth rate of 3.66% per year. Not to shabby for an economy this large!
Okay, now here's the rub….unfortunately much of this so called growth has been artificial. It has been created 100% by the Borrowing or DEBT of the U.S. Government. Take a look at the next chart. This is a nice picture of the U.S. Federal (Gov't) Debt over that exact same time period.
Wow…picture’s worth a 1,000 words right? Well gosh these Graphs look eerily similar, like almost too darn similar to be a coincidence. Well I’d like to say I have all the answers, but this one just boggles my mind. It’s criminal what Madoff did….stealing from all those people and just spending all that Moola like he actually earned it! I think it’s about time us Americans see that the Government is doing the exact same thing to us. The only difference is this is somehow Legal. I think this is only happening because the Public doesn’t understand. The Government has run-up almost a $13.5 trillion dollar DEBT. They are spending OUR dollars that we HAVEN’T EVEN MADE or EARNED YET! Just like Madoff was spending $$$ from clients he hadn’t even signed up yet!
One last thought: How is it that GDP has risen by a 3.66% avg over the past 30 years....YET Government PENSIONS....the money PAID to themselves into perpetuity which was decided on by themselves has risen a whopping average of 30% per year?!?!? Look at the chart:
And the Government wants to cut Defense spending right? Any mention of cutting any of their own fat Pensions???? Of course not! But, I do hear a whole lot about raising taxes to pay for these rising Costs...i.e Gov't pensions....it's really pretty sick if you think about it...because no matter how high they raise taxes they will always come back for more! Because now that revenues are higher...by golly they "deserve" to pay themselves more!!!!
Enough is enough...forward this post or blog on and let's take America BACK! The Monthly Nut is running for president in '12....
Pretty nice right? I mean we have gone from $3 Trillion a year in GDP to $14 Trillion in 30 years. That’s an annual growth rate of 3.66% per year. Not to shabby for an economy this large!
Okay, now here's the rub….unfortunately much of this so called growth has been artificial. It has been created 100% by the Borrowing or DEBT of the U.S. Government. Take a look at the next chart. This is a nice picture of the U.S. Federal (Gov't) Debt over that exact same time period.
Wow…picture’s worth a 1,000 words right? Well gosh these Graphs look eerily similar, like almost too darn similar to be a coincidence. Well I’d like to say I have all the answers, but this one just boggles my mind. It’s criminal what Madoff did….stealing from all those people and just spending all that Moola like he actually earned it! I think it’s about time us Americans see that the Government is doing the exact same thing to us. The only difference is this is somehow Legal. I think this is only happening because the Public doesn’t understand. The Government has run-up almost a $13.5 trillion dollar DEBT. They are spending OUR dollars that we HAVEN’T EVEN MADE or EARNED YET! Just like Madoff was spending $$$ from clients he hadn’t even signed up yet!
One last thought: How is it that GDP has risen by a 3.66% avg over the past 30 years....YET Government PENSIONS....the money PAID to themselves into perpetuity which was decided on by themselves has risen a whopping average of 30% per year?!?!? Look at the chart:
Do you realize virtually the same amount of Money each year is spent on Government Pensions as it is on Saving our Lives from another Terrorist Attack, i.e DEFENSE Spending??? Seriously $800 Billion is spent each year on PENSIONS and $900 Billion is spend each year on DEFENSE….I don’t know about you but I don’t think that a retired Politician worked any harder than you and I do everyday, nor did he or she SAVE MY LIFE…but somehow he or she is saddled with 100% of there highest earning year for life after they retire?!?!?! Oh and by the way we are expected to pay for their retirement....and our own?!?!?
And the Government wants to cut Defense spending right? Any mention of cutting any of their own fat Pensions???? Of course not! But, I do hear a whole lot about raising taxes to pay for these rising Costs...i.e Gov't pensions....it's really pretty sick if you think about it...because no matter how high they raise taxes they will always come back for more! Because now that revenues are higher...by golly they "deserve" to pay themselves more!!!!
Enough is enough...forward this post or blog on and let's take America BACK! The Monthly Nut is running for president in '12....
Tuesday, September 14, 2010
Tuesday's Tidbit...
Gotta feel a lot like quick-sand right?....damn near impossible to get out of....
The public debt levels of the G-7 countries (US of A, Japan, Germany, France, UK, Canada & Italy) has increased from 35% of GDP in 1974......to 80% of GDP in 2007.......to 110% of GDP in 2010....I’m holding my breathe now….don't know how much longer I can do it for....For god’s sake grab my hand and pull-me outta here…!
(source: International Monetary Fund).
The public debt levels of the G-7 countries (US of A, Japan, Germany, France, UK, Canada & Italy) has increased from 35% of GDP in 1974......to 80% of GDP in 2007.......to 110% of GDP in 2010....I’m holding my breathe now….don't know how much longer I can do it for....For god’s sake grab my hand and pull-me outta here…!
(source: International Monetary Fund).
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