BIDENOMICS: Home Foreclosures Rising Nationwide – By 50 Percent or More in Some State

[DonGlock26]

BIDENOMICS: Home Foreclosures Rising Nationwide – By 50 Percent or More in Some States



In another sign that Biden is leading the country to ruin, home foreclosures are rising across the nation.Some states are handling the problem better than others, which is to be expected, but the simple explanation for this is that more and more people are struggling to afford the cost of living. Biden is ruining people’s lives.Does anyone remember this even being an issue under Trump?

The FOX Business Network reports:Home foreclosures are soaring nationwide – and rising fastest in these 5 states




https://www.thegatewaypundit.com/202...-percent-more/

[pollycy]

This is following the progression of events I predicted going into 4th-quarter of last year... that after all the "holiday" splurges were over with, reality would set in.... Car repossessions, home foreclosures, business property foreclosures, and then when government can't stuff any more unemployed people on 'civil service' payrolls, the unemployment rate starts to increase noticeably.

In fact, unemployment in the U. S. already is much higher than the advertised "U-3 report" of 3.9%. The more useful, and overall more accurate unemployment rate (the U-6 report) is already at 7.3% and steadily rising since last last November!

Link: https://www.bls.gov/news.release/empsit.t15.htm


And, when jobs are lost, so are assets -- like cars, houses, etc., etc.

[DonGlock26]

This is following the progression of events I predicted going into 4th-quarter of last year... that after all the "holiday" splurges were over with, reality would set in.... Car repossessions, home foreclosures, business property foreclosures, and then when government can't stuff any more unemployed people on 'civil service' payrolls, the unemployment rate starts to increase noticeably.

In fact, unemployment in the U. S. already is much higher than the advertised "U-3 report" of 3.9%. The more useful, and overall more accurate unemployment rate (the U-6 report) is already at 7.3% and steadily rising since last last November!

Link: https://www.bls.gov/news.release/empsit.t15.htm


And, when jobs are lost, so are assets -- like cars, houses, etc., etc.

I've noticed more repo type vehicles plying their trade for about a year or so now. Reminds me of 2007-2009.

[pollycy]

I've noticed more repo type vehicles plying their trade for about a year or so now. Reminds me of 2007-2009.

Absolutely spot-on observation, Don. And that's why I suggest that some very, VERY good bargains may be available on repo's starting by about mid-summer. Banks and other financiers are going to panic when their lots fill up with repo's, and they're going to want to get them the hell off the books, pronto!

[DonGlock26]

Absolutely spot-on observation, Don. And that's why I suggest that some very, VERY good bargains may be available on repo's starting by about mid-summer. Banks and other financiers are going to panic when their lots fill up with repo's, and they're going to want to get them the hell off the books, pronto!

Good call.

[FNguy]

Gotta hand it to Jello Joe, when he sets out to destroy something he doesn't screw around..

[DonGlock26]

[Fall River]

The 10 States With the Highest Foreclosure Rates in 2023

Florida, where I live, is one of them and it's not because Florida isn't doing well economically. It's because so many people are moving to Florida that it's causing a housing shortage. And the housing shortage is causing home prices to rise. As home prices rise, so do property taxes and home insurance (for various reasons like insurance fraud and hurricane Ian.) And other states may have similar issues to deal with.

https://www.cnbc.com/select/homeowne...s%20have%20ris

Of course higher prices for gasoline, food and other items contributes to the problem.

But I don't see how the banks in Florida will be hurt. If they have to repossess a home, it should sell rather quickly with the shortage of homes in many areas. (A quick search indicates the U.S. banking system is stable.)


https://www.fox35orlando.com/news/th...tage-heres-why

[ruthless terrier]

we had a neighbor sell their house in one day a few weeks ago. so it goes.

[Wilson2]

Some say the economy is getting better, I don't believe it at all. I'm in Florida and the price for houses is skyrocketing. Its a bubble and its not going to last. When it crashes, its going to be worse than 2008.


Between the election and the economy and open border, I expect bad things soon.

We are planting in the gardens and greenhouses. We usually plant a wide variety of items, but this year we are focusing on the plants that do the best and have high yield - potatoes, tomatoes, green beans, and various types of squash, plus for flavoring onions, green pepper, jalapeno pepper, and herbs.

Since it worked well last year, we have one garden planted the old Indian way, plant corn squash and a pole bean togethor.