Map of the U.S. Shows Real Mortgage Conditions - Are We Eliminating the Middle Class?
It was the middle class that carried the economy for the second half of the last century and into the beginning of this century. However, they are being choked now between the rise of inflation and losing their homes - all in the name of big business. We seem to keep focusing more on bailouts of all kinds except how do we stop the increasing inventory of homes that is causing further deterioration in the real estate market. There are actions our government can take to shore up falling prices of homes. They do it all the time when it comes to setting other price regulations in other industries. The government stopped the media reporting extensively with pictures about Iraq. The media keeps exacerbated the fear of buying a home while prices are falling which contributes to people holding back from buying. While all the big heads are coming up with their stimulus plans the middle class Joe or Jane continues to struggle as they wait and hope for the miracle that cannot come because of the bickering that goes on in Washington. By the way, this is year 3 since the bubble burst in real estate.
If you click on this hyperlink Dynamic Map of nonprime Mortgages Conditions of the United States or the link attached to this article, you will see how the foreclosures, arms resetting, delinquencies, and more are disbursed in your area. Non-prime mortgages carry interest rates notably higher than those on prime mortgages which are one of the main problems for these foreclosures. You can click on the state for more details based on per 1000 units of inventory. You do not need to read an article or listen to the media telling you we are in or not in a recession to realize we are in deep ...trouble as a nation.
What's the solution? Well, there is no quick fix and just like Titanic, we've hit an iceberg with a big hole that is filing up the boat fast. Those that survive will be those that start taking defensive action now - getting out of debt and start educating themselves about their financial situation. We saw the iceberg coming but no one wanted to set the warnings out. Typically, the blame goes to the captain of the ship. And I think we know who that is.
Published by Sea Shepherd
Too much to list View profile
- How Mortgage Practices Have Added to the Real Estate Debacle
- How Does a Reverse Mortgage Work?
- Mortgage Mess or Mortgage Heist?
- There are actions our government can take to shore up falling prices of homes.
- The statistics are showing the elimination of the middle class via real estate foreclosures.
32 Comments
Post a CommentVery interesting and frightening. Thankyou for another great read.
Excellent links, Irene. Hanging, drawing, and quartering the captain will not save the ship - or us. Draining the ocean will.... The whole financial dynamic is upside-down, backwards, sideways, and wrong. (Reread the Depression overview.) One person cannot drain the ocean - only We, the People, can do that. America is in its most dangerous hour ever - ever. We must cease being reactionary and reactive; we must be proactive and neoactive - now. Michael
Excellent article! I fear that because of this administration, we could very well be on our way to another Great Depression. Now, I REALLY hope that I am am wrong; however, whenever I take a good look around, I see all the signs. We have got to take back our country from these people who could not care less about us!
Just checking if I had been here.. yep.. I was.. not getting all messages on new content posted in emails! Uggghhh!
Apparently, this recession is all just figments of our collective imaginations, MASS HALLUCINATIONS, if you will! We are not seeing any foreclosures. We are not seeing any inflation. We are not seeing jobs going overseas. We are not dying a death by a thousand little cuts. It's all in our heads!
Very interesting piece as always.
Excellent article, Irene. Depressing info, but the squirrels are very uplifting. LOL! P.S. I haven't seen either the blue bird or the wren for 2 days. Hmmmmm.
Enlightening, as always, and with marvelous photos to illustrate your point. LOVE your work! :)
You are so right and it is a crying shame too. I totally agree with you. Great article.
Excellent piece about a way to get more info! In our area, we only have to look around to see how bad things are. Homes just sit there and our mailbox has estate sales and foreclosure and auction notices daily. From what I hear from many I know across the country, this is not unusual. :(