Flyhigher, I agree with your view somewhat. These people were going after the American dream AND house payments at the time, were probably less than rent. So they probably thought they were doing the responsible thing at the time. However, I do think that people should do their homework concerning ARM loans before they purchase.

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It's extremely sad, these people are homeless for one reason or another. The tent just provides shelter. We're in a very rural area and loitering isn't allowed so they built tent city, there was around 30 tents. But, they were evicted because they're building a Super Walmart. Again, no clue where they went. But, I don't think you can blame the foreclosure of homes, you can always downsize before you become homeless.

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http://www.youtube.com/watch?v=HyR41JbpL_g

Sheesh.

Question: other than that prison in Phoenix, how many of these tent cities have you seen?

I live in a state the libs and even Fannie Mae says is in the center of the foreclosure "crisis."

No tent cities here.

The foreclosure rate is under about 3%.

Landlords are happy. So are investors who buy up properties to turn in to rentals.

Residential rents are up a little, maybe 6% to reflect the folks needing to rent now they they stupidly got themselves upside down in the house they were buying and have been market corrected back into rental housing.

I would guess...just a guess...that you are yet another shrieking libbie.

This, thread, by the by, belongs in the Economics and Economy forum, not here.

N00b.

Tokie

Link? LIIIINNNKKKKKKKKKKK!!!!????


How come we have none of these here? My state is in the top 7 hit "hardest" by the foreclosure "crisis."

No tent cities here. Lots of "homeless" illegals camping out by the river...oh....maybe you meant THOSE people?

Tokie

LOL!

And did they come by offering to resurface your driveway or your bitumen roof?

And read your palm, too?

Tokie

There is plenty of blame to spread around.

Start with lax government oversight in the residential lending business. We saw EXACTLY the same thing happen in the 70s with the arbitragers (many went to prison) the EXACT same thing in the 80s with the S&Ls (many went to prison) in the 90s with the stock market (many went to prison or are still battling it out) and now in the early 'oughts with residential lending.

Note: BANKS are experiencing virtually NO "crisis." Maintaining their conservative approach, they did not do these kinds of loans.

Moving on: next comes the mortgage lenders (not banks) who took advantage of gov't regulatory laxity, the enormous rise in income in the US since the late 80s and invented "creative" means of getting folks with no money, bad credit etc. into houses. Enter: ARMs, Option-ARMs and HELOC loans.

Next comes the homeowners and buyers themselves who believed they were smart enough to play this game (savvy borrowers have been using loans with balloon payments and ARMS or arm-like loans and what-not for decades...this is not a game for Joe and Jane Average) and/or who believed they could leverage their house into big bucks for new cars and other stuff or investing elsewhere.

Now comes reality: real estate prices rarely (if ever) only go one direction. This is called a market correction, same as in the stock markets. When it gets "overheated, " something has to pop somewhere, eventually. And it has.

The reality is that right now, ahead of the peak in the middle of next year, we are seeing MAYBE 3-4% of ALL homes in America in or at risk of foreclosure (because of risky loans...some of these are not related to the "crisis" and would've been at risk anyway...call that about .05% of the total). At the very MOST next year at the peak of the crisis we may see as many as 8% of all American homes in foreclosure.

This number is not even close to the 12% seen in the 80s in many parts of the country (including where I live). Of course, we need to look at this rationally: there are far more homes now, so these number (today's)mean more people in foreclosure...but remember: our population has increased by 50-60 million since then (and yes, many of these foreclosures are to illegal aliens) and homeownership has become a far greater reality for far MORE Americans today than it was in the 70s and 80s.

In any case, this is not a crisis. It's a market correction and barely a blip on the economic radar screen, it's only a big deal because the libs and their 5th Column, the media are making it one ahead of this election, blaming the "crisis" on Bush.

Tokie

No Dahling..it was Bush and Greeenspan throwing a bone to the poverty ridden Republican base.
They told every Hick, hillbilly and Yokal in Red State America that with the 14K a year they made at Wal Mart or the local feed store, they could afford a 150 to 200 thousand dollar home.

Why ? Simple. It artificially inflated not only the housing market, but the durable goods and retail market as well, in order to mask the fact that the tax cuts failed to produce any stimulation of the economy, and that the Bush economy is in the toilet.

When secondary market investors came back and wanted a promised return on their investment, Bush and Greensopan hit the sorry ass ignorant losers who took these loans with 17 staraight increases. As usual, the Blue States where the economy is at least above water because of State inititives, will have to open their checkbooks to bail the back ass 3rd world red states, just like they do every time a tornado blows over a red state trailer park.

This is what actually happend Dahling

Tent City; Sierra Vista Herald | The Bisbee Daily Review


City tells homeless to leave 'tent city'
By Gentry Braswell
Herald/Review

Published on Friday, November 09, 2007

SIERRA VISTA — Homeless people in a “tent city” area between Martin Luther King Jr. Parkway and the Highway 90 Bypass are being given notice by city police that they must soon leave the area.

It has been suggested that this process is a result of Wal-Mart’s pending development on the property, but that is not the case, said city spokeswoman Marie Hansen.
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This action stems largely from complaints from families who use the nearby city athletic complex, Hansen said.

Sierra Vista police Capt. Brad Roland, who is also on the board of directors for the Good Neighbor Alliance, has been involved with the local “homeless count” for the last three years.

“There is an (ongoing) increase in the number of the camps that we usually see when we’re doing the homeless counts,” Roland said.

It is not known why the local homeless population continues to increase, he said.

So far, officers have made contact with about a dozen homeless residents in the area and provided them with a local list of the various amenities and institutions that are available. There are probably about 20 campsites in “tent city” right now, he said.

Hansen said there will likely be a clean-up effort by the city government once the squatters have left that area.

There has also been stronger enforcement in Sierra Vista of state laws that make begging or otherwise soliciting in public areas illegal if not specifically authorized.

For example, the nature of panhandling that used to occur frequently in the CVS/Safeway parking lot has changed. Roland said this is because of multiple complaints from area business owners and customers who consider the behavior a nuisance, which compelled stronger city enforcement of the unauthorized soliciting law.

Apparent panhandlers still can be seen on at traffic access points in the CVS/Safeway parking lot, but they typically no longer are holding up signs that ask for food or money.

herald/review reporter Gentry Braswell can be reached at 515-4680 or by e-mail at gentry.braswell@svherald.com.

ALSO...
We a major trash problem by the illegal immigrants.

Sierra Vista Herald | The Bisbee Daily Review

Report shows border trash a major issue
By Jonathon Shacat
Herald/Review

Published on Thursday, October 25, 2007

BISBEE — It’s a long-standing concern of border-security proponents: Illegal immigration and smuggling cause significant environmental damage, says a report recently released by the Bureau of Land Management.

The annual report for fiscal 2006 details efforts by the bureau and partner organizations to mitigate the impacts on lands in Southern Arizona.
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The Bureau of Land Management recently released a report that outlines the damages on lands in southern Arizona caused by illegal immigration. Trash is a significant problem. Photo submitted by BLM. Deborah E. Stevens, public affairs specialist for the Bureau of Land Management, said the purpose of the report is to build public awareness and get attention to the issue.

“Tremendous numbers of people and organizations are doing work. We kind of want to let people know what we are doing and what kind of project work is going on,” said Shela McFarlin, special assistant for international programs for the bureau.

More than 225,000 pounds of trash related to smuggling were collected, according to a press release on the report. Another 900,000 pounds of litter that resulted from both smuggling and illegal dumping were removed.

About 24 million pounds of trash cover thousands of acres of public and tribal lands. The most visible items are drinking bottles, clothing and food refuse.

Illegal roads and trails cause damages to resources on the landscape. There are also damages to infrastructure, such as gates, ranges, fences and water tanks.

Also as a result of the project, more than 75 projects were completed, ranging from cattleguard repair to re-vegetation. The project also involved rehabilitating more than 100 routes and maintaining 26 miles of roads.

Also removed were more than 130 abandoned vehicles and 1,902 abandoned bicycles. Removal of the vehicles, which are often burned, is difficult and expensive because care must be exercised to avoid further damage to the environment.

“Across federal and tribal lands in southern Arizona, significant natural and cultural resources are also being damaged, along with sensitive wildlife habitats,” says the release.

W. Richard Hodges, a rancher who owns property along the border, said the impact of illegal immigration is also evident on his private land in Cochise County. “The migrant trails are substantial,” Hodges said. “I can run 30 head of cows, and they can go to different points on my pasture, and a cow path will be 18 to 20 inches wide, and it’s six or eight inches deep.”

“Where the illegal immigrants walk, I’ve got a path that is 36 inches wide,” he continued. “Nothing grows along it and there is every kind of piece of garbage you can imagine.”

He has found numerous items on his land, including cell phones, baby diapers, plastic bottles, backpacks and clothing.

The BLM report is online: blm.gov/az/st/en/info/newsroom/undocumented_aliens.htm.

Reporter Jonathon Shacat can be reached at 515-4693 or by e-mail at jonathon.shacat@bisbeereview.net.

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Ephesians 5:15

http://www.youtube.com/watch?v=HyR41JbpL_g

You are an idiot and know very little about anything. You should stick to just stalking because then at least you can say you aern't trying to make any sense.

Besides teh rest of yoru bullshit post, lets just look at California being a Blue state and them having all sorts of problems, so you trying to say the foolish buyers (and I agree they were foolish) were Republican rather than Democrat is idiotic at best. I am sure there were plenty of each.

You are incapable of discussing anything like this because with you everything is either R or D. Not to mention you just don't understand much of anything. I think it was posts like yours above and me calling you on them that finally drove you over the edge.

What the hell did you just say ?
Buuuuurp
I was gonna sell the trailer, but then you asked about moving in because you were getting evicted from your apartment for all that trash on the floor. I even made room for your Dom1 mens clothes, and your MIM womens clothes

Oh hell..I need another drink !

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