lehman bankruptcy estate
As the property market is affected by the recent turn of events?
Is this a good / bad time to buy a house? I know the prices are continue to fall slowly, but how does the collapse of Lehman Brothers takeover of Merrill Lynch, AIG, directed towards influencing, the real estate market is? Will it crash? We are still great deals on houses, but is there a way to say that property prices suddenly drop by 30% if a different major bank declared bankruptcy?
Fannie Mae and Freddie Mac trouble, the trouble with mutual funds, the trouble with six of the nation's largest asset management company, the problem with the dollar and the fact that the cost of oil will have about $ 1.3 trillion U.S. dollars transfer from U.S. to Saudi Nations, all progressing to more trouble. Above addition, the mortgage fiasco has $ 1720000000000 adjustable mortgage refinance or standard required before June 2012. We have only set back $ 1400000000000 since August 2007, we are not even half way there. Well, add that the banks will take about nine months to a foreclosure book and realize that, on average, about 353 000 foreclosures filed per month for the past six months. Soon the banks dumping stock of around 2 million foreclosed properties that they are on their own books as well as his "non-performing assets". This truncated mean little economic goodies that we just beginning. Real Estate is a friend push it at least until the end of 2012. The 10 202 banks that existed in 2006 is now down to 7,000 and by 2010 about 5,000. By 2012 it is 12 large banks, the 85% control of the banking business and is this type of oligopoly is never be good. The Sherman Anti-Trust Act is completely ignored by the Congress freedoms to the demise of our individual. The sale is a good time and a great time not to own real property. Rent something and bide your time for another four years. If you feel that you Real estate for sale, buy a six-unit apartment building, because with the tightening of credit conditions and increase the number of newly created bad credit families, the rents are as fast as the gas prices.
S&P and Moody’s Cut AIG’s Rating: the most costly rating in history, cost taxpayers $85B. Showed to Hank Paulson to Tame the Hill. Morgans get $20B for rating, Sell Short and Crush AIG Share Value from 911 to Ziff. Rent Joe Cassano Brain at $1M per Month.
