The Foreclosure Big Picture

[don]

The Top 20 cities from Goggle satellite mapping.

The Greater Phoenix area had over 55,000 foreclosures in 2010. National average for foreclosure: 492 days.

http://www.businessinsider.com/satel...foreclosures-1

[Shakespear]

Re: The Foreclosure Big Picture

The comments are good.

And this one !!!

Search Guy on Jan 27, 12:24 PM said:
@microhousehold:
This trick will no longer be available after February 10th when Google shuts down its real estate tool in Google Maps.

searchengineland.com/google-will-drop-real-estate-search-listings-from-maps-62496

[don]

Re: The Foreclosure Big Picture

This trick will no longer be available after February 10th when Google shuts down its real estate tool in Google Maps.

I wonder who got to Google!

Too much real info for the sheeple.

Not good.

[flintlock]

Re: The Foreclosure Big Picture

How accurate is this thing? Shows my neighbors house!

[don]

Re: The Foreclosure Big Picture

How accurate is this thing? Shows my neighbors house!

What isn't he telling you!

[don]

Re: The Foreclosure Big Picture

Yesterday’s Austin Statesman quoted a local economist who said that construction will pick up in the next two years due to “pent up demand”. I thought that was an interesting contrast to the following ad in yesterday’s Austin Craigslist:

The bank took away our houses and now we’ve combined households to move into a house 1/3 the size. That means a LOT of stuff that has to be sold or we’ll have to walk away from it. For example, we have:

The ad goes on to list many expensive goods such as “antiques” and “original art”. This was not a subprime loan.

Clearly misquoted. What he intended to convey was that pent up frustration, in two years time, would take a heavy toll on existing structures, leading to an uptick in construction.

[thunderdownunder]

Re: The Foreclosure Big Picture

That was simply amazing - America has a contagion of very serious " Mortgage measles"
Banks are going to need a BIG SHOVEL to bury all these. QE 3 in 10..9..8..7..6..5..

[flintlock]

Re: The Foreclosure Big Picture

Don you should read the latest "Pep Talk" in the latest issue of "Electrical Contractor".

It's titled, " Be optimistic: The Economy -and your life- Will get better".

Some good quotes:

" Most construction economists say we optimists are on the right track". Of course no evidence of this is given. We have to take his word for it.

"Clear clutter from your house, your car, your desk, etc, and let new and flowing energy into your life"

"Try to make at least 3 people smile every day"

"Frame every disaster with these words, "In five years, will this matter?"" Hmm, well yes, for some it will.

I'm sure all the out of work construction folks out there will be glad to know that if they just smile things will be okay.

[don]

Re: The Foreclosure Big Picture

Don you should read the latest "Pep Talk" in the latest issue of "Electrical Contractor".

It's titled, " Be optimistic: The Economy -and your life- Will get better".

Some good quotes:

" Most construction economists say we optimists are on the right track". Of course no evidence of this is given. We have to take his word for it.

"Clear clutter from your house, your car, your desk, etc, and let new and flowing energy into your life"

"Try to make at least 3 people smile every day"

"Frame every disaster with these words, "In five years, will this matter?"" Hmm, well yes, for some it will.

I'm sure all the out of work construction folks out there will be glad to know that if they just smile things will be okay.

Thanks for the reminder. Sometimes I forget. Sadly our industry has its NAR side as well. What's next? Electromagnetic Field Therapy

Maybe she has something ....




They don't .... any therapeutic benefit too short lived

[zoog]

Re: The Foreclosure Big Picture

How accurate is this thing? Shows my neighbors house!

I have some doubts. When I compared the google maps foreclosures for Portland with a couple websites that specifically map or list Portland area foreclosures, those websites showed considerably fewer results. Seems like either google has a lot of false positives, or they have access to information these other sites don't. Maybe the google version includes all the shadow inventory of foreclosures the banks are holding off the market?

[flintlock]

Re: The Foreclosure Big Picture

The really tragic thing about construction unemployment is how badly it is underreported by conventional measurements. We all know it had a lot of illegal alien workers as well as a lot of small businesses who don't report employment figures. REAL unemployment/underemployment in fields like residential construction is probably in the 75% range, not the 20% reported. A former employee of mine went looking for a job. He was told by one employer that the guy was down to one employee from a high of 35 just a few years ago. That is typical. And of course those illegal alien workers who lost their job were not eligible for unemployment benefits. I know a lot of those workers have found other work, but very likely much lower pay and probably less hours as well.

[flintlock]

Re: The Foreclosure Big Picture

Yes, it didn't show at least one home in my neighborhood that I know is under foreclosure because the kid is friends with mine.