Good Eveing Gents, a little light reading for you

[Mega]

Remember all those get rich quick books about buying homes ......."Flip that house" sort of thing?

http://www.amazon.com/dp/0615224547?...ATBTSZW10CFBXJ&

I KNEW that this was coming, & Bloody Hell will this "Slam Dunk" the Market..........Sub-prime-Alt A- Prime...........it will make no differance!

Mike

[Bluestar]

Re: Good Eveing Gents, a little light reading for you

At the end, they may not have to worry about walking away. There could be a $600 billion bailout package on the way just for them! I guess the government is upping the pressure to get banks to free up that new money for lending to un-jam the financial system and not worry about these future mortgage defaults.

http://www.cnbc.com/id/27442009

[Adeptus]

Re: Good Eveing Gents, a little light reading for you

Hehe, I was thinking the same thing Mega, then literally last night I was up late and turned on the TV (in Canada) and sure enough there was an (American) informercial on how to profit from the real estate foreclosure market! I nearly burst out laughing.

Ironically, just last week they were still showing what I imagine must be re-runs of "Flip That House!" on day time television - because no way in hell that flippers are still making money in this market unless they are low balling government/bank foreclosures, fixing and selling them below market value at a profit.

Oh wait, I think I just figured out my next business venture! LOL