Open Thread

12 Comments

1. 

   anarchronarchist on March 30, 2009 at 4:17 pm

   Jeez – this will make it 1000% more difficult to tease value out from the shit pile. Go banks go!

2. 

   Zandar1 on March 30, 2009 at 4:21 pm

   I could have told you this was coming.  The residential real estate market has crashed so hard that banks are now losing money on foreclosing.  They were just as eager for foreclosure moratoriums as the Obama administration was.  Their reasons for doing that were completely financial.  They don’t want to be stuck with a falling real estate asset any more than homeowners do.

   And prices still have a good 15-20% to go.  The banks know it.  They’re walking away from foreclosures and sticking local governments with the clean-up.

   • 

     rba on March 30, 2009 at 5:53 pm

     “Banks”?  My brick-and-mortar, regional, FDIC-insured bank has had no problems at all during this mess.

3. 

   Alice on March 30, 2009 at 4:23 pm

   This is a REAL outrage.  Maybe our legislators should  pay attention.

   • 

     Brendan Skwire on March 30, 2009 at 4:30 pm

     and maybe I’ll begin bleeding hershey’s chocolate syrup.

     the village doesn’t notice anything until its collective existence is threatened.

4. 

   Geov Parrish on March 30, 2009 at 6:01 pm

   Bottom line? Countless unoccupied homes, at the same time that there’s epidemic homelessness.

   I’m just sayin’.

   • 

     anarchronarchist on March 31, 2009 at 8:52 am

     It WILL be tempting…

5. 

   MNPundit on March 30, 2009 at 6:39 pm
6. 

   MNPundit on March 30, 2009 at 6:39 pm

   Wonder if you could predict this. If you could, then forclose, just stay in the home and not make the mortgage payments.

   Eventually they’d force you to move out but maybe if you just kept stuff to a minimum you could pack up. Or maybe go find the people in the tent cities and say “live in this house until they kick you out.”

7. 

   rootless2 on March 30, 2009 at 8:27 pm

   Bush appointee decided to put the fund heavily into stocks last spring.

8. 

   michaelmt on March 30, 2009 at 9:27 pm

   Way too addicted to progressive blogs! But I keep reading about how Obama isn’t pushing the prosecution of former administrators for war crimes, torture, and violation of privacy.

   And yet Obama has released key memos, appointed people of conscience, and (hopefully) put anti-torture lawyer Dawn JOhnston in the DOJ in charge of looking into these issues. I was very impressed to hear Ron Suskind on Maddow tonight, express his admiration for Obama’s actions in this area.

   I think I’ll just relax and watch the action.

9. 

   Denim Blue on March 30, 2009 at 11:16 pm

   I’m not surprised.  Every Sunday there are ads for foreclosed homes in Detroit for as little as $1000 and this last week one was listed for $100.