Comments on: Republican Recession Watch: Confidence Drops, Home Values Drop

By: C.S.Strowbridge

C.S.Strowbridge — Wed, 30 Apr 2008 10:17:39 +0000

Just read that a third to 40% of foreclosures are own by the bank. That is to say, they can’t even sell them at an auction to investors. They have no equity at all.

… Shit.

There’s almost no way there is going to be a fast recovery here.

By: durablend

durablend — Wed, 30 Apr 2008 09:56:48 +0000

Some of them don’t even bother with the stamp–just leave the keys under the doormat and vamoose

By: C.S.Strowbridge

C.S.Strowbridge — Wed, 30 Apr 2008 06:46:23 +0000

I read there’s a serious issue with jingle mail. People mailing in their keys to their bank because abandoning the property is the easiest solution for them.

Scary.