Oct 11
3
Our Own Government Has Created Expected Housing Market Crash
Does the housing market look good where you live? Have you been trying to sale your home? The housing market in the United States in on the decline, no matter what the government and Federal Reserve try to tell you, and it has a long way to go before it will get better.
As the video above from http://www.futuremoneytrends.com explains, the government manipulated economy has create enslaved citizens. The housing market must crash before housing becomes affordable, and a sustainable housing market correction can occur. The government has destroyed the housing market and is now, thanks to taxpayers money, is funding 90% of the home mortgages.
As the Federal Reserve artificially depresses interest rates, and more and more inexperienced home buyers fall for all the gimmicks of the “benefits” of owning a new home at more than they can truly afford, the housing market will crash before it will correct. 30 year loans, zero money down, and the same interest rates of buyers from all walk of life, are gimmicks that have trapped millions of home owners with homes they should have never been able to purchase.
13% of all homes in America are vacant. Millions of home owners are upside down on their mortgage with the average foreclosure process now taking 17 months to complete. 28% of homeowners nationwide are upside down on their mortgage while 68% of the home owners in Phoenix Arizona alone are upside down.
Housing prices will continue to fall as more and more foreclosures hit the books. There is a massive wave of foreclosures expected in 2012. U.S. Homes receiving default notices from July to August jumped 33%, close to 79,000 homes. California had a 55% increase, Indiana had a 46% increase, and New Jersey had a 42% increase in default notices in one month. Bank of America, the largest mortgage lender in the United States, saw an increase of 200% in one month in the default notices that it sent to borrowers.
The average loan in foreclosure is a record 600 days. 1.9 million loans are at least 90 days overdue with 800,000 of the 1.9 million loans not having made a payment in over a year that are still not in foreclosure. There are 300% more foreclosure filings than sales.
If the interest rates were to increase from the current artificially manipulated all time lows, the number of foreclosure filings would skyrocket as millions of home owners would have no chance of paying their monthly home mortgage, as they are barely able to at the current lending rates.
Thanks to government and Federal Reserve manipulations, millions of home owners fell into the trap of purchasing a home they could not afford. 2012 is expected to be a year of millions of foreclosures, with a very possible crash in the housing market before the market corrects itself. The housing crash is the best thing that could happen as homes would become affordable for buyers to purchase without gimmicks, and purchase within home buyers standards of living.
In order to survive and thrive during this economic crisis and housing turmoil, you must become well-informed by real proven experts that have made a 30 year career at helping save financial lives, and you must take control of your own future without relying on your government.
Subscribe to The CrashProof Prosperity Newsletter to be part of the well-informed smart investors that not only survive but will thrive during this economic crisis and housing turmoil. If you are serious about improving your current financial conditions, and taking immediate control of your own future, go to Working at Home Business Model and discover how to create an executive level income from your own home. Read more articles about Financial Freedom Online Basic Business Knowledge and become well-informed before the public!
