Affordable Housing: Market Correction In Progress
Mortgage default notices to California homeowners soared 67% last quarter, according to the L.A. Times. "Lenders warned 20,752 homeowners in the second quarter that they were on the path to foreclosure because of missed payments. . . . "In Los Angeles County, default noticces rose 45%, to 4,586.
Actual foreclosures throughout California were up 215% over the same period last year; there were 1,901 this year.
More foreclosures means even more houses on the market, which should tend to push prices down.
Sometimes, when you bite off more than you can chew, the "Invisible Hand" slaps you in the face.
Posted by Walter Moore @ 8/03/2006 08:32:00 AM
35 Comments:
This comment has been removed by a blog administrator.
funny, 9:39. how about this:
Walter Moore, the Mel Gibson of the blogosphere.
9:39 - you must be upside down in your house and are afraid to hear the truth that Walter speaks...
Walter hates poor people!
Walter, a la 6th Sense:
I see poor people!
'Walt' Blitzer reports live from El Sereno's Academia Semillas del Pueblo:
"You just have to feel bad looking at the footage of these children as they're principal is dragged away by the LAPD anti-terrorism unit. They are so poor, and they are so illegal..."
change his name to "Walt-Hater More"
I should start saving my pennies
Yo soy Latino.
Yo vote for Walter over any idiot currently in office
10:22 Can ya provide a link?
Too Bad! You buy high and lose high $$$
That's life.
ANY OF THESE CLOWNS RECEIVE FORECLOSURE NOTICES?
Gotta love the Daily News for not being afraid to print the facts...
dailynews.com get whole story
LOOK WHO'S FALLING SHORT ON DECORUM....City Council newly charged with protecting decorum and propriety in council chambers, started late Wednesday....At 10 a.m., when the session was supposed to begin, Councilman Dennis Zine was the sole member visible. Council President Eric Garcetti, who's made it a point to start meetings on time, arrived shortly thereafter, followed by a handful of other members...After nearly 20 minutes, Garcetti, adopting the tone of a frustrated teacher calling the class to order, asked the other members to show up...It took an additional five minutes for them to arrive, though few took their seats or even looked up from the other tasks they were doing when the meeting finally was called to order.... packed with activistss..Yet, as they rose to speak, council members talked on their cell phones, chatted with staffers and typed on their computers. Even the most provocative speakers drew little more than a glance from the 14 elected representatives present.
There was no sign that, a day after approving rules governing the public's behavior while in chambers, the council gave any thought to its own. ..Councilman Jose Huizar, who represents East Los Angeles, missed his scheduled opportunity to speak, pausing from his cell-phone conversation to ask to give his address later.
GOTTA LOVE OLD POST.
Anonymous said...
Jose Huizar has no spine. He's a jellyfish. His staff is retarded and paranoid that they are going to lose his reelection. I live in CD 14 and won't be voting for Jose again.
August 03, 2006 10:50 AM
WILL MR HUIZAR WIN NEXT ELECTION?
GIVE UR OPINION
August 03, 2006 12:28 PM,
Is Lauro Pacheco running against him? Then your answer is yes!!!
Seriously, if the Pachueco brigade runs another campaign in CD14, that a sure victory for anyone running against him. Other than that, it's up to whoever challanges Weezie, do they have the City-wide credibility with donors like he does?
Walter Jarvis, founder of the Walter Jarvis Taxpayers Association. He single-handedly slayed the Affordable Housing Bond dragon that terrorized homeowners in Los Angeles during the Summer/Fall of 2006. A true hero to us all, his organization endorsed the failed 2009 Bernard Parks Mayoral campaign.
So let me get this straight: you're angry when housing prices go up, and you're angry when they go down.
You assume, moreover, that all the default notices go to poor people, as opposed to, say, wealthy speculators hoping to flip houses at a profit.
Finally, to "help" those poor people, you're going to support a billion-dollar "affordable housing" bond measure -- $2 billion, with interest -- tht will INCREASE their property taxes for the next 20 years, in order to provide subsidies to people with SIX FIGURE INCOMES.
I was not aware until now that the People's College of Law also offered Masters Degrees in Public Administration and Economics.
Re-elect NICK PACHECO for CD-14
Re-elect NICK PACHECO for CD-14
Re-elect NICK PACHECO for CD-14
Nick gets the JOB done
A powerful woman must run in Council District 14.
Does anyone have the guts to run?
What about Elena Popp
Christine Chavez
WE must find women politicians
SO LONG BOY NETWORK
Anonymous said...
7:08 Mr. Huizar
Who does he think he is?
August 03, 2006 12:42 AM
The word is out there NICK come back to CD-14
"Peoples College of Law"...isn't that where Oliver Wendell Holmes, Jr. and Louis Brandeis studied law?
" ART SNYDER FOR CD 14 "
WOMAN FOR CD 14
Huizar, Monroy and Ricazza suck
NICK PACHECO
WE WANT YOU BACK IN CD-14
Please run against this idiot jose and send him and his stupid phoney ass fake smile back across the border
Pacheco will lose. A woman can win against Huizar. A woman I tell you!
ADV Junior for CD14.
I bet even he could whip Lauro's ass!
Is ADV Jr a female?
Gil Cedillo also went to the Peeples Collij of Law. That's where you go to study law after affirmative action.
Ha ha. I read on an old post here that Cedillo lives in South Pasadena! Too funny. He wants to bring millions more illegals into California from Mexico, but won't even stoop to living in a Latino neighborhood. Must be either a really conflicted person or just a huge fraud.
August 04, 2006 1:19 AM,
I guess you've never been to South Pas, have you?
I lived in South Pasadena from 1975 to 1999 and it wasn't very latino when I was there, and from what I've seen when I've gone back since, it's seemed the same as it always was. Ie, probably 85% white, 10% asian and 5% other - not quite one-bill Gil territory. But his gerrymandered district actually includes poor South Pas, doesn't it? That would suck.
Must be a bunch of renters, retards or racists on this blog. Comments are totally OT.
totally. those renters are always going off-topic.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home