from the http://www.doctorhousingbubble.com/ website. FOLLOW THIS LINK, READ THE ARTICLE.
"Yet after all the pain and economic suffering that Americans have suffered and with obvious culprits, nothing has occurred to fundamentally change our banking system. To that issue we focus our attention today"
Source: Federal Reserve
"At the peak of the housing bubble in 2006 Americans had $13 trillion in equity in their residential real estate. At the peak, total residential mortgage debt stood at $9.8 trillion. Today, American households have $6.2 trillion in equity while mortgage debt has grown to $10.3 trillion. In other words American households have faced a real financial loss of $6.8 trillion. At the same time you’ll notice that the amount of mortgage debt has remained steady."
"Yet after all the pain and economic suffering that Americans have suffered and with obvious culprits, nothing has occurred to fundamentally change our banking system. To that issue we focus our attention today"
Source: Federal Reserve
"At the peak of the housing bubble in 2006 Americans had $13 trillion in equity in their residential real estate. At the peak, total residential mortgage debt stood at $9.8 trillion. Today, American households have $6.2 trillion in equity while mortgage debt has grown to $10.3 trillion. In other words American households have faced a real financial loss of $6.8 trillion. At the same time you’ll notice that the amount of mortgage debt has remained steady."
Do not drop the ball now on understanding what has been done to US. Through the smoke of the financial crisis, we have witnessed the greatest wealth transfer in history, from American public to financial institutions......and it went to those RESPONSIBLE for the crisis itself....where is the OUTRAGE, where is JUSTICE?
ALT- A loans shitstorm from chart above.....deleveraging from an historic credit bubble takes time.
"LOS ANGELES – Lenders took back more homes in August than in any month since the start of the U.S. mortgage crisis." SO....is the stock market telling us we have seen the worst? where is real data pointing to hope of rebirth and hope of a sustainable economic expansion?
Under 3% 10 year yields and a near $1,300 ounce of gold speak volumes....and if you aren't creating jobs you can 0% mortgage rates and few buyers.....other that some statistical blips, there is no recovery....they manipulate what they can manipulate, stock prices.
30% of SPX earnings comes from banks, banks INFLATE earnings with false values on their paper.
wasn't idea to give Paulson $800B to buy and get the crummy mortgage debt OFF THE BANKS? that money is long gone, banks still hold crummy paper......what the hell have they done?
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