OVERBLOWN?
There are numbers of gloom and doom folks out there.....especially many in the media. But is the economy in "crisis" due to foreclosures? NO. Check this out from MSN Money:
The rate of foreclosure was still only 1.033%. Because about 30% of all homes are owned mortgage-free, this means that for all the noise about a crisis, only seven-tenths of 1% of all (mortgaged) homes were in foreclosure.
Folks, this is NOT a crisis. It's just that some WISH it to be. So this is the motivation: "If it 'might' be a crisis, shouldn't we print some more money?"
We're doing quite well at Tyler Texas Real Estate, http://www.johncmartin.com/. We don't need a bail-out; and we don't need anybody to "prop up" our economy.
The rate of foreclosure was still only 1.033%. Because about 30% of all homes are owned mortgage-free, this means that for all the noise about a crisis, only seven-tenths of 1% of all (mortgaged) homes were in foreclosure.
Folks, this is NOT a crisis. It's just that some WISH it to be. So this is the motivation: "If it 'might' be a crisis, shouldn't we print some more money?"
We're doing quite well at Tyler Texas Real Estate, http://www.johncmartin.com/. We don't need a bail-out; and we don't need anybody to "prop up" our economy.
posted by John and Flo Martin at 10:54 AM
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