Ortel: People losing confidence in government

11 minute video you should make the time to watch. Housing, politics, the economy and 2nd grade logic.

Click on the title above or the link below to watch this Bloomberg video.

http://www.bloomberg.com/video/64015526/

Housing prices could fall???

Wow, where have we heard this before??? Great info on future of housing prices in US, another 20% drop? Five more years until a bottom is reached? Has this author been speaking with Kirk???

Click on the title above or the link below to review the entire iMarketNews article.

http://imarketnews.com/node/21306

Banks push to foreclose

New York Times piece on short sales and why banks may choose to foreclose instead.

Click on the title above or the link below to review the entire New York Times article.

http://www.cnbc.com/id/39827922//

Get ready tax payers

Here is a well done piece on where the housing market is, where it's going and a hint at how ugly it will be for tax payers. When we asked Kirk Nace about his take on the piece he simply said "better than most, but the worst case projections are actually far closer to best case and worse case is 3-5x worse than these projections." He's been pretty accurate so far...Hmmm

Click on the title above or the link below to review the entire CNBC article and learn more about Housings Worst Case.

http://www.cnbc.com/id/39798920

Now hiring, no experience needed...or wanted???

Is it possible that this was the banks want ad?

"Do you need a job? Will you show up, shut up, and do as you're told? Do you know how to sign your name or can you at least fake it? IF you have answered "YES" to all of these questions, then we have a job for you..."

Click on the title above or the link below to review the entire Associated Press article to learn more about "Robo Signers."

http://finance.yahoo.com/news/Robosigners-Mortgage-apf-382327091.html?x=0

U.S. Housing Market Foreclosure-gate Doomsday Revolution Erupts

The Market Oracle Oct 20, 2010 Chris_Kitze

Posted on Wednesday, October 20, 2010 11:27:12 PM by An Old Man

Foreclosure-gate is heating up and the mad scramble for what's left of $45 trillion in real estate is guaranteed to leave homeowners homeless, pension funds unable to pay their pensions and even some of the biggest banks insolvent. A great housing goat rodeo was created when some of the 65 million mortgages on U.S. homes didn't follow proper legal procedures;

Fraud by homeowners who lied on their loan applications Fraud by banks who didn't follow proper legal procedures around the notarization and processing of mortgage documents Fraud by investment banks who packaged this junk and resold it to unsuspecting pension funds Pension funds promised returns to their pensioners they could never achieve

Lies, lies, lies and more lies. In this jockeying for position, the only thing guaranteed is Leona Helmsley's Law i.e. "Laws and taxes are for the little people." But the little people are starting to fight back in the U.S. and we'll get to that after we do a quick review of the situation at hand and how we got there.

This is how to fix Congress!!!

Below is an email that was shared with me, along with some comments. Thank you Samantha for sharing this with us!

Congressional Reform Act of 2010

1. Term Limits.

12 years only, one of the possible options below...

A. Two Six-year Senate terms
B. Six Two-year House terms
C. One Six-year Senate term and three Two-year House terms

2. No Tenure / No Pension.

A Congressman collects a salary while in office and receives no pay when they are out of office

3. Congress (past, present & future) participates in Social Security.

All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people.

4. Congress can purchase their own retirement plan, just as all Americans do.

5. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

6. Congress loses their current health care system and participates in the same health care system as the American people.

7. Congress must equally abide by all laws they impose on the American people.

8. All contracts with past and present Congressmen are void effective 1/1/2011.

The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves.

The pension system is ridiculous that they have.

Something to add is that they will always be prohibited from being a paid lobbyist when they leave office. Tom Daschle is someone that comes to mind...I am a big proponent of having a single payer system or at least the ability to buy into medicare. Tom Daschle who was beloved by many democrats starting making the rounds during the health care debate and was largely against this type of plan.

How does he pay his bills now...Health care companies that would go out of business or lose money with a single payer/universal/option to buy medicare at any age option.

Mortgage applications fall

As Kirk Nace told us would happen, mortgage demand is dropping...Ouch!

Click on the title above or the link below to review the entire BusinessWeek article.
http://www.businessweek.com/news/2010-10-20/u-s-mortgage-applications-fall-by-the-most-in-four-months.html

Is a 2nd wave coming?

Here is a well done, thought provoking piece on the future of the global housing market. Click on the title above or the link below to review the entire Taipan Daily article.

http://www.taipanpublishinggroup.com/tpg/taipan-daily/taipan-daily-092210.html

Are you paying attention???

Click on the title above or the link below to review the entire Wall Street Journal article. Then go back and re-read the 2nd link below, an article written over 18 months ago suggesting the same.

http://online.wsj.com/article_email/SB10001424052748704011904575538453320468516-lMyQjAxMTAwMDEwMDExNDAyWj.html


http://smashedfeet.blogspot.com/2009/03/national-mortgage-independence-day.html

The politics of foreclosure

Click on the title above or the link below to review the entire CNBC article.

http://www.cnbc.com/id/39556948

Do NOT show short sales to a buyer ever under any cicumstance, it's just plain mean!

Yeah, we know several of you aren't going to like that we are sharing this, but if our objective is to help people you aren't doing it by showing short sales to buyers you represent!

If you want a solution or don't understand how to help either your short sale sellers and/or buyers, let us know and we can cover on KYA calls.

Click on the links below to review the entire Yahoo Finance articles.

http://finance.yahoo.com/news/Bank-exec-checked-only-date-apf-3679738570.html?x=0

http://finance.yahoo.com/news/Bank-of-America-delays-apf-4073054242.html?x=0

Real estate is NOT sacred, period!

Click on the title above or the link below to watch the Yahoo Finance video.

http://finance.yahoo.com/video/marketnews-19148628/thomas-barrack-says-real-estate-isn-t-a-sacred-chalice-video-22221358

NO WAY...the government to make the market worse???

Just like Kirk Nace has been sharing, the demand side of the equation is about to take another hit!

Click on the title above or the link below to review the entire CNBC article.

http://www.cnbc.com/id/39419960

August 2010 new home sales 2nd slowest on record.

Average price now back to 2003 levels. Kirk Nace is still insistent that prices will ultimately bottom at 1996 to 1999 levels across the US and in most cases we are 25% + and 5 years + from getting there.

Click on the title above or the link below to review the entire CNBC article.

http://www.cnbc.com/id/39342216

Warren who???

Warren Buffet says we are still in recession and will be for quite some time, but what does he know about economics and finance??? I mean he only has a positive net worth greater than almost anyone and our governmental leaders have been able to create the largest negative net worth in the history of mankind so we should probably listen to them huh?

Click on the title above or the link below to review the entire CNBC article.

http://www.cnbc.com/id/39320992

The market is crashing???

Is Lawrence Yun on his way out at NAR? This article raises the possibility, and it would make sense...

Click on the title above or the link below to review the entire Business Insider article.

http://www.businessinsider.com/pending-home-sales-reconfirm-the-market-is-crashing-2010-9

Attitudes about homeownership have changed.

It's going to be a looong time before values recover and real estate is not a form of wealth building for most.

Click on the title above or the link below to review the entire Philadelphia Inquirer article.

http://www.philly.com/inquirer/business/20100905_U_S__housing_value_down_at_least__4_trillion.html

Should you be bearish or super bearish on the US Housing Market?

Click on the title above or the link below to review the entire New York Times article.

http://www.nytimes.com/2010/09/08/business/economy/08leonhardt.html?_r=2&adxnnl=1&emc=eta1&pagewanted=1&adxnnlx=1284027896-YYGhuRVX9J5E+DA0e/3hTg

Poverty rates growing

How long before 1 in 5 Americans is living below the line? 1 in 5 children are already there!

Click on the title above or the link below to review the entire Huffington Post article.

http://www.huffingtonpost.com/2010/09/11/poverty-rate-in-us-saw-re_n_713387.html

Bank repossessions set new record high August 2010

Yep it's getting better just like NAR and your politicians said it would...are you awake yet???

Click on the title above or the link below to review the entire CNBC article.

http://www.cnbc.com/id/39175282

Housing starts on a rise???

CNBC All of the increase in housing starts was in multi family, single family starts actually dropped again and July's numbers were revised down. Gee, do you think builders are starting to expect that more people will be moving into multi family from single family???

Click on the title above or the link below to review the entire CNBC article.

http://www.cnbc.com/id/39287685