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David's Macro Blog

Analysis and commentary on business, economics, real estate, financial markets, and other fun topics


Archive for September, 2010

By now we’ve all heard or read stories about disillusioned home owners (home debtors really) who haven’t made their loan payments in quite a while but feel that everything will work itself out. They may be working on a loan mod, short sale, principal reduction, or just the “free rent” program.

What tragic commentary on the situation we’ve created! The credit bubble bursting made 25% of home loans under water and foreclosure a likely outcome. There will be a whole generation of home owners and their children scarred by this experience just like the Great Depression.

Hat tip – Jim Klinge

Favorite Quotes

Realtor – “My name is Randy and I am a local Realtor…”

Homeowner – “Oh yes, I am quite aware that many of you low-life blood sucking vultures…”

”but we are in the middle of a loan modification so we are just FINE!

“I don’t mind at all you blood sucking vampire…we are behind 17 payments just like the rest of our social climbing friends.”

Realtor – “It appears I am too late, and you will keep your head buried in the sand because you actually believe you are going to get your loan modification…”

The Daily Show With Jon Stewart Mon – Thurs 11p / 10c
A Nightmare on Wall Street
Daily Show Full Episodes Political Humor Tea Party

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