"No matter how paranoid or conspiracy-minded you are, what the government is actually doing is worse than you imagine." - - - William Blum

April 08, 2005

The first sign of the impending collapse of the economy???

Home Foreclosure Listings Surged in March, Study Shows (snippet):

By Janet Morrissey The Associated Press - Published: Apr 7, 2005

NEW YORK (Dow Jones/AP) - In what could be a crack in the housing market's sturdy foundation, the number of foreclosed homes put up for sale rose 50 percent between February and March, according to a new study by Foreclosure.com. The increase is one of the biggest monthly spikes Foreclosure.com has seen since it began tracking the market in 1999, according to Jim Houston, vice president of the foreclosure listing service. The survey, released Wednesday, showed 28,190 foreclosed homes were put up for sale across the country in March, which is 50 percent more than in February....

If you own your home, now is the time to think about selling. You just cannot predict how fast the bottom is going to fall out of the real estate market. There is absolutely nothing in existence (except possibly foreign holders of US Treasurey bonds who still think their investment is sound) that will keep our current minor recession from morphing into possibly the worst economic collapse in U.S. history. I would give anything to be wrong about this, but I've yet to see anything that will prevent it. Go ahead, prove me wrong.

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