Appetizer For Destruction

With the subprime mortgage crisis crushing Las vegas in more ways than one in 2009, does 2010 have a lasting aftertaste or was 2009 just the appetizer to a 5 course meal of economic and real estate destruction. Opinions are grand and shallow in this realm of discussion with much thought on the weakening US dollar and not enough emphasis on John, Mary, their 3 kids and 2 dogs beats by dre that may be foreclosed on in the next 3 months.

Everyone talks about how bad the crisis is hitting the Las vegas Home Rentals and the Las vegas area but the fact of the matter is not that we have the highest foreclosure rate in the country nor that our metro area is consistently one of the top five worse in our nation. Its beyond that, its beyond the quote unquote bad loans the Wall Street promoted more than Mc Donalds over a billion served. People eat fast food 4 times a week and then wonder why we have most unhealthy and inactive nation. The government offers these loans to a below income based American and lets not forget that any illegal immigrant could also apply for by have a beats pas cher heart beat and a light fog of breath on a mirror. The mirror at points being an option is this matter. All to make them a quick billion bucks then wonders why people that never showed any income cant really pay for their house. That to me is like someone saying a desert isnt thirsty.

The crisis entails homeowners losing their houses after they are unable to afford their mortgage payment. This was brought about by our Government not only allowing but monitorial promoting banks and lenders to giving risky loans, or subprime mortgages, to people with low income and poor credit scores. Not only did low interest rates first attract such homebuyers, but the thought of making 100K overnight wasnt a bad thought either. However, as many loans were adjustable rate mortgages (Arms ), higher interest rates a few years down the road made payments unbearable, leading to foreclosure. Furthermore, there were a large number of investors who bought homes at the height of the market and expected to flip them for a profit, only to see values decline.

Whats going to happen this year in 2010? In my opinion I believe 2009 was only an appetizer to then an uncontrolled, now more knowledgeable still uncontrolled meal. I think 2010 will cut a little fat off but the moncler pas cher mass amount of carbs will still be there. Arms are still coming due, workers are still losing jobs, familys will still lose their homes, the government will assist with more programs that work for few and dont for many. Homelessness will arise greater then we have seen in our life time. Demise of once prosperous communities will come to the forefront of headlines. All we can do is hope for the best, get up with a smile on our faces, walk outside to blue skies, green grass and roses lining the walk way. We live in a world of chance and gamble where are you placing your bet? I know where mine is.