Housing Crash Part 2? A Massive Second Wave Of Mortgages Reset Starting In 2010

The housing crash of 2008/2009 was one of the biggest financial disasters in American history.  Approximately 6 million homes have been foreclosed on by lenders in just the last three years alone as millions of American families watched their hopes for achieving the American Dream go up in smoke.  Since early 2008, approximately 60 million U.S. homes have lost a combined 5 trillion dollars in value.  It has been an unmitigated disaster for homeowners, lenders, home builders, real estate agents and construction workers.  Now approximately one out of every four U.S. homeowners are “underwater” on their mortgages.  That means that they owe more money than their homes are worth.  If that wasn’t bad enough, it is estimated that by June of this year approximately 5.1 million American homeowners will own a home valued below 75 percent of what is owed.  Can you imagine owing $400,000 on a home that is only worth $300,000?  That is where millions of American families find themselves now.  In some areas of the U.S., the housing market is so bad that it is almost comical.  In California, one bank demolished 16 nearly completed homes because it was cheaper to knock them down than to finish building them.  The worst part is that by all indications, the housing crash is far from over.  In fact, a massive “second wave” of mortgage defaults is on the way over the next three years that could potentially deliver a knock out blow to the U.S. economy. (Read More...)

A Mistake Of Historic Proportions – 11 Reasons Why America Should Have Elected Ron Paul Instead Of Barack Obama

It is more than one year since the American people selected Barack Obama as their leader, and with each passing day it is becoming increasingly clear why the American people should have elected Ron Paul instead.  The U.S. economy continues to collapse, the U.S. government is running up a record budget deficit, our borders are wide open, hatred for the United States is at an all-time high around the world and our individual liberties continue to be eroded as never before.  The American people are becoming increasingly frustrated by the socialist big-government solutions that the Obama administration and the Democrats are coming up with.  But the truth is that both the Republicans and the Democrats have been advocating bigger government, more spending, more debt and more globalism for years, and now we find ourselves on the edge of complete disaster. (Read More...)

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