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Ground zero - The foreclosure capital of America Ground zero - The foreclosure capital of America
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Old 01-28-2008, 11:17 AM   #1
xmas13
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Ground zero - The foreclosure capital of America
Holy crap

Quote:
In this city of 280,000, 2 out of every 3 houses on the market are being sold under distress.
Stockton, CA.

http://60minutes.yahoo.com/segment/1...prime_meltdown
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Old 01-28-2008, 11:26 AM   #2
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Originally Posted by xmas13 View Post
i heard the northern cali area is fucked. same for a lot of people around LA. they got into these expensive ass houses with an interest only loan for 5 years. once it comes time to pay the prinicpal they are screwed
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Old 01-28-2008, 11:44 AM   #3
PR_Sebas
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i actually just watched all those 60 mins clips earlier, really crazy how it went down... funny that the lendors thought it would never stop
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Old 01-28-2008, 11:48 AM   #4
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saw that video segment...thats fucking nuts
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Old 01-28-2008, 11:51 AM   #5
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yeah watched that last night ... that was scary ... they actually offer a tour of houses in foreclosure for buyers
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Old 01-28-2008, 12:27 PM   #6
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someone will buy up the distressed properties..get the zoning changed and make a fortune
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Old 01-28-2008, 12:30 PM   #7
L-Pink
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Equally fucked are the one out of three that are surrounded by this mess.
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Old 01-28-2008, 12:31 PM   #8
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if you buy it make sure you can pay for it.
its not rocket science.
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Old 01-28-2008, 12:39 PM   #9
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Originally Posted by CheneyRumsfeld View Post
if you buy it make sure you can pay for it.
its not rocket science.
That sounds quite ironic coming from a nick named "Cheney Rumsfeld"
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Old 01-28-2008, 12:56 PM   #10
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Wow, time to swoop in and buy some dirt!
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Old 01-28-2008, 01:14 PM   #11
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What are you guys waiting for, buy em out! Cheap realestate
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Old 01-28-2008, 01:19 PM   #12
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Thats my plan banthis!
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