Housing Bubble Bust: Consumption Junkies

The downward spiral of the United States of America: There is plenty of irrefutable evidence on the residential real estate bubble that has come to light. The facts, the greed, the real estate fraud, the indictments, the fines, the convictions the incarcerations, the record consumer debt, the shattered dreams, the bankruptcies and the foreclosures continue to climb. Millions of citizens of this great nation have chosen to become slaves to debt stemming from "artificial equity" being spent on things that people just cannot afford. Real estate appraisal & mortgage fraud along with poor judgement influenced by media propaganda and driven by historic low interest rates are responsible for a destructive economic downward spiral by creating an insatiable housing "frenzy". This housing bubble could not exist if the rules in mortgage lending were kept in place. For decades, the house pricing standard for qualified homebuyers was limited to 2.5 times your annual income. Today, I have read about folks who qualify for up to 12 times their annual income for an interest only "no doc" home loan. In some states this practice is unlawful and is referred to as predatory lending. The residential real estate bubble will be bursting soon. A good indicator is the growing inventory of houses that continue to pile up throughout the nation. Abundant news is available for real estate fraud, predatory lending, the residential real estate bubble, communist China, our nations porous borders, the U.S. deficit, American consumer debt, the failed "two" party political system, and American poverty increasing for the fourth straight year. My personal four favorite journalists that accurately write great articles are Danielle DiMartino, Broderick Perkins, Paul Krugman and Bill Fleckenstein. Thanks to everyone who is actively fighting the real estate propaganda, the political greed of the federal, state and local governments, corporate irresponsibility and avidity, the felonious behavior of real estate agents, brokers, home builders, appraisers, lenders, and other guilty parties that I have failed to mention. The evidence is alarming and shocking in how many trillions of dollars are made by predatory lending that is currently resulting in a 25% default rate. People that could not have qualified for a house prior to the terrorist attack our great nation suffered on September 11, 2001, now qualify for a $300,000 & $400,000 house that is really worth substantially less. It has been documented that the market grew at a healthy rate of .4% from 1975-1995. But in places such as in San Diego, California real estate has gone up more then double! Are you getting the picture yet? Are you with me? It appears that the Federal governments answer to our failing economy after 9-11 was to keep the economy moving through a real estate bubble by lowering the federal interest rate to a record low federal reserve interest rate of just 1%. Almost everything is made in China and outsourcing continues to grow from corporate greed. American consumers are giving China over 50 billion dollars a month which they are using to strengthen their military like the world has not ever seen. Our country transformed from standing as a nation of industry to a nation of providing 'service' and now the service industry has been out-sourced to India along with other jobs such as information and technology (IT). But that is a separate issue. The bottom line is that there are very, very few high paying jobs created every month in the United States. How will Americans remain decent consumers if they do not have a decent job? The nation was deceived into believing that homeowners got rich almost overnight. Take a look at Imperial County California for example. Homes in Heber, Calif (92249) had a 'comp' average of around 45,000 before 9-11. Now check on house prices for Heber, Calif with new homes from Centex and DR Horton producing houses with a price tag of more then $250,000 and climbing. Please keep in mind that Imperial County is infamous for having the highest unemployment in the state of California. If the housing bubble can come to Heber, then it can happen anywhere. Title information is public so please take a look for yourself. People who have no knowledge of real estate have dove into a market and and bought into mess much worse then the infamous internet bubble. Face it folks, we have become a nation of debt ridden consumption junkies. America has nothing saved up and a mountain of debt. The governments idea to correct a failing economy was by offering a record low interest rate in order to have a record number of homeowners that could have never qualified for that new house without some "creative financing" and "rule bending" for some mortgage lenders. Several appraisers chose to break the law by inflating house prices with the 'drive-by' appraisals in many cities throughout the nation. Our largest lenders Fannie Mae and Freddie Mac are nearly out of the game with their debt to loan ratio being so high. Alan Greenspan, (Federal Reserve Chairman) has raised and is raising interest slow and steady to trim down the house buying frenzy. Is it working? Somewhat, now instead of a month supply of houses
nationwide, the United States have just over a seven-month supply of houses and
the inventory continues to grow every month. New house prices have been slashed by more then 100,000 to attract buyers in some areas of Las Vegas not to mention the market crises looming in Florida and other parts of our country. That my friends is just the beginning. The market has peaked and now has begun to valley but the inevitable economic collapse is coming. I do not believe that people who suffered through the horrible depression of 1929 are the ones rolling around in
a SUV that they cannot afford pulling up in a driveway of a recently purchased $700,000 house that was $265,000 three years ago. People who have chose to use the artificial equity in their home as an "ATM card" are going to be in a world of hurt if they are not already. The FBI has received thousands upon thousands of complaints of real estate fraud. There are an increasing amount of reports surfacing for new home builders refunding consumers without admitting guilt for their contribution of real estate fraud. Then there are the poor real estate appraisers that are getting fired for not being a team player for the good old boy network. What agency is defending the appraisers who are actually reporting the lenders twisting
their arm for inflated appraisals? Lenders in many areas are writing loans based on fictitious and artificially inflated prices for this real estate bubble. The appraisers that lack the courage to resist the pressure of evil and destructive lenders should be fined and prosecuted on a much larger scale everywhere that this is taking place. At least some of the real estate appraisers "playing the bubble game" are getting fined and imprisoned for their part in contributing to the residential real estate bubble. Appraisal fraud is a serious and prosecutable crime. This bubble was created from greed and fueled by a combination of fear and ignorance. One day this predatory lending will catch up with the people responsible for creating a nation of slaves to debt. I have to believe that the administration of justice will come to everyone who has willfully committed real estate fraud. If you would like to read more on this growing crises, you may read on the cause and effect of the housing bubble fraud at the following website http://www.mossback.net/bubble.htm

Housing Bubble: Eminent Domain

The decision that was reached regarding eminent domain was a tragic loss for all Americans. The housing bubbles throughout America that were created from the 1% federal reserve rate and creative financing
complimented by appraisal fraud will prove to be destructive next year and in the long run. The government does not need to take land away from Americans to produce jobs. America hardly manufactures anything as of today. Most things are made in China, Mexico, Canada, Taiwan, etc. You may go into any Wal*Mart and look at a random 10 items and
you will find that 9 of them will be made by communist China. America has underestimated the "sleeping dragon" who is profiting wildly in these interesting times. America stopped as a nation of industry after rolling
out NAFTA in 1994. There has not been a 100% American made car since the 70's. Now we have the FTAA and CAFTA on the table that are about to put even more Americans out of a job. This country chose to move from a nation of industry to a nation of "service" and now that service has been and continues to be outsourced to other countries for
cheaper labor and motivated by greed. The government's financial irresponsibility has put this country into a downward spiral and has eliminated the middle class. Consumer debt has reached record
levels and Americans now own less of their house then they did 10 years ago. Is that progression or regression? In the 70's most mothers were home with their children. Now daycare centers practically outnumber 7-11
convenience stores. Parents are not raising their children, television and daycare centers are. If the government was really worried about the future of Americans they would not have allowed for us to be
invaded with illegal aliens, allow for an attack by terrorists and have our markets flooded with cheaply made goods created from slave labor that continue to pile up on Americas retail shelves.
China is already bidding for Unocal. Will China buy General Motors too?
No one will ever convince me that doing more then 55 billion dollars a month with communists is good business. Most Americans are not even aware that China was the third country in world to put a man into
space in October of 2003. The two party political system is a complete failure. It became a failure when "common people" were removed
from the selection process. The government has chose not to fix our porous borders that terrorists enter through(the Minuteman are doing
a better job then the government), the government has not found an answer for the almost 50 million Americans that have no medical insurance, the looming social security crises, our shambolic public
educational sytem that falls lower on the global scale each year, etc.
There are much more serious issues at hand, but time and resources are spent for jackbooted thugs to steal the land from hard working and honest Americans. I love this country because there is no finer land to live in. Many men and women have died to perserve this land and its liberty. I am also proud to be an American. I continue to be disappointed by each new law that is passed to benefit "the haves and the have mores" the "haves and have mores" was ironically quoted by President Bush, amazing how he praised a single mother working three jobs to feed her children instead of creating jobs so that she would only need to work in one! President Buch said it was "uniquely American". Perhaps he wants to make Americans like her the rule rather than the exception?

For more information please visit my website located at
http://www.mossback.net/bubble.htm

Housing Bubble: Imperial County - June 30, 2005

Real Estate Bubble: Imperial County, California Reply with quote Edit/Delete this post Delete this post View IP address of poster
I came across an article in the Imperial Valley Press Today that had some great entertainment value. Here is the article link before I forget:
http://www.ivpressonline.com/articles/2005/06/22/news/news02.txt
For you folks out in the world that don't have a clue about the "armpit" of California called Imperial Valley I'll enlighten you.
Imperial Valley has the highest unemployment rate in the state of California according to The U.S. Census bureau and a recent article from the L.A. times published on June 18, 2005. You may read the article here:
http://www.latimes.com/business/la-fi-caljobs18jun18,1,5823526.story
Four years ago, homes in El Centro and Heber "comp" between 42,000.00 and 80,000.00 if the the house is exceptional with a huge lot. I pulled 15 property reports to look first hand at the monster housing bubble they have going on in "the Valley". The 42,000 dollar houses are now 240,000 - 275,000.
The 80,000.00 dollar houses are selling for 335,000 - 450,000.00.
The average median income reported for this forsaken area is around 28,000.00 Most employment here is from working in the fields with hay and picking watermelons as examples.
The Imperial Valley is a "stones throw" from Mexico and uses quite a few people from Mexico to work in the fields and to build the new houses. You can drive through any of the new housing tracts and see the Mexico license plates left front and center. There are plenty of americans that need jobs so I suspect that if the jobs were at a decent salary then americans would fill them. I do not think an american will stucco a house for 6-7 dollars an hour.
The housing bubble will burst in Imperial County and the "creative financing" will have people turning their keys into the bank just like they have in the past with a few new housing tracts. in the 1990's.
I spoke with a resident who moved into a brand new neighborhood in Heber in 1997. I was told that several of the new houses stayed vacant for up to four months because they were asking 100,000 dollars in a city that has several houses that comp for 35,000 - 45,000 dollars so people working at Wal-Mart and picking watermelons out in the field could afford to buy a house and live close to where their job is located. The education level of the people in Imperial Valley is very low if any, hence the low income that most people in the valley earn or get for free laying around and collecting welfare for knocking out kids like hotbread. Appraisal and lending fraud are felonies. Report Mortgage Fraud to the Federal Bureau of Investigation. An example of mortgage fraud is falsely inflated property values and loans based on fictitious information.
You may file a complaint with the F.B.I. using the following URL:
http://www.mossback.net/bubble.htm
I challenge you to prove me wrong my friend.
Start by pulling comps from 2001 when interest rates were at a historic low and "flipping" wasn't really an issue. You may do a bit of research and investigation when the "bending in lending" started as well as the rampant real estate fraud that has been on the rise. Creative and predatory lending has taken off and americans are in record debt. Some cities for you to check property title information are heber 92249, and El Centro 92243, calexico 92231, Seely 92273 , brawley 92227 and Niland 92257. You will be amazed at the hilarious and perhaps illegal prices that people are getting in the middle of some wasteland desert called Imperial Valley located in California just 100 feet North of Mexico and about 2 hours East of the Pacific ocean. The bubble will pop here the loudest along with San Diego on the west coast. Since when are houses 8 times the median income for perspective buyers? The greed in the valley is out of control and will come to screeching halt shortly.
Since when are houses built before jobs?
You may pull comps using a free trial at the following URL:
http://www.sitexdata.com/

You may find more useful information of the housing bubble here:
http://www.mossback.net/bubble.htm
Invest wisely my friends and make informed financial decisions.....
Back to top r
Well today there was only about 1,100 articles released worldwide about the housing bubble that apparently is a global issue. I am hedging on May 31, 2006 for the correction to take place on or before.

There is a great essay written about the unaffordable housing in San Diego, California. The essay reports on how far out of wack the prices are compared to the the average salaries that are paid.

For the essay go here:
Housing Affordability in San Diego
http://nie.uniontribune.com/events/homewords/home_winner2005_4.php


I read an article a few day ago where it was reported that the median house price was almost 600,000.00 dollars in San Diego and the median salary was reported to be around 48,000.00 dollars. Here is an article from last year where the content is still very accurate. You may view the article at:

More find homes out of reach:
http://www.signonsandiego.com/uniontrib/20040819/news_1b19housing.html

Here is a great article regarding the amount of houses that are not even built that are already posted for sale (flipping)

Unbuilt Houses Flood Listings
http://www.builderonline.com/industry-news.asp?sectionID=26&articleID=145737

Last week I posted information about one of the worst cases of fraud in regards to the real estate bubble in Imperial Valley. Imperial Valley includes but is not limited to the following cities: Calexico, Heber, El Centro, Brawley, Imperial, Holtville, Seeley, Octotillio, Westmoreland, Niland, Bombay beach and "Slap City". Those vities make up the largest part of the infamous valley.
This article was released from the local paper called the Imperial Valley Press.
http://www.ivpressonline.com/articles/2005/06/28/news/news01.prt

The article touches on house prices more then doubling since 2000. Tom DuBose, who owns Development Design and Engineering in El Centro goes on with propaganda about how the current market will sustain itself without job creation. I'm not sure how that is going work. For those of you who missed out on this article released recently by L.A. Times that shows Imperial County has the highest unemployment in the state of California.
Here is the link:
http://www.latimes.com/business/la-fi-caljobs18jun18,1,5823526.story?ctrack=1&cset=true
I am confident that the F.B.I. will investigate the residential real estate bubble. Appraisal and mortgage fraud are rampant throughout Imperial county. If you have been a victim of real estate fraud in Imperial County or anywhere else in the United States, please use the following link and report this felonious behavior.
http://www.mossback.net/bubble.htm

Invest Wisely My Friends

US Housing Bubble: China Prepares For War

The interesting article today goes to the great reporting by Bill Gertz of the Washington Times:
http://www.washtimes.com/national/20050609-120336-4092r.htm

The massacre at Tiananmen Square in 1989 killed thousands of students. The country is Communist and please stop supporting it as a consumer. China is obviuosly preparing for war thanks to the american consumer buying crap left and right that are "Made in China"
Here is an article that reports on China becoming only the third country in the world to enter into space. Russia was helpful in training the Chinese astronauts. China has big plans for outer space. It seems a bit odd that before Bill Clinton became president China couldn't get a rocket to launch across the street and now they are in space(Oct 15, 2003), have nuclear bombs and have very accurate intercontinental ballistic missiles - all paid for by the american consumer buying merchandise "Made in China".
http://www.space.com/missionlaunches/shenzhou5_launch_031014.html

For those of you who do not understand the United States residential real estate bubble and its relationship to the economic boom of communist China please read the following article :
http://www.iht.com/articles/2005/05/20/opinion/edkrug.php

Thank you Mr. Paul Krugman for writing such a great article!

If you care about this country and the future of this great nation, please stop purchasing items that are "Made in China".

Residential Real Estate Bubble : Appraisal & Mortgage Fraud

2 Timothy 4:7 I have fought a good fight, I have finished my course, I have kept the faith:
Less then one year for the residential real estate bubble to burst! The american "sheeple"(people) continue to line up in droves to commit themselves to a debt they could not have qualified for under the traditional mortgage rules and regulations. The introduction of "creative financing" with the mentality of the government for "Americans to spend our way out of recession" was evil. The "evil doers" responsible for the "predatory lending" along with the real estate appraisers, have placed this country into a position for an economic downward spiral that may result into a greater depression then anyone forsees. The real estate industry has exploited the honorable intentions of the record low interest rate that was available(4.0%). I remain confident that the F.B.I will get these felonious individuals that are consumed by the foul spirit of greed that are guilty of creating an enslaved and debt ridden America. Americans continue to destroy their lives one loan at a time. I was just reading an article, where a house that was bought for 60,000.00 appreciated less then a year later to 440,000.00! But the mainstream media continues to tell the american "sheeple" that their is "no bubble" and go ahead and "spend, spend, spend today! American real estate only goes one direction in value - higher?! (yea right..... A healthy real estate value increase is .4% a year like it was in 1975-1995) The article referenced may be read at: The Los Angeles Times Business Journal. I find it to be extremely difficult to watch the american consumer debt just continue to rise along with the national deficit. There was a time in this great country that employers took great pride in paying a salary that was decent enough to allow a mother to stay at home with their children and the couple could afford a nice house and two cars. The american couple owned more of their house back in the 1950's then today on May 30, 2005. There was a sense of responsible spending, discipline and much higher quality of family life. All of this when God remained at the center of our nation and the Ten Commandments were posted in our courts and classrooms! Enslaving a nation through the free will of americans' greed and unsatiable desire seems demonic not democratic. Prepare yourself people for the time is near. The Bible states in the book of Revelation 9:15-16 - And the four angels were loosed, which were prepared for an hour, and a day, and a month, and a year, for to slay the third part of men. And the number of the army of the horsemen were two hundred thousand thousand(million): and I heard the number of them.
Revelation 20:14-15 And death and hell were cast into the lake of fire. This is the second death. And whosoever was not found written in the book of life was cast into
the lake of fire.
Revelation 22:19 And if any man shall take away from the words of the book of this prophecy, God shall take away his part out of the book of life, and out of the holy city, and from the things which are written in this book.
Everyone in this world will stand before God to provide an account for their life. Nothing will be hidden. Repent now and accept Christ before it is too late. The following URL will help you find our living Lord & Savior

Housing Bubble: The Great Crash of 2006

Reading the news can be like sifting through sand to find gold. In the news regarding remarks from Alan Greenspan, please sift through the propaganda in the "soft answers" on the current real estate fraud that is completely out of control in several local markets throughout the United States of America and go straight to the "meat" served in the meal.

Greenspan first is quoted on the unsustainable real estate market, he then goes into admitting that people are borrowing more money then they can afford by stating that "People are reaching to be able to pay the prices to be able to move into a home" (artificial equity?).

Perhaps he should have spent some time "in detail" by speaking on consumer debt shattering records, foreclosures at record levels and bankruptcy at an all time high. Why Greenspan chose not to I really don't know. One may assume many things. Please read this well done article referenced in this posting at the following URL:
http://quote.bloomberg.com/apps/news?pid=10000006&sid=a4L227sKfVnQ&refer=home

http://www.mossback.net/bubble.htm