Another warning sign on foreclosures

One of the few bright spots appears to the performance of the Boston area,

From your own newspaper:

Lenders in Massachusetts filed 13,813 foreclosure petitions - the initial step in the foreclosure process - during the first six months of 2009, an increase of 5.6 percent from the same period last year, according to data released yesterday by Warren Group, a company that tracks local real estate data. In June, 2,835 homeowners received foreclosure notices, up 21.7 percent from May.

It takes effort to master this material.

Will rising foreclosure rates swamp the housing recovery?

Hopefully not, but this race looks too close to call just yet.

Fresh bear bait, but I'll take it. For the umpteenth time on this blog, low home prices are a good thing, housing is an expense, housing is an expense, housing is an expense...

Full disclosure, I own numerous properties (all unencumbered), so I am not a disgruntled/angry renter, just an advocate of letting free markets work.

Ignore the Orwellian headlines and look at the numbers. There is NO housing recovery. We are not even close.

As for MA foreclosures falling 40%... There is a landmark case before the MA courts which is creating a huge backlog of foreclosures. If a verdict is reached in favor of banks, the floodgates will open.

The imaginary housing recovery?

I have heard enough idiot talk about this so called housing recovery. The correction has just begun, and it will continue for years to come, fueled by option ARM and alt -A forecloses.

I' m sure Barney Frank and his team of degernerates will come up with more schemes to pass the pain on to the tax payer. The Moroncrats are very good at punishing the responsible and rewarding the incompetent and greedy.