10 Cities Facing a Double Whammy of Default Risks

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Remember the savings and loan scandal in Texas way back when? Remember who was behind it? Ummmm....does it begin with a B perhaps. Remember the first bail-outs? ummmm Does that name begin with a B too? ummmm ...remember the last B governor of Florida? ummmm. This entire property crash, bank crash, was just another B FRAUD in a long string of them...PLANNED and EXECUTED by the NEW WORLD ORDER. The C frauds were clear too...Mr. C. himself prepped the way for the B's to make the kill.
If the truth be told. Florida is in much, much worse condition then the media tells us. In fact, I bet the unemployment here is close to 30% for real. Practically every household I know has at least one unemployed breadwinner and all the rest of us are underemployed.
OB continues the B, C fraud and so it goes. We the people are so screwed.
We must vote every incumbant out and start over. They are the problem as are we if we fail to stop them.

Linda Lee of FL 9:42AM May 30, 2010

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lloyds 3:49PM May 03, 2010

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http://www.youtube.com/watch?v=4Ynb...

JC of KY 5:44PM May 02, 2010

Remember when Congress decided to do away with income tax (or capital gains tax) on gains on sales of most residences, as long as the seller lived in the house for more than 2 of the last five years? Why does no one ever write about how this contributed to the housing "bubble" of prices?

Muser of NM 11:14AM May 01, 2010

Looking at some obscure place like Heber (92249) just south of El Centro located in California. Before the Housing Bubble started in 2001, the comparable sales data shows many of the houses in the town of less then 3,000 people to sell for around $45,000. More then 22% of the population in Heber lives below the poverty line. Imperial County ranks among the highest (27.3%) in the United States for *unemployment* and is frequently #1 for *unemployment* in the State of California. In 2006 there were a couple of national builders selling houses in Heber for more then $300,000. Question: What *method* did the real estate appraisers use in Imperial County California to go from around $45,000 to well over $300,000 for "comps" in a place where the median income is below $30,000 in a county that ranks number one for unemployment in the state and has more then 20% of its population living below the poverty line?
http://articles.latimes.com/2010/mar/11/business/la-fi-cal-jobs11-2010mar11

arcticblueice of AK 10:14PM April 30, 2010

New Jersey has some pretty bad cities that face defaults as well. Camden and Jersey city are extremely unstable areas to live in mainly due to all the teals that live there. Take your money and INVEST!

Hart Welles of NJ 11:21AM April 28, 2010

The idea that everyone should own a "home" is a grand one. The only caviat is that you must be able to pay the "note", the utilities, the insurance, taxes,and maintence. When homes were GIVEN to the homeless they were destroyed in one season when the JOBLESS and homelee couldn't pay the heat and electric and started fires to heat and lighrt the home and set the house on fire. The FREE LUNCH became a disaster. The unemployed have the same choices. Do I make the house payment, insurance payment, utilities car payment or buy groceries and medicine? TOUGH CHOICES AND STILL NO MORE FREE LUNCHES.

Lee Hansen of MI 4:29PM April 27, 2010

The problem is worse than we're lead to believe. When you consider the government's 9.7% unemployment rate to the 21.9% rate of true unemployment you can see just why things are so risky with the housing market. The Commercial Real Estate (CRE) market is also taking a tumble, and will continue to do so for some time. There's more bad news coming just around the corner!

Barry W. Shook of IN 2:15PM April 27, 2010

Yeah Doug that's the ticket! Slap some duties on the imports. Check out the history books on how the Smoot-Hawley Act worked out for the US.
The USA has become complacent and entitled. Don't worry Johnnie, we won't keep score at the soccer game. Everyone WINS!
The check is here and its time to pay the bill.

Joe Money of AZ 5:39PM April 26, 2010

No. It's all about $$. When you go to the store don't let go of your $$. Don't buy every stupid thing you see, every pretty shirt or shoe. When you buy food, buy what you need. When you drive, make one trip not 6, combine them all and save time and money. Just step back for a minute and look around at what we have surounded ourselves with over the years that we thought we HAD to HAVE. CRAP. And now it is old CRAP. You paid $4.00 for it and now it is worth $.25 (maybe) Yes, you threw away that money, no government took it, you threw it away. So, stop throwing it away.

Markymark of MA 4:28PM April 26, 2010