The government and mainstream media would like us to believe that the HOUSING Market is coming back. The truth is our housing market is in the worst shape it has ever been in.
According to Janna Heron of The Associated Press: "Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and industry experts say more people will miss payments because of job losses and also loans that exceed the value of the homes they are living in." Read the rest of the story here.
This year will see the largest number of foreclosures since 2006...and all the lies, creative accounting, and propaganda won't change that. The bailout and stimulus money that was spent by our government to prevent this type of collapse was wasted. Instead of extending credit to people so they could buy a home the banks chose to keep the money and improve their bottom line...and our children will be left holding trillions of dollars in National Debt...all so the Banks could be wealthier and more powerful.
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