The KC Biz Journal reports bad news for d-bags who still believe that the end to The Great Recession is in sight: "Foreclosed homes accounted for almost 22 percent of all residential sales in the Kansas City market in the second quarter of 2010, according to RealtyTrac Inc.’s second-quarter 2010 U.S. Foreclosure Sales Report."
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The Obama Autumn of Recovery...
ReplyDeleteIt's because people were suckered into buying homes and thinking they were this investment that will gain 50% returns. Obviously a home is just a home and should never be considered an investment.
ReplyDeleteKansas city broke
ReplyDeleteNot obama, it was the lenders who turned around and sold those risky loans to big companies that needed to be bailed out by taxpayers... all long before Obama showed up.
ReplyDeleteSo a bunch of people that had a hard time meeting rent thought it would be a good idea to buy a home? Huh, those folks were encouraged to take on a burden they -shoulda-coulda-woulda- figured out if they had any edumacation that they couldn't handle. And banks were basically forced to lend them money for such homes with no strings attached?
ReplyDeleteAnd we're surprised that this grand social experiment failed?
Destroy all post secondary schools that teach economics. Our country is ruled by idiots. They have idiots following them blindly.
-Danger Will Robinson -Danger Will Robinson.
Don't buy a house unless you can afford it. It isn't always better to buy. If you're a renter and furnace gives out, you call the landlord. If you are the owner, you have to get it fixed.
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