Re: New-home Sales hold steady in LV

On Jul 23, 9:20 am, DocDice <steve_johns...@xxxxxxxxxxxxx> wrote:
On Jul 17, 10:06 am, "Marsha L" <ThoseEye...@xxxxxxxxxxxxxxxxxxxxxx>
wrote:

In today's RJhttp://www.lvrj.com/business/25549439.html

My question would be this.
How can the analyst know where the bottom of this recession is?
It is my suspicion that we will have another 12 - 18 months of this.
We still have banks and lending companies going belly-up .
I don't understand.

DD

Right now we are seeing the slowness due to foreclosures. Next up are
the quit-claimers. These are people that got no money down deals, are
now very negative on the balance sheet, and will simply hand the keys
to the bank and take the hit on their credit rating. The walk away
analysis is tricky since there is no pressure to walk away from their
loss, but the sooner you take a hike, the sooner your credit is
restored.
.

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