Hi,
Have you ever considered the plight of being lost on a boat in a salt water sea/ocean? Your water supply eventually runs out, you're alone on your boat, clock's ticking, and eventually you're going to get thirsty. However, the moment you take a drink of that water, boom, you need more water, but it's salty, so you get the picture. Nasty dilemma.
So, I was thinking about banks/lenders, all their foreclosures, and, salt water.
You see, it seems to me that if these gate keepers continue to collect all these foreclosures they have, oh, like about 3 choices:
1. REO some of them
2. Short Sale some of them
3. Auction some of them
(Feel free to inform me if you feel I've missed an option.)
And as I was thinking about this, and in light of considering certain states with overwhelming amounts of this kind of activity - with more demonstrating clear evidence they're on the same path - I was thinking, would I be wrong in considering the predicament of the banks/lenders actually becoming THE market, rather than a majority of what we might grant as 'conventional' sale efforts?
And if you'll grant me that, if the banks/lenders become the dominant sale of property inventory, well, wouldn't it also then become true that by default they will (literally) "choke themselves out" (I am an ex-fighter, excuse the clumsy metaphor) due to each sale being lower than the next sale, thus creating a vortex that only they, themselves, will eventually be able to stop..?
(I'm leaving out some detail here, but it's late, I am tired, and you'll have to fill in a few blanks.)
Okay, if I am even remotely correct, then wouldn't it be also safe to predict that if these genius banks/lenders in control of their own vortex of doom don't get together and figure out how to cease the downward spiral they've now created (and will continue to feed) that we'll soon need a "Rooseveltian 'New Deal'" the likes of which hasn't been seen in most anyone here's lifespan..?
I realize this is only a partial thought, but I tend to think conceptually, so if anyone has an opinion on this thought, please, let me know of it, because as as of last Saturday when this idea became clear to me I must admit I (more or less) was stunned by the possibility.
I think we're about to enter into a period of financial panic unlike that which has yet to have been publicly stated and acknowledged, and unless a clear cut solution, unless critical leadership kicks in, there is going to be what is commonly known as, "Hell to pay," and it will begin to reach critical mass before Winter of this year. And it will be beyond the average American property owner's control.
Methinks these banks/lenders are swimming & drinking in a salt water of their own creation right now, and I do not foresee any relief coming unless they have a stash hiding somewhere unbeknownst to us.
Your thoughts are welcome.
Dave...
Have you ever considered the plight of being lost on a boat in a salt water sea/ocean? Your water supply eventually runs out, you're alone on your boat, clock's ticking, and eventually you're going to get thirsty. However, the moment you take a drink of that water, boom, you need more water, but it's salty, so you get the picture. Nasty dilemma.
So, I was thinking about banks/lenders, all their foreclosures, and, salt water.
You see, it seems to me that if these gate keepers continue to collect all these foreclosures they have, oh, like about 3 choices:
1. REO some of them
2. Short Sale some of them
3. Auction some of them
(Feel free to inform me if you feel I've missed an option.)
And as I was thinking about this, and in light of considering certain states with overwhelming amounts of this kind of activity - with more demonstrating clear evidence they're on the same path - I was thinking, would I be wrong in considering the predicament of the banks/lenders actually becoming THE market, rather than a majority of what we might grant as 'conventional' sale efforts?
And if you'll grant me that, if the banks/lenders become the dominant sale of property inventory, well, wouldn't it also then become true that by default they will (literally) "choke themselves out" (I am an ex-fighter, excuse the clumsy metaphor) due to each sale being lower than the next sale, thus creating a vortex that only they, themselves, will eventually be able to stop..?
(I'm leaving out some detail here, but it's late, I am tired, and you'll have to fill in a few blanks.)
Okay, if I am even remotely correct, then wouldn't it be also safe to predict that if these genius banks/lenders in control of their own vortex of doom don't get together and figure out how to cease the downward spiral they've now created (and will continue to feed) that we'll soon need a "Rooseveltian 'New Deal'" the likes of which hasn't been seen in most anyone here's lifespan..?
I realize this is only a partial thought, but I tend to think conceptually, so if anyone has an opinion on this thought, please, let me know of it, because as as of last Saturday when this idea became clear to me I must admit I (more or less) was stunned by the possibility.
I think we're about to enter into a period of financial panic unlike that which has yet to have been publicly stated and acknowledged, and unless a clear cut solution, unless critical leadership kicks in, there is going to be what is commonly known as, "Hell to pay," and it will begin to reach critical mass before Winter of this year. And it will be beyond the average American property owner's control.
Methinks these banks/lenders are swimming & drinking in a salt water of their own creation right now, and I do not foresee any relief coming unless they have a stash hiding somewhere unbeknownst to us.
Your thoughts are welcome.
Dave...
