Let's see why the market is falling 250... fluff news one day,
reality next...
1. Ford loses $8.5 BILLION.
2. Home sales still slow (no kidding)
3. Banks accepted bs mortgages
I was in W. Palm for someone Tuesday for business. Had to go sit in
courtroom for them. The case(s) prior to the one I was there for -
was one attorney representing a number of banks in foreclosures.
They did about 20 in the half hour I was waiting - Bank America,
IndyMac etc - all the big ones. One after another - no objections.
They just read the plantiff/defendant then handed over the paper the
judge signed it and next...
Some exclusive communities in the immediate West Palm/Jupiter area -
values down 60-70%. Exclusive gate keepers are now kissing ass to get
you to come into their gate down there - and it's still not worth it.
$8m home now $6m, $3.5m in aug 2007 now $2.1m IF you find someone and
the builder doesn't go bust or build a cheaper version.
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