Foreclosure Mess Deepens

The foreclosure and real estate situation has really taken an interesting turn or perhaps progression. It will be interesting to see how it turns out.

A couple of days ago I mentioned that the reports are really starting to come in about FORECLOSURE GATE. In an article entitled "Foreclosure Mess Deepens, as Experts Fear that U.S. Has Yet to See the Bottom" it starts off with this quote:

"If you think the U.S. housing market is in bad shape now, prepare yourself for the "tsunami" that's coming. That's what at least one financial expert is saying."

It has been my belief for at least two years that this foreclosure mess was going to take a long time to right itself. I do not believe that the housing market (in most areas) has hit bottom, nor do I believe we are even in recovery mode yet. THE BOAT IS STILL SINKING! Last year when all the financial people were saying we were in a recovery, I said "NO!". I don't believe we are in a double-dip, I believe we are still in a single dip. The recession is not over as some say it ended over a year ago. Just because the stock market is up, doesn't mean the recession is over. By the way, watch out for an October Surprise when it comes to the stock market.

I realize I keep repeating myself about not buying a home right now, but I keep hearing of people doing it. And it is not like these people are getting a really good deal, they are not and then they are going into debt bondage to a secular lender who creates money out of thin air. AMAZING!

The solution to the foreclosure situtation and economic situation is to simply let it take its course without any government or Federal Reserve intervention. But that will never happen. It will get worse and they will make it worse in the end.

The good news is this!

If you desire to buy a home in the future 2-5 years from now, there will be some very good deals to be had. So now is the time to prepare yourself. You can do so by doing the following:

Get out of debt.
Get on a strict, but flexible budget.
Develop some other sources of income.
Learn how to do some basic home repairs. Take some courses at a vocational school.
Study your real market, keep an eye on foreclosures.
Consider getting a real estate license just so you can have better access to real estate information.

Those that do these things will have an opportunity to get some good deals.

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