6 replies to this topic

[zedor]

As I have been saying here -- the outsourcing of US jobs has had a very negative effect on wages in the US and the quality of the jobs this is affecting is going higher and higher up the chain to doctors and engineers and the like. (Hospitals can use a radiologist in India to read and X-ray at 1/20the the cost of having a local radiologist)

So here are the leading reasons for the current crisis according the Countrywide

--Curtailment of income: 58.3%
--Illness/Medical: 13.2%
--Divorce: 8.4%
--Investment Prop./Unable to sell: 6.1%
--Low regard for property ownership: 5.5%
--Death: 3.6%
--Payment adjustment: 1.4%
--Other: 3.5%

Dropping rates ain't gonna change that

http://latimesblogs....causes-for.html

Edited by zedor, 20 September 2007 - 09:17 AM.

[TTHQ Staff]

I think that's what Mark (Young) was saying last week when he talked to his real estate atty. I concur. Thanks for the update.

[humble1]

they are sending the whole patients to india for about 1/3 the cost for operations!

[zedor]

they are sending the whole patients to india for about 1/3 the cost for operations!

I have all my dental work done overseas. The cost saving pays for the airfare and leaves more in my pocket after the cost of the trip. Why should only corporations outsource?

[Data]

Those defaulting loans are only 1 to 3 years old. The problem is the borrower overstated their income. "-Curtailment of income: 58.3%"

[OEXCHAOS]

Those defaulting loans are only 1 to 3 years old. The problem is the borrower overstated their income.

"-Curtailment of income: 58.3%"

Or the mortgage broker did...

I think that this was a huge screw up. Essentially big money put the fox in charge of keeping the henhouse safe. Underwriters were also asleep at the switch...or criminally culpable.

Who gets hurt? Entrepreneurs. Again.

Mark

[blustar]

Not to mention the falling dollar with equal inflation and drop in 'real income' for the average worker. Wages are not keeping up with real inflation. Sure, some things are less expensive now than in 2000 like electronics etc, but housing, food, gas etc. has skyrocketed.