Thread: Foreclosures jump 9.1% in May

Unemployment claims are rising month after month and now the banks are finally getting back to dealing with distressed properties that were temporarily put on hold do to a mortgage abuse settlement earlier this year.

Welcome to the "Choom Gang" leader's America!

U.S. foreclosure starts rose year-over-year in May for the first time in more than two years as banks resumed dealing with distressed properties after a mortgage abuse settlement earlier this year, data firm RealtyTrac said on Thursday. The $25 billion settlement between major banks and states, formally approved in April, had been expected to jump-start foreclosure proceedings that were previously stalled by uncertainty about the liability of banks. Overall foreclosure activity, which includes default notices, scheduled auctions and bank repossessions, affected 205,990 properties in May, a 9.1 percent increase from April.

http://www.reuters.com/article/2012/...8HD88120120614

Originally Posted by MolonLabe2009

Unemployment claims are rising month after month and now the banks are finally getting back to dealing with distressed properties that were temporarily put on hold do to a mortgage abuse settlement earlier this year.

Welcome to the "Choom Gang" leader's America!



http://www.reuters.com/article/2012/...8HD88120120614

Careful, you'll upset a liberal Obama lover.

Originally Posted by MolonLabe2009

Unemployment claims are rising month after month and now the banks are finally getting back to dealing with distressed properties that were temporarily put on hold do to a mortgage abuse settlement earlier this year.

Welcome to the "Choom Gang" leader's America!

Foreclosures are banks cleaning up inventory after the robo-signing slowdown as you note, no real indication on the current economy.

Initial unemployment claims are down from the ~425,000 per week we saw last year at this time, and down from the 550,000 range we were seeing when Bush left office, and are below the 400,000 per week average when Reagan was president.

I'll certainly take that over what the last guy you put in the WH left us.




http://www.reuters.com/article/2012/...8HD88120120614[/QUOTE]

Originally Posted by Iriemon

Foreclosures are banks cleaning up inventory after the robo-signing slowdown as you note, no real indication on the current economy.

Initial unemployment claims are down from the ~425,000 per week we saw last year at this time, and down from the 550,000 range we were seeing when Bush left office, and are below the 400,000 per week average when Reagan was president.

I'll certainly take that over what the last guy you put in the WH left us.




http://www.reuters.com/article/2012/...8HD88120120614

Yes, because urine is soooo much better than excrement.

Originally Posted by Iriemon

Foreclosures are banks cleaning up inventory after the robo-signing slowdown as you note, no real indication on the current economy.

Initial unemployment claims are down from the ~425,000 per week we saw last year at this time, and down from the 550,000 range we were seeing when Bush left office, and are below the 400,000 per week average when Reagan was president.

I'll certainly take that over what the last guy you put in the WH left us.




http://www.reuters.com/article/2012/...8HD88120120614

[/QUOTE]


With the dramatic reduction of people in the labor pool it stands to reason that there are less people to get laid off so the numbers should drop. The number that should get the attention is the real UE which includes those who left, fell off and are underemployed

it aint pretty out here

Originally Posted by sec

With the dramatic reduction of people in the labor pool it stands to reason that there are less people to get laid off so the numbers should drop. The number that should get the attention is the real UE which includes those who left, fell off and are underemployed

it aint pretty out here

What "dramatic reduction" in the labor pool?

Total Civilian Labor Force:
Jan 2009: 154.236 million
May 2012: 155.007 million

http://www.bls.gov/webapps/legacy/cpsatab1.htm

You really need to broaden your sources of information and quit relying on the RW propaganda channels that are misleading you.

Originally Posted by coolguybrad

Yes, because urine is soooo much better than excrement.

About the sort of analysis and thought I've come to expect from our conservative friends.

Originally Posted by Iriemon

What "dramatic reduction" in the labor pool?

Total Civilian Labor Force:
Jan 2009: 154.236 million
May 2012: 155.007 million

http://www.bls.gov/webapps/legacy/cpsatab1.htm

You really need to broaden your sources of information and quit relying on the RW propaganda channels that are misleading you.

Making 9 Million Jobless "Vanish": How The Government Manipulates Unemployment Statistics

Originally Posted by Iriemon

About the sort of analysis and thought I've come to expect from our conservative friends.

Just as valid as your hopium twist of "things arent as bad as they were".

This is your analysis: "I see two numbers. One is lower than the other. Yep, things are better."

Originally Posted by BestViewedWithCable

Making 9 Million Jobless "Vanish": How The Government Manipulates Unemployment Statistics

Who is Daniel Amerman and why do you claim he is an expert on the subject?