Now the nice locations are hit by foreclosure!


Home crisis is hitting the nicest bed room communities i.e the so called suburbia. It is not the most vulnerable inner cities folks anymore. This crisis is hitting our middle class now who were not considered vulnerable before. Unfortunately, only window dressing has been done by Obama administration in the shape of HAMP. Truthfully, it is the band-aid treatment for this widespread crisis. We should know that unless the home crisis is not solved, no real economic changes can come. It was the TV gurus who were bombarding all of us to buy real estate, real estate, real estate and the mantra of location, location, location only. Locations my foot. All these homes good or bad locations are being drowned in this mess. Now, we all were duped, they have conveniently escaped and coming back to haunt us. The loan officers who used to make 2, 3, and four points are offering loan modification. They have changed their hats and come back to taunt us again. The lenders have given loan to everyone and never asked a single questions, now they are offering various schemes to safeguard your homes again. The cities have approved every zoning request, and given permit to every builders without any regard to zoning, demographics, density of population, needs for more water and sewage consumption. If you had gone to both city hall and Clark County zoning, and permits offices, they were busy churning out new permits and licenses non stop for new homes and constructions. They are continuously laying off people now. Could not have they realized this crisis? Shamelessly, they kept on increasing their fees, licenses, and keep on hiring more inspectors and ignored the shoddy constructions. The escrow companies provided and facilitated every home closing, and the real estate agents vouched to sell every home they can think of. Now, what? We are in a mess, and no one is helping a hand to solve this epoch crisis of Himalayan proportion:

http://www.boston.com/news/local/articles/2010/02/28/foreclosure_crisis_spreads_to_affluent_communities/

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