Economy/housing industry to get worse??

I received this in my email and felt it informative to post here;

FHA just gave the go ahead to flip houses to FHA buyers. Why do you think that is? Perhaps they know things are going to get worse, so they need to start moving more inventory (properties) ASAP.

Here's why:

#1 While the subprime crisis may be showing signs of stabilizing, the ARM crisis is just beginning to rear its ugly head.


According to one business journalist:

"The big wave of Option ARM resets has yet to come, and given the drop in home prices, refinancing won't be realistic."

#2. Municipal Defaults:
yep, local towns and counties are feeling the pinch with foreclosures and tax defaults draining their coffers. And when a town goes broke, it will put their resident's property even further underwater.

#3. Commercial Real-Estate Collapse:
The second largest chain of malls has already declared bankruptcy. Obligations needing refinancing in the commercial market are in the trillions. And most of them, even with positive cash flows, are as underwater as residential mortgages. As these businesses crash, they will cause even more unemployment.

#4. Loan modifications aren't working.
Unless and until there is meaningful principal reduction, most people getting a loan modification will stop making their payments if they are $100,000+ upside down on their home. And there are A LOT of people upside down. Look for lots of "jingle mail," where the homeowner just sends back the keys, in 2010.

Look, you can either be a victim or victor of this economy!!

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