Who knows what the real numbers of new foreclosure filings are and who really cares what the wave of new foreclosures (whatever the number is) means.
Let’s all just keep focused on the important things….filing new foreclosures and churning the old ones.
Why, at this rate, we’ll be able to keep burning this fire for…I don’t know….
Old foreclosures pending + Lots of new foreclosure filed= Florida, the Foreclosure State!
But with new construction starts ground to a halt, that means there’s no new wood to add into the fire…so will the foreclosure fire burn out all its fuel leaving behind only a charred and barren wasteland?
And still, even through all this, the smart people sitting in the big marble buildings keep screaming….
WE’VE GOT AN ECONOMY TO GET MOVING, THROW MORE FORECLOSURES IN THE FIRE!
Why, it’s as if the fraudclosure industry is the coal we’re using to fuel the locomotive that is our economy. (Although given the breadth of this nightmare it’s more like fraudclosures are the nuclear fuel at the core of this perpetually active fuel cell.)
Here’s the story from the Times:
Once again, Tampa Bay leads the nation in foreclosures, by a lot.
The number of bay area properties receiving a notice of default, scheduled auction or bank repossession jumped nearly 18 percent from March to April according to a RealtyTrac report released today.
Year-over-year, the jump topped the nation rising 59 percent; Miami placed second with 38 percent.
Notices for scheduled auctions and bank repossession accounted for about 59 percent of the 4,295 filings last month in the bay area, the report said. The filings indicate banks are attacking a glut of homes near the end of the foreclosure process.
That’s good news.
(Huh? That’s the good news? Well what kind of a twilight zone am I living in, pass the champagne!)