August foreclosure filings highest since Jan 05 | Reuters

http://www.reuters.com/article/businessNews/idUSN1734756020070918
This is news... today.
Will the FED half point rate cut stop the real-estate slide?
I really doubt it as who will be the house buyer to step up with wallet in
hand and say:
"This is the R-E market bottom. So now is the time for me to buy."
I think most folks see it as a falling knife and will continue to keep their
wallets in their pockets.

A couple of other issues to consider the Fed had already cut rates to banks
in an unofficial move a couple of weeks ago. So in affect this maybe a 3/4
to one point cut that's now in effect.
The ARMS are continually resetting and a large number will reset in the last
three month of this year as well as through 2008. Which will just continue
to flood the R-E mkt with homes that people cannot any longer afford to buy
or live in. Homes today are more than double the size of homes built in the
fifties.
Where we smaller or dumber then? I doubt it.
So it's heat, cool and landscape everyone's 'own' monster until we get 'the
letter' in the mail.

Also their is the dirty little secret that allot of folks have continued to
use the appreciating mkt price of the 'dwelling' to borrow more by
refinance... but no longer. And it wasn't all boats and snow mobiles coming
out the other end. They where paying down debt and buying groceries. Or
maybe even their taxes to defend democracy and the F word in the middle
east.

Will our noble leaders recent proposals to bail out the home mortgage holder
who is going under actually happen?
I'm seeing some analyst stating it sounds good and Fanny May and Freddy Mac
are going to be the piggy bank of last resort for these folks.
Unfortunately, the F's are unofficially insolvent as they haven't been able
to submit clean paper to the auditors in a few years. Definitely not a good
sign if anyone is thinking of handing them bad house paper for new coin.
Good money chases bad. It's been known to happen. But not here, it's... bad
catches bad.

Also in this attached article they mention Nevada by which they must be
referring to Las Vegas. Reno is now a ghost town since the California
Indians are now just giving away the wampum.
So who is moving to glitter and false gold at this time?
'Climate Change' translates for that SW area as turning up the oven.

And of course, you are right that's what the A/C is for and which is
attached to the electric meter and which is attached to the generating plant
and which burns coal and natural gas and which is attached to the
atmosphere.

And crude oil closed at $82 today which is up about a buck and half for the
DAY.
DOW up $335.
Translated...The dieing man gets the news official: It's leukemia! But worry
not we are giving you a transfusion!
So the neighbors then run out and buy stock in the a Hospice." We will be
rich" they all shout.

Then theirs Phoenix (something to do with ashes as i recall) the fastest
growing tumor in the south west. And besides who needs water when theirs so
much sunshine to enjoy?
So at some point and i feel soon we will have to stop running and
acknowledge running and expansion are not working for us.

It seems we are a consuming Hoover vacuum for the world and for some reason
we have equated collective gorging with happiness and for some godliness.
"Our god given right" is the term sometimes mentioned.
And if you think I'm diverging from the topic pull a buck from your pocket
and see who we trust with our money. It sure aint ourselves.

So will a national recession bring us to our senses? I doubt it! But i bet a
national depression will give us allot more time to ponder the bumpy road
ahead.

And I appreciate Harold forwarding the attached Reuters article it's a good
one.