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2013-06-26 — ml-implode.com

Of course, in some states it will be better at various moments than in others... and 1938 was one of the worst years of the Great Depression.  So what?  We're bumping along the bottom at best.  The bond market is poised to dive... stocks are dependent on one crazy bald economics professor with a beard.  And it's clear we're just going to keep propping up the EU indefinitely, hiding behind the IMF, of course.  If this is a "recovery," you can keep it.

But, make no mistake about it... states like Ohio are circling the drain while nothing is being done to make the situation better for the state's homeowners.  This year and next we're going to see the largest sales of non-performing loans to investors who are only going to be interested in foreclosing , evicting and dumping homes on the market... under market.  Prices will again fall... and then rise... and then fall again, as more inventory is dumped on the market.

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