Home Prices Plunge Again in Worst Quarterly Decline Since 2008If you're looking to score a great deal on that cute little home, it turns out you may want to wait a little longer to buy -- like until next year: U.S. home values dropped 3% in the first quarter, their sharpest quarter-over-quarter decline since the dark days of late 2008, according to the Zillow Home Value Index report released Monday.

Based on those results, as well as increases in foreclosures and underwater mortgages, Zillow revised its forecast for when U.S. home values will bottom out. The real estate tracking service now expects home values won't begin to recover until 2012 -- at the earliest -- instead of later this year.

"Home value declines are currently equal to those we experienced during the darkest days of the housing recession. With accelerating declines during the first quarter, it is unreasonable to expect home values to return to stability by the end of 2011," said Zillow chief economist Stan Humphries in a statement. "We did expect substantial payback from the homebuyer tax credits, which buoyed the housing market last year, but underlying demand post-tax credit, as well as rising foreclosures and high negative equity rates, make it almost certain that we won't see a bottom in home values until 2012 or later."

This means prospective home buyers should beware: If they buy now, they stand a good chance of catching a falling knife by the blade, rather than making a smart deal.

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A Bleak Picture Foreclosures, Falling Values


During the first quarter, 97% of the 132 markets that Zillow tracks posted quarter-over-quarter declines in home values: Only Fort Myers, Fla., Champaign-Urbana, Ill., and Honolulu, Hawaii, came out ahead, with increases ranging from 0.3% to 2.4%.

Meanwhile, the 25 largest metro areas in the Zillow Home Value Index not only posted an overall 3% decline in home values but also a new high of 28.4% in which all single-family homes found their mortgages underwater, where home owners found they owed more on their mortgage than the market value of their home.

And in the month of March, alone, one out of every 1,000 homes in the U.S. found itself lost to foreclosure.

Comparing the first quarter performance to that of a year ago, the picture is even bleaker, with the Zillow index down 8.2% to $169,600. Since the real estate market hit its peak in June 2006, home values have plummeted 29.5%, according to Zillow.

If prospective home buyers need additional cause to pause, there are at least a half of a dozen reasons why they should seriously question whether to buy a house now, ranging from the idea that the asset is illiquid to the fact that it's far more expensive than renting. And while the unemployment rate is showing signs of falling, the newly employed looking for a home may be better off waiting until next year, when their incomes will reflect a full 12 months of work, and the benefits of deducting points and interest off a loan may them bring more bang for their buck.

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r.powel46

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November 28 2013 at 2:21 AM Report abuse rate up rate down Reply
zekandzora

At this point in time it is pretty safe to assume that Obama will be re-appointed President. His owners and handlers are surely very pleased with the progress he has made in the implementation of their globalist, fascist, socialist, totalitarian agenda. His honest election would appear to be impossible and you can expect the major media propaganda machine to go full tilt in convincing the population that he is a solid, re-electable President. They will demonize any viable competition. Since the computer voting machines are totally corruptible, as has been proven in the recent past, voting will once again be an exercise in futility.

June 06 2011 at 10:29 AM Report abuse rate up rate down Reply
zekandzora

The entire political process of the USA has been seized by the power of the globalist international bankers and gigantic multinational corporations. Their monopolistic power over the supplies and values of all currencies, via the central banks like our Federal Reserve, has been used to gain control of our political parties and the majority of our politicians and high level government bureaucrats. They own and control the major media which they have turned into a gigantic propaganda mechanism. Our votes have meant NOTHING since Nov. 22, 1963. They could not get JFK to join them in their diabolical plan to enslave America and the whole world.

June 05 2011 at 9:35 AM Report abuse rate up rate down Reply
zekandzora

The Rothchilds were funding the Rockefellers, Morgans (of J.P. Morgan), Lehmans, Vanderbilts, Warburgs, Sterlings, Carnegies, and other major families to create a central bank in the U.S. Three times they tried and failed. Lincoln, Jackson, Jefferson, and Franklin all fought against these powerful men who tried to take control of the government and the U.S. currency.

Then, in 1913 they formulated the perfect plan. They got Woodrow Wilson elected as president and controlled several seats in Congress. The Federal Reserve Act was proposed in 1908 by Nelson Aldrich (whose daughter married Rockefeller’s son). The Act created the “Federal Reserve System” which transferred control of the money supply from Congress to the banking system.

Voting on the Act was scheduled during the strange hours of 1:30 am to 4:30 am on Monday, December 22 1913. There were about 40 substantial differences between the House and Senate versions that were supposedly described, deliberated upon, debated, reconciled, and voted upon in an unprecedented 4 1/2 minutes per item.

At 4.30 am, a prepared report of this Committee was handed to the printers. Senator Bristow of Kansas, the Republican leader, stated on the Congressional Record that the Conference Committee had met without notifying them, and that Republicans were not present and were given no opportunity either to read or sign the Conference Committee report. The Conference report is normally read on the Senate floor. The Republicans did not even see the report. Some senators stated on the floor of the Senate that they had no knowledge of the contents of the Bill.

At 6:02 PM on December 23, when many members had already left the Capital for the Christmas holiday, the very same day that the Bill was hurried through the House and Senate, President Woodrow Wilson signed the Federal Reserve Act of 1913 into law.

THIS IS DOCUMENTED FACT and is how the Federal Reserve was fraudulently created.

June 05 2011 at 9:05 AM Report abuse rate up rate down Reply
zekandzora

The Federal Reserve was the culmination of an effort by the international banking elite to force a permanent private central bank on the American people that began all the way back during the days of our Founding Fathers.

But don't just take our word for it. The following are famous quotes about the Federal Reserve and central banking from past presidents, congressmen and other notable historical figures....

"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States."

-Sen. Barry Goldwater

"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."

-Henry Ford

"The regional Federal Reserve banks are not government agencies. ...but are independent, privately owned and locally controlled corporations."
-Lewis vs. United States, 680 F. 2d 1239 9th Circuit 1982

"The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers."

-Congressman Louis T. McFadden

“The real truth of the matter is, as you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson.”

President Franklin Delano Roosevelt in a letter to Col. Edward Mandel House Nov. 22, 1933.

June 05 2011 at 9:00 AM Report abuse rate up rate down Reply
zekandzora

"Real" unemployment is between 20% and 22%. The numbers are skewed to make it look much better than it really is. They do not want the public to know the "real" truth because the people would get VERY upset. "Real" inflation is currently 10.2% and is expected to top 15% by year end. The inflation rate for 2012 is projected to be about 25%. In the "Core Inflation Rate" calculations they exclude the increased costs of energy, like oil and gas, and food, you know the stuff we have to eat to live. One of the accounting tricks they use in the unemployment calculations is not to count people as unemployed, who are in fact unemployed, when their unemployment benefits expire. They also do not count people who have given up trying to find a job. Many of these people have tried to find jobs for 2 to 5 years and have not found anything. This country has lost more than 11,000,000 jobs since 2001. Jobs are still being exported to slave wage countries. Ross Perot was right when he warned 20 years ago about that "giant ******* sound" as NAFTA was being proposed. That sound is the jobs leaving this country. There will NEVER be a recovery until our nations manufacturing base is returned to this country. Living wage jobs are scarce and getting scarcer each day. $7.25 min. wage is not a living wage. We are rapidly becoming a nation of the working poor. Third world economic status and a drastic depression are on the horizon now. Our nation must be economically destroyed so the people will volunteer to go into the one world government that is now being implemented. The culprits are the international bankers who own and control the privately owned, for profit, tax exempt, money printing monopoly that was deceptively named "The Federal Reserve". It is not Federal and it has no Reserves. It has perpetrated the greatest fraud in recorded human history against the people of The United States. Read the book "The Creature From Jekyll Island" by G. Edward Griffin to gain a documented understanding of the evil that has taken over our government and our whole country. They control both major political parties and a majority of the politicians and high level government bureaucrats. We have been had.

June 04 2011 at 8:26 AM Report abuse rate up rate down Reply
zekandzora

"Real" unemployment is between 20% and 22%. The numbers are skewed to make it look much better than it really is. They do not want the public to know the "real" truth because the people would get VERY upset. "Real" inflation is currently 10.2% and is expected to top 15% by year end. In the "Core Inflation Rate" calculations they exclude the increased costs of energy, like oil and gas, and food, you know the stuff we have to eat to live. One of the accounting tricks they use in the unemployment calculations is not to count people as unemployed, who are in fact unemployed, when their unemployment benefits expire. They also do not count people who have given up trying to find a job. Many of these people have tried to find jobs for 2 to 5 years and have not found anything. This country has lost more than 11,000,000 jobs since 2001. Jobs are still being exported to slave wage countries. Ross Perot was right when he warned 20 years ago about that "giant ******* sound" as NAFTA was being proposed. That sound is the jobs leaving this country. There will NEVER be a recovery until our nations manufacturing base is returned to this country. Living wage jobs are scarce and getting scarcer each day. $7.25 min. wage is not a living wage. We are rapidly becoming a nation of the working poor. Third world economic status and a drastic depression are on the horizon now. Our nation must be economically destroyed so the people will volunteer to go into the one world government that is now being implemented. The culprits are the international bankers who own and control the privately owned, for profit, tax exempt, money printing monopoly that was deceptively named "The Federal Reserve". It is not Federal and it has no Reserves. It has perpetrated the greatest fraud in recorded human history against the people of The United States. Read the book "The Creature From Jekyll Island" by G. Edward Griffin to gain a documented understanding of the evil that has taken over our government and our whole country. They control both major political parties and a majority of the politicians and high level government bureaucrats. We have been had

June 03 2011 at 9:10 PM Report abuse rate up rate down Reply
zekandzora

Margo D. Beller
CNBC

Wall Street Baffled by Slowing Economy, Low Yields: Trader

Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC.

“What we’ve got right now is almost near panic going on with money managers and people who are responsible for money,” he said. “They can not find a yield and you just don’t want to be putting your money into commodities or things that are punts that might work out or they might not depending on what happens with the economy.

“We need to find real yield and real returns on these assets. You see bad data, you see Treasurys rally, you see all bonds and all fixed-income rally and then the people who are betting against the U.S. economy start getting bearish on stocks. That’s a huge mistake.”

Stocks extended losses after the manufacturing fell below expectations in May and the private sector added only 38,000 jobs during the month.

“Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything,” Yastrow said.

“We’re on the verge of a great, great depression and The [Federal Reserve] knows it."

The propaganda matrix responds with.............. "Don't worry, be happy!"

June 02 2011 at 8:17 PM Report abuse rate up rate down Reply
zekandzora

This time, the writers of the bill removed the word “Bank” and called it the “Federal Reserve” to fool the public into thinking it was a Government entity. This bank has NEVER been completely audited and it is about as “federal” as Federal Express.

The FED began taking more control over the U.S. currency and had received threats in the past to dismantle it. The FED itself has admitted to causing the Great Depression but claims that “they’ve learned their lesson”. They did this by limiting the money supply for an extended period of time. Today, the vast majority of American currency is debt money backed by debt (not gold).

The U.S. Treasury prints bills and sells the sheets at $0.02 to the FED. This is basically the cost of printing. They then wave their magic wand and turn it into money and loan it back to the Government at face value plus interest. We are being charged interest on the use of our own currency!!! The IRS was supposedly created by Congress with the ratification of the 16th amendment but it has been well documented (and confirmed in many courts) that it was never properly ratified and there is no statute anywhere that shows Congress creating the position of “commissioner of Internal Revenue” in 1862. Through deception and influence the Bankers had a major roll in creating the IRS so that the American people can pay the Interest on the government’s debt owed to the FED. It is the biggest slight-of-hand robbery of all time.

The American people have been hoodwinked and have been fooled into thinking that the Federal Reserve Board is controlled by the Government. It isn’t. It is a transfer of wealth from the poor and middle class (who borrow most of this money created out of thin air) to the powerful bankers and Wall Street investors.

Here is a quote from the former head of the Boston Federal Reserve Bank that explains it in its most simple form,

“When you or I write a check there must be sufficient funds in our account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money.”

Even Woodrow Wilson realized what he had done later in life and was quoted:

“A great industrial nation is controlled by it’s system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world– no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men.” — President Woodrow Wilson

“The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people’s money” – Charles A. Lindbergh Sr., 1923

“From now on, depressions will be scientifically created.” — Congressman Charles A. Lindbergh Sr. , 1913

“We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it.” — Congressman Louis T. McFadden in 1932 (Rep. Pa)

“Give me control of a nation’s money and I care not who makes it’s laws.”– Mayer Amschel Bauer Rothschild (Bank of England)

“Banks lend by creating credit. (ledger-entry credit, monetized debt) They create the means of payment out of nothing.” — Ralph M. Hawtrey, Secretary of the British Treasury

“Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States.” — Sen. Barry Goldwater (Rep. AR)

“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance.“ — President James Madison

May 22 2011 at 7:37 PM Report abuse rate up rate down Reply
zekandzora

But even after America won, it didn’t stop. The Rothchilds were funding the Rockefellers, Morgans (of J.P. Morgan), Lehmans, Vanderbilts, Warburgs, Sterlings, Carnegies, and other major families to create a central bank in the U.S. Three times they tried and failed. Lincoln, Jackson, Jefferson, and Franklin all fought against these powerful men who tried to take control of the government and the U.S. currency.

Then, in 1913 they formulated the perfect plan. They got Woodrow Wilson elected as president and controlled several seats in Congress. The Federal Reserve Act was proposed in 1908 by Nelson Aldrich (whose daughter married Rockefeller’s son). The Act created the “Federal Reserve System” which transferred control of the money supply from Congress to the banking system.

Voting on the Act was scheduled during the strange hours of 1:30 am to 4:30 am on Monday, December 22 1913. There were about 40 substantial differences between the House and Senate versions that were supposedly described, deliberated upon, debated, reconciled, and voted upon in an unprecedented 4 1/2 minutes per item.

At 4.30 am, a prepared report of this Committee was handed to the printers. Senator Bristow of Kansas, the Republican leader, stated on the Congressional Record that the Conference Committee had met without notifying them, and that Republicans were not present and were given no opportunity either to read or sign the Conference Committee report. The Conference report is normally read on the Senate floor. The Republicans did not even see the report. Some senators stated on the floor of the Senate that they had no knowledge of the contents of the Bill.

At 6:02 PM on December 23, when many members had already left the Capital for the Christmas holiday, the very same day that the Bill was hurried through the House and Senate, President Woodrow Wilson signed the Federal Reserve Act of 1913 into law.

THIS IS DOCUMENTED FACT and is how the Federal Reserve was fraudulently created.

May 22 2011 at 7:34 PM Report abuse rate up rate down Reply