What We learned will have devastating ramification for the real estate marketing and in turn the entire financial and stock market and the broader economy as a whole.

If true…our real estate fate is seal. There will be more housing and real estate foreclosure carnage ahead. The road is long.

Prepare yourself and protect your family from this coming economic catastrophe.
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From L.A Times:

Bulk of bank-owned homes aren’t even on the market yet
“Banks to unleash flood of REOs” at Inman News looks at the effect of foreclosures on the housing market this year:

Inventories of unsold homes are likely to swell in coming months as lenders begin to push a growing backlog of repossessed homes up for sale — often in communities already awash in distressed properties….

Because it can take weeks or months for lenders to put repossessed homes on the market, the impact of real estate-owned (REO) properties on inventories lags behind foreclosures. Government efforts to recapitalize banks through the Troubled Asset Relief Program (TARP) and other bailout measures may also have taken some of the heat off of lenders to unload REO properties at fire-sale prices.

But with the emphasis of TARP and other government relief efforts now expected to shift to creating jobs, helping troubled borrowers avoid foreclosure and providing incentives for home buyers, lenders could soon unleash a torrent of real-estate owned, or “REO” properties — even in markets already flooded with an oversupply of homes for sale.

“It’s almost like a tsunami — you can see it coming and you know it’s going to hit but you can’t get out of the way,” said Ann Stickel, vice president of affiliated services with Sarasota, Fla.-based brokerage Michael Saunders & Co.

So how many bank-owned properties aren’t even on the Multiple Listing Service yet? RealtyTrac senior vice president Rick Sharga puts the number at 75%. That’s a lot of houses.

1.5 Million foreclosures since June 2009, an increase of 15% since June 2008.

Realtytrac SVP Rick Sharga on the latest foreclosure report.

Foreclosure filings reach a record in the first half of this year. (Bloomberg News)

Analysis and Discussion with Rich Sharga of RealityTrac

60 Minutes special. Get out of Dollars and the US Stock Market. There is going to be a run on the dollar soon as China becomes a net seller of treasuries instead of a net buyer like they are currently. They just announced a 600b bailout of their own, how do you think they will pay for it? Dump their 1Trillion plus in US treasuries. The game is up. In 2010 a hundred US dollars wont even buy you a case of beer.

Whitney Tilson is an author, investor and businessman who also writes for financial publications. Tilson writes a regular column on value investing for the Financial Times, and has written extensively for both the Motley Fool and TheStreet.com. Whitney Tilson has been featured on 60 Minutes, was on the cover of the July 2007 issue of Kiplinger’s, was named by Institutional Investor as one of 20 Rising Stars, was included in SmartMoney’s Power 30, he has appeared numerous times on CNBC, Bloomberg TV, Fox Business Network, Lou Dobbs Moneyline and Wall $treet Week^[1].

Tilson is a disciple of the Graham-Dodd -Buffett-Munger school of value investing, and was one of the authors of Poor Charlie’s Almanack (ISBN 1578645018), considered by many to be the definitive book on Charlie Munger.

Among his other interests is teaching a course on financial statement analysis and business valuation for The Dickie Group. He has appeared as a guest on CNBC, Bloomberg TV, Lou Dobbs’ Moneyline and Wall $treet Week.

He co-manages T2 Partners LLC with Glenn H. Tongue; this comprises three value-oriented private investment partnerships and the Tilson Mutual Funds, composed of two value-based mutual funds, Tilson Focus Fund and Tilson Dividend Fund.

Tilson is also the co-founder, Chairman and co-Editor-in-Chief of Value Investor Insight, an investment newsletter, and is the co-founder and Chairman of the Value Investing Congress, an investment conference that takes place twice per year, in New York City in November and Los Angeles in May.

Here are some videos of a tent city / shanty town that has popped up in the suburbs of Southern California. I’ve never seen anything like this in America since the great depression. At first it seems as though many of the residents had lost their houses due to the mortgage crisis, and I am sure some had, but it seems rather that most here have just fell on hard times due to the economy in Souther California in general. The tent city has been removed by the city and no longer exists to my knowledge. We only went there a few times, as our major work is in Los Angeles with the homeless on Skid Row.

Is a campground the solution to the problem of homelessness? The California City of Ontario thinks so.

Tent cities have sprung up outside Los Angeles as people lose their homes in the mortgage crisis.

Some people backpack for fun. They consider carrying all of their food and belongings in extreme heat with no running water or facilities a sport. But for millions of Americans living without permanent home, this lifestyle is a never-ending nightmare.

When I met Janine one month ago, she was living in one of Sacramento’s now infamous tent cities. She works as a gardener, but does not earn enough income to afford or sustain permanent housing. She says she cannot stay in area homeless shelters because there are not enough beds to meet the demand. Janine has been closely involved in the debacle surrounding Sacramento’s tent city. She even spoke about the issue to city council.

Even still, her efforts to improve her situation didn’t matter the morning we met. The day I met Janine, tent city residents were told that if they didn’t pack their things and leave, they would be arrested. She had saved up enough money to put her belongings in storage, but still did not know where she is going to spend the night. Needless to say, on that dark day, she said her future looked grim.

One of Janine’s wishes was for everyone to be on “safe ground,” a term used to describe a proposed location where the homeless can camp legally with access to basic needs. I still hope her wish comes true. – via current.com