Atlanta foreclosures rise in December, set new annual record

The foreclosure picture worsened in metro Atlanta in December, rising nearly 10 percent over November and 77 percent compared with December of last year, according to new data from Equity Depot.

What’s more, the previous annual record, set last year, was shattered as 117,107 foreclosure notices were published this year — an increase of 47 percent, Equity Depot said.

“Maybe we’ve reached the apex, but it’s still unbelievable, in my opinion,” Barry Bramlett, president of Equity Depot, wrote in an e-mail.

In December, a total of 10,341 foreclosure notices were published in a 13-county metro area — up 9.7 percent from November, according to Alpharetta-based Equity Depot (www.equitydepot.net). The notices published this month are for public auctions scheduled for January 5.

Bramlett said relatively fewer residential properties are involved, while the proportion of commercial properties is rising. That includes hotels, motels, manufacturing sites and office space.

In December, Gwinnett had the most foreclosure notices (2,074), followed closely by Fulton (2,006). DeKalb was third (1,568), followed by Cobb (1,203) and Clayton (866).

For the entire year, Fulton led the pack (24,609) and Gwinnett was second (23,193).

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65 comments Add your comment

[...] picture worsened in metro Atlanta in December, as foreclosure notices rose nearly 10 percent over November and 77 percent compared with December [...]

dmac

December 14th, 2009
6:22 am

Since a year ago, we knew that the number of foreclosures were going to continue to increase and yet our senators took no action. It appears that they have sided with the big banks (and their hefty campaign contributions) over the best interest of people.

If your knee-jerk reply to my statement is that these foreclosures are due to irresponsible borrowers, please remember that many of these people owned their homes prior to being solicited for a refinance. Also, almost half of these families would have qualified for a prime loan, but were steered to a sub-prime product.

These are bad times and our government continues to fail us.

feh

December 14th, 2009
6:46 am

This is strange. One of Obama’s paid professional liars said the recession is over!!

Green Acres

December 14th, 2009
6:59 am

feh – Site the guy’s name, news venue (tv, paper, mag, etc) place, time, date and verbatim what “Obama’s paid professional liar” said.

YOU CAN’T BECAUSE IT NEVER HAPPENED. YOU’RE JUST GENERALIZING WHAT YOU WANT TO BELIEVE! YOU ARE A LEMMING ALONG WITH THE REST OF THE SORRY-ASS RIGHT WING NUT CASES!!!

Green Acres

December 14th, 2009
7:00 am

Matter of fact, THAT is what the rich repubs on WALL STREET lie to us about…NOT OBAMA!! I have heard him say MANY times on TV in the NEWS that we have a LONG WAY TO GO!!! JOBS ARE STILL NOT THERE!. Dumb-azz feh.

Idont Know

December 14th, 2009
7:13 am

Hey Green Acres….just yesterday Summers said the recession was over.

“Today, everybody agrees that the recession is over, and the question is what the pace of the expansion is going to be,” Summers said on ABC.

http://www.abcnews.go.com/Politics/larry-summers-white-house-economic-adviser-predicts-jobs/story?id=9325851

working 2 jobs

December 14th, 2009
7:24 am

green acres…you and others of your ilk are idiots, or to use your own rhetoric, lemmings. Trust me, there are just as many if not more idiots on the left.

I’m working 2 jobs, not to stay afloat, but to get ahead. Now is the time when fortunes are made and lost – and trust me – that has NO party (or color) affiliation. 95% of all elected officials are idiots (Why on earth would a sane individual want to be involved in a power tripping, back stabbing mud fight every day?). They are mostly ALL out to steal and lie from your family just as much mine.

We should ALL trust none of them – and do whatever is necessary to provide for yourself and those you love.

Woodie

December 14th, 2009
7:30 am

I think people need to rethink the reason for foreclosures. It’s not caused by people in over their head on loans. It’s cause by job losses and business failures due to the recession. Without jobs, this recession will never end. Just about everyone I know outside myself is lay’ed off or about to be lay’ed off. This started about 1 year before Obama entered office. The Repuglican’s are desperately trying to spray blame to avoid the truth. Trickle-down economics does not work and never did.

td

December 14th, 2009
7:33 am

Amazing how people who are quick to call economic experts liars don’t know the difference between leading and lagging indicators, and what a recession really is. Is the economy growing, i.e. is the gross domestion product increasing? Then the recession is over, by definition. Are people still hurting? Yes. The stock market is up, which is a leading indicator, as investors buy when they anticipate things will soon get better. Jobs are lagging indicators, as companies don’t hire until they *know* things are getting better. Foreclosures are tied at least somewhat to jobs, for those homeowners who can’t pay their mortgage, rather than the ones who have just decided not to pay because they’re upside down.

Summers is correct. The recession is over. Jobs won’t come back for another six months, however.

Maxine Klinger

December 14th, 2009
7:36 am

We took advantage of the lousey market to get a cheap home for my wayward brother. Atleast I will know he is not homeless somewhere, and he will not be knocking on my door. Now we just need to get some cheap furniture

pam

December 14th, 2009
8:01 am

IMHO, many of the current home foreclosures are due to job loss especially in the Atlanta area. In addition to that, the weekly unemployment amount that is paid in Atlanta/metro is way below comparable markets/cities that have a comparable cost of living. I am a responsible homeowner, in the same line of business for more than 22 years, my housing payment was in alignment with my income to debt ratio. At this time it is extremely difficult to find a job in my line of work because so much of it has been shipped offshore to lower paid and lower skilled workers. What is a person to do? Change your home services such as internet, cable, phone to companies that have their support centers BASED in the USA. Cancel your credit cards where the funding companies that send your calls offshore for customer support. I know I don’t like giving my SSN and personal information to anyone offshore. It’s all about supply and demand. As long as we continue to support companies and elected officials who are shifting our work offshore, the job picture is not going to get any brighter for people here in the US. All its about now is the Service industry and growing that business segment in the US. I know that is not how I want to spend the rest of my career! Also, I don’t think we have seen the end of the types of jobs that are going to be sent offshore. Keep your eyes open for the shift of more and more jobs in the field of Finance and Compliance. It’s pretty scary!

Rob

December 14th, 2009
8:04 am

Go read the new book “Past Due.” Easy read and succinctly wraps up this entire mess from sub-prime loans to home equity lines of credit. In a nutshell, Americans (regardless of race, color, creed) got flat greedy. Me, me, me, want, want, want. Easy credit and buy what you want. Yes, greedy bankers, lenders, brokers, and realtors put the programs in front of you, but no one forced people to sign on the dotted line. America in the mid- to late 2000’s had a NEGATIVE savings rate. We spent more than we made. That’s 5th grade math folks. Read the book, and ask yourself how many people do you know fall into these descriptions. Ever wonder how all your friends could afford trading up in their home, buying all those new electronic toys, clothes, and cars? It wasn’t because they got huge bonuses or pay raises. Republicans & Democrats both had their hands in this mess. Started with the Clinton administration, stayed with the Bush administration, and continues with the Obama administration (Think Dems don’t have their hands in the $870B bailout? Don’t be naive.). Go read the book and get pissed off the way I did. BTW – I don’t work for a publishing company or book store!

UGAIsSoLastYear

December 14th, 2009
8:10 am

People of Georgia – pls stop complaining. Tons of companies are hiring. The US govt has about 20,000 jobs posted online. Stop being lazy. Up here in Ohio – it was just announced that the Cleveland Clinic Hospital is hiring 1800 in 2010. The economy is heading in the right direction. After 8 years of concentrating on a war overseas – it is no wonder our economy drifted to such a sorry state. Thank God someone is trying to do something to fix it!

Truth about mortgage mess

December 14th, 2009
8:11 am

Here’s the truth about the mortgage/foreclosure mess: a great many of the folks in trouble simply should not have purchased homes in the first place or should have purchased much less expensive homes. In the heyday of the housing boom, people would go to a lender asking “How much can I borrow” rather than saying” I need to borrow this amount”. No wonder they ended up with exotic mortgages that maximized the loan amount and were left with no cash reserves. Add in a recession and falling home values and you have a big problem on your hands. Add in the thousands of renters (yes, mostly minorities) that simply did not have the financial discipline to pay off a mortgage, and you have an epic foreclosure disaster on your hands.

I probably sound hard-hearted when I say this, but if these distressed homeowners had taken the time to understand how a mortgage really works and had lived below their means, the majority of them would have weathered the storm like the rest of us. It’s time for them to stop blaming banks, Republicans, Wall Street, George Bush, and everybody else for irresponsible personal decsions. Man up and get back on your feet!

Maniac

December 14th, 2009
8:14 am

Most Goldman Sacs executives contribute to the Democrats so the idea of all wealthy people are Republican is crazy and you make no sense Greenacres. Go back to the farm, John Kerry is rich and many of the Senators like Ted Kennedy are filthy rich.

Society of Blame

December 14th, 2009
8:17 am

Shame on everyone here whose posts blame someone else for their troubles. We are each responsible for OURSELVES. It’s not the job of Congress, regulators, or Barack Obama to watch over us and keep us from making stupid decisions.

This kind of pussified thinking is what will bring down this once great country.

Ashen

December 14th, 2009
8:33 am

Let’s not forget the greedy “flippers” – people who were trying to make a quick buck by flipping homes.

The Economy

December 14th, 2009
8:38 am

Working two jobs hit the nail on the head! FORTUNES are MADE in a down economy. Maybe we will meet at the top my financially sound freind. I always lived BELOW my means, now I’m gonna make a killing on these bank owned homes. Stupid is as stupid does. Thanks for making me RICH America.

Isis

December 14th, 2009
8:55 am

So we squabble with each other over our political views not realizing that the problem occurred some time ago but became public during the last 6 months of last year. The banks, mortgage companies and brokers became rich and are refusing with our tax dollars to help homeowners. The laws have always been written to protect them and there’s enough people in congress to make sure they don’t change. Go figure.

TRUTH

December 14th, 2009
8:59 am

O.K. Truth is here. 1. The recession is for the most part over. What we are now doing is recovering. It’s not a light switch where you can just turn it off. It will take time. 2. Foreclosures are NOT a result of the 3-4% who were NOT qualified to purchase a home. The problem started at the refinance level. Consumers were led to believe that a refi was the ticket to wealth. Check everyone’s savings accounts. If you were driving a Ford Focus at the time of refi in a house overvalued at $230K (when its actually worth $150K replacement cost), you all of a sudden run out and buy a Mercedes E420…. yeah, you got duped. 3. Credit Cards – who hasn’t seen a sudden uptick in interests rates, curtailed limits, or just thrown off because you PAID your bills?? 4. Banks have lied and continue to lie. They are supposed to be restructuring loans based on the current (diminished value) of real property…only if your home fits there criteria for a restructure. If it doesn’t you’re azz out. (Hey, are you starting to see a pattern here??). 5. Not extending credit to small business. This equals NO JOBS. NO JOBS means you can’t pay for your real property, or anything else!! Ain’t that right retailers….??!! 6. Insurance Companies – In case you weren’t aware, Insurance comapnies are owned BY THE BANKS!!! Any GOP’er should know that. This was a little nugget brought to you by the GOP in Dubya’s first year or so power. Funnier, isn’t that about the time that the premiums started going up and up? The banks are the ones driving that chain. Plain and simple. Insurance is limited by the respective state’s Department of Insurance, HOWEVER, banks slap fees and limit costs in order to generate profits.

So if you’ve been paying attention, the foreclosure nightmare is just a portion of the fail of the great nation. The banking industry has lied to the American people (Dems, Repubs, Indies, and Libs..alike and without discretion). They have looked the President (whether you like him or not, but to the frikkin’ President) in the face and lied. There is no honor or patriotism among them and all they want is their money.

I’m taking my money out of the “big banks” because they have no concern about the customer. When my bank of over 25 years jacked my CC rates and gouges my accounts for “fees” its time to go. A credit union is where I’m headed.

So put the blame squarely where it belongs, at the banks. They got us good. I hope President Obama shuts em’s down. Not to have a government run system, but to get some new blood in there, but he can’t because its “private business.” Republican Holy Ground.

I hear Costa Rica is nice this time of year….

Unabashed realist

December 14th, 2009
9:04 am

The forum proves Americans will never be able to solve a problem as a unified socitey. We are too busy pointing fingers, placing blame, defending our political beliefs or just being selfish to focus on the heart of any problem. Until we can honestly set all of this BS aside and work together to clean up our government and restore decency in this country nothing will improve. We must be unified, and committed to solving our problems…until that happens the politicans, bankers and CEO’s will continue to have their way with us.

Also no one really cares how much money you have…we all want a decent life. I don’t understand why somone would want to be the richest person in the cemetery.

Lloyd Braun

December 14th, 2009
9:20 am

Renting is cool.

Owning is for fools.

M.T.,
Brauny

RGB

December 14th, 2009
9:23 am

In 10 years, the Democrat Congress and Obama administration plan to quadruple the debt of the federal government amassed from George Washington to G.W. Bush.

Businesses and individuals will pay much higher taxes as a result. Consumer demand will decline because people have less money and businesses will not hire because their breakeven point will be much higher.

In addition to higher tax rates, Congress is adding billions in hidden taxes through the discredited Cap and Tax legislation, health care legislation, etc.

You may choose to bury your head in the sand and blame banks, Republicans, evil businesses, Dick Cheney, Halliburton, Blackwater, Tom DeLay, or whomever.

But none of these people or entities quadrupled the debt of the federal government.

Democrats did.

The real unemployment rate of 18% will not go away until the free-spending Democrats do.

And many of the Republicans are guilty too. But right now Democrats are in charge and they are ruining this country. The inflation that is coming will destroy the value of your savings. The Democrat-controlled Congress is printing money faster than at any time in U.S. history. Your one or two million dollar retirement fund will now be worth half or less.

Because of the quadrupling of U.S. debt, this recession is different from the others. The recovery won’t be quick, automatic, or hockey stick-shaped.

But you Obama acolytes continue to talk about evil banks and horrible capitalism and go back to sleep.

For Obama worshipers who’ve never darkened the door of an econ class, here is the 3rd grade version: http://www.youtube.com/watch?v=P5yxFtTwDcc

P.S. George Bush is no longer president. His term ended nearly a year ago.

Justine

December 14th, 2009
9:26 am

The first thing we must do is look at Congress and the Senate. They have refused to help people instead choosing complicated plans which end up putting money back in the hands of the people who created the problem. I attempted to have my mortgage rate dropped and was told my credit score was too low. Excuse me but I am paying a significant amount for a mortgage out of my now drastically reduced income. And it does not help I have suffered a 75$ decrease in my interest rates.

There is a very simple way to reduce foreclosures:

1. Do interest on mortgages like we do on credit cards but at a fixed rate which is included with the loan at the beginning.

2. Every loan AT ITS MAXIMUM should be no more than 40% of the gross verifiable salary of the borrower. If a mortgage company goes beyond that then they cannot foreclose if the homeowner’s income is reduced.

3, Make mortgage documents no more than 3 pages in 10 point type.

4. Right now mandate the banks work with borrowers to lower their interest rate.

5. The interest rate on a mortgage should be no more than 5% fixed.

The banks are greedy and the sad thing is they are paying us so little interest we are almost paying them to save money.

"Truth" at 8:59

December 14th, 2009
9:33 am

“Truth” at 8:59 has a few thing right, but is also wrong on a few points. Consumers were not “lead to believe that a refi was a ticket to wealth”. They CHOSE to refi and SIGNED the paperwork. Now they are OBLIGATED to pay off the note- after they spent the cash they got out on lifestyle expenses. Nobody was pointing a gun to anyone’s head to force them to refinance. A lot of irresponsible people made bad decisions and are now paying for it. In truth, a lot of responsible people made the right decisions. lost their job, and are also paying for it, even though they didn’t do anything wrong. It sucks, but it happens.

Banks are just like restraunts, dry cleaners, or any other business. If you don’t like what they offer, take your business elsewhere. I applaud you for making the move to a Credit Union. I need to do the same. However, to blame banks for all of our collective ills is just a cop-out. We need to get back to the point where the INDIVIDUAL is responsible for their own decsions.

DW

December 14th, 2009
9:35 am

It will get much much worse I know 3 neighbors that decided they would no longer pay starting Dec. The reason WHY is 2 other neighbors who where late are running around bragging about how they got their payments lowered by $700 a month and new interest rates of 4%. They BRAG and BRAG about it. So can you blame others, for deciding screw it why should I pay more when if I just stop paying I will be REWARDED. This country is screwed. I cannot understand why the press is not reporting that this is now happening everyone in my neighborhood is talking about it. I stupidly paid cash for my home and am truely screwed but if I had a mortgage I would stop paying the crooked banks also.

re: Justine

December 14th, 2009
9:40 am

I’m sure you feel passionately about your views, but why in heaven’s name would we mandate that a lender renegotiate a loan (with a legally binding contract) or limit interest rates of future loans? That’s the same as telling the AJC to lower it’s subscription price after a customer signs up for a year of home delivery or telling Kroger that they can’t charge more than $1 for a gallon of milk. As someone noted above, it’s about personal decisions and the implications thereof.

stn mtn dad

December 14th, 2009
9:43 am

We can blame the redneck BUSH, for the mess that all of us are in. If anyone can remember he told the american people, that the goverment isn’t in the business to help people keep there homes. however after leaving the white house he goes out and buy a 2 or 3 million dollar house. i bet he isn’t feeling the recession like some of us are. its taking MR. OBAMA to come in and try to fix a problem that was clearly something that REDNECK knew years was going to happen. just keep this in mind when we make comments.+

RGB

December 14th, 2009
9:45 am

“Truth” at 8:59 is right.

It’s much easier for people to be victims than to be adults.

Blaming their woes on “crooked banks” (”they tricked me AND my lawyer into signing that paperwork including the part about what the APR is and the total amount of interest I’ll pay over the life of the loan.”) allows them to escape culpability.

Ramada67

December 14th, 2009
9:53 am

It almosts looks like all these apartment owners have gotten together. Raised there prices to equal a payment on a home. Now why would that be. Paying the same price for a tiny 2 bedroom apt. as an entire house. Just doesn’t not make sense. I wonder who those people are.

RGB

December 14th, 2009
9:57 am

The real unemployment rate is at a 68-year high. “In fact, no bout of unemployment since the last year of the Great Depression in 1941 would have produced an adjusted unemployment rate as high as today’s.” [Source: Economics Professor John Miller, Wheaton College]

Obama has done nothing constructive to address unemployment. Nothing.

If he wanted to reduce home foreclosures he could do something to boost unemployment–but he chose not to.

Obama wants the majority of people to be dependent on the federal government for their existence. When he accomplishes this, his power will be absolute and long-lasting.

He is very close to achieving his goal.

inou

December 14th, 2009
9:58 am

Obama is encouraging irresponsibility. It only makes sense to default and hold one’s hand out. Obama will steal to help you.

RGB

December 14th, 2009
9:59 am

Correction: “If he wanted to reduce home foreclosures he could do something to boost employment–but he chose not to.”

Unfortunately the President has done many things to boost UNemployment.

cheese head

December 14th, 2009
10:00 am

Residential real estate will continue to struggle until 2012. People don’t want to believe that, but until all these toxic loans finally go away, we won’t see any appreciation. That should be 2012. Too much inventory, too many overpriced homes, too many agents telling sellers what they want to hear not what they need to hear. If agents would just tell people the truth, we might reduce our inventory levels which would help us recover faster. Won’t happen though because agents don’t want to lose a client or stop listing homes. They will feel like they aren’t as valuable. Problem is Sellers will be getting over promised and under delivered by their agents. Most agents aren’t spending money on marketing. Just sticking a sign in the ground and hoping someone will call. If you need to sell right now, listen to the agent that tells you what the home is really worth right now. If you don’t like what you hear, don’t list the house. Wait till 2012. If you have to sell now, realize that you might lose on the sale, but will make it up on the buy when you purchase another place so net net, you are coming out the same if you were in a good market. In a good market you sell high but also buy high.

CJ

December 14th, 2009
10:20 am

Green Acres…You leftist idiots are digging a deeper hole for all of us. If you had the common sense God gave a water buffalo you might understand what an idiot this guy really is….Obama has no clue!!!
I am not a Rep. or Dem. more like a libertarian, but since your ignorant self likkes to make comments about other bloggers here, I will supply you the info you requested.
Obamas TOP economic advisor Larry Summers did state this recession was over on This Week with George Stephanopoulos…ABC…heres the link
http://blogs.abcnews.com/george/2009/12/summers-job-growth-by-spring.html

now go crawl in a hole and shut-up

RGB is a fool

December 14th, 2009
10:35 am

RGB,
Bushes tax cuts during war time and initiating two wars had more to do with the deficit than ANYTHING the democrats that you are blaming. Phu-leez turn of the AM radio and read a book (if you can read).

You are a fool and should shut up.

CJ

December 14th, 2009
10:55 am

RGB…sounds like you are the fool….read what you wrote and learn how to spell.
Bush didnt raise the deficit 4 times while in office for 2 terms and fighting 2 wars….Obama did in less than a year and hasnt fixed a thing….actually will make things worse.
Crawl back into your leftist Igloo and stay there!

RGB is right on!

December 14th, 2009
11:01 am

RGB has it exactly right. Time for us all to grow up and stop blaming others for every problem that we encounter in life. Can you imagine how America would have turned out if previous generations were as weak and whiney as the current one is now? We’d probably be part of Canada and Mexico by now.

It’s notable how any posts on this site that don’t buy into the (rapidly fading) support of Obama and Big Government are ridiculed. I’m not Dem or Repub, and I don’t hate Obama. However, I do believe in the power of personal responsibility and self-reliance. You big government leeches ought to give it a try. It will make you feel much better about yourself as well as put more money in your pocket for that proverbial rainy day.

Simple fact

December 14th, 2009
11:09 am

In life, there are providers and there are takers. This whole discusison seems to be about whether you should provide for yourself or take what you need from others. Conservatives tend to provide for their own needs (along with legions of the hangers-on of society) and Liberals seem to always be wanting something from others (though Government policies that take from those that earned it and give to those that don’t earn as much). Think about it. Shouldn’t YOU be responsible for YOU?

RGB

December 14th, 2009
11:14 am

Hmmm, Fool. You are a believer in trickle-up poverty and a member of the Fixed Pie Society.

Why did the intake to the Treasury rise when JFK cut taxes?
Why did the intake to the Treasury rise when Ronald Reagan cut taxes?
Why did the intake to the Treasury rise when G.W. Bush cut taxes?
Why is the intake to the Treasury declining under Obama?

If tax cuts cause deficits, why not raise the tax rates to 100%?

And try to use some economics-rooted arguments rather than bold type and childish name calling.

SAB

December 14th, 2009
11:18 am

I too am having now to decide NOT to pay my mortgage since I have been working with my mortgage company for the last 5 months for modification with no success. I have been in my house for 10 years and live within my means but I am not rewarded for this but if I intentionally get behind, maybe they will respond. Is this what we are coming to?. And why is PrezBO doing heath care instead of fixing the many ills of our economy which were brought on by Dems and GOP? He is so OVER his head and himself. All these Dems from Pelosi, Reed are absolute elitists. Scary but true that many Americans can’t think for themselves and have to have somebody do it for them. November 2010 can’t come fast enough to start cleaning our house. They are trying to bring this country down so low we have no choice to surrender to a welfare state. We need a revolution to stop this blood shed.

GaNative

December 14th, 2009
11:26 am

It is so good to see some sensible posters this morning. DMAC@6:22am basically said now the foreclosures are hitting the people who were responsible and did everything right except keep a job. Woodie@7:30am has it exactly right, it’s JOBS now that is causing this slow down. PAM@8:01am is doing what so many of us should be doing. Only deal with people that support our economy. These companies cannot survive unless we continue to give them our money to send jobs overseas. You’ve got so many people who are not American citizens working here whereas our citizens are out of work. Have you ever seen any of these people pick up a rifle and go fight in a war for us? Yet they are here reaping all the benefits that should only be for American citizens.

RGB IS AN ECOMONIC GENIUS!!!

December 14th, 2009
11:26 am

RGB ANDS EVERY ONES WITH ANY SINCE KNOWS AND IT IS A PROVEN FACT:

YOU LOWER TAXES AND THE ECONOMY IMPROVES.

REDUCE TAXES AND TAX REVENUE WILL ACTUALLY INCREASE – NOT GO DOWN –

EVEN THOUGH TAXES ARE REDUCES TAX PROCEEDS TO THE GOVERNMENT WILL GO UP!!!

ELIMINATE ALL TAXES AND AMERICA WILL BE GREAT AGAIN!!!

NOT LIKE WE ARE NOW WITH THE OBAMA BOOB.

gene

December 14th, 2009
11:28 am

Our ‘Government” did not Fail us, WE failed on our own. We OWN this problem – passing the blame to over zealous real estate agents, hungy / greedy loan officers, and the Government is simply not being able to confront the truth.

Gene is right!

December 14th, 2009
11:56 am

Gene- well said! WE failed on our own. No truer words have been said on this post. Nicely done.

RGB

December 14th, 2009
11:58 am

Thanks for your response. It proved my point.

Oh, I’ve set lunch for us with Arthur Laffer next Thursday. Usual place and time.

Cheers.

doc

December 14th, 2009
12:01 pm

dmac that is a fools argument. turn on the tv or drive anywhere and there are solicitations everywhere. people got greedy and didnt understand short term loans that came due or thought homes would rise as many thought the market would forgetting it could also come down or rates change to the short term or interest only loans and the impact of having NO equity in your home. dude that is fifth grade math problem solving to realize the implications of living high on the hog with the edge so close to fall off. come on no responsibility to the borrower is not the way to handle it either.

i will say and ask if you do agree the fed got us here and probably got more money for doing it to stuff their coffers. the rich get richer only because people play to hype and remain stupid to allow them to do it.

Phil Brown

December 14th, 2009
12:19 pm

You all are blaming someone or something. But i bet you one thing. None of our elected senators or past presidents have any property on the foreclosures list. It’s our goverment that has let us all down. Sending our jobs overseas, wars or Lining there pockets while the common people look to see where there next meal is going to come from.

GaNative

December 14th, 2009
12:40 pm

Now is a very good time for everyone to look at their finances and make some changes. Due to the economy most businesses are hurting and dying for your business. Even if you have some nicks or negative marks on your credit report don’t let that stop you from investigating a change to lower things. Auto insurance companies are now accepting customers whom in the past they disregarded and would not accept. Homeowner insurance companies are doing the same thing. Natural Gas providers are now taking those customers that they once turned away and sent to Scana. Now even Scana is offering better deals to those they ones gave the shaft to in high fees because they know the other providers will take you. Take the initiative and MAKE CHANGES.

GSU Eagle 91

December 14th, 2009
12:52 pm

I find it hard to believe the Gross Domestic Product is growing when jobs are still being lost at a higher rate than jobs being created….What will fuel the “rise” in GMD when so many capable, desperate men and women are sitting at home praying for help before the foreclosure notice arrives?
In west GA, not only are there no available jobs, there isn’t any indication of the creation of any new ones, either.
Tough times, folks!