California Real Estate Fraud Report

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10
Jan

Housing at Heart of Recession Fears

The Mortgage News Daily reported today that

Goldman Sachs became the latest “authority” to say that the United States may be slipping toward an outright recession, and that the housing and credit market problems would be the primary cause.

In a research report Goldman Sachs said that the latest economic data indicate that the recession has arrived or soon will and that there will also be a decline in consumer spending, something that didn’t happen during the tech bust recession of 2001.

Question: if Goldman Sachs doesn’t know if the recession has arrived, how will it know when it has? After the fact?

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Commentary:
Real estate and automotive sales drive this country; they are the only big ticket revenue generators since manufacturing and high-tech positions were outsourced overseas. Now that real estate sales volume is drastically lower than recent years along with skyrocketing foreclosures, all that remains to create serious long-term pain is for consumers to stop purchasing cars or to turn in the ones they purchased by cashing in their equity.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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