Get PJ Media on your Apple

The PJ Tatler

by
Stephen Kruiser

Bio

June 12, 2013 - 10:35 pm

The little economy that couldn’t

Banks seized more U.S. homes in May as a greater number of Americans found themselves entering the foreclosure process, suggesting lenders were drawing down the pipeline of distressed properties, a report from RealtyTrac showed on Thursday.

Banks repossessed 38,946 homes, an increase of 11 percent from the previous month. The number of homes hit with default notices for the first time grew by 4 percent.

It seems impossible to get consecutive months of any kind of positive economic news. At this point, one has to wonder if the administration isn’t secretly enjoying Scandapalooza because it keeps the citizenry distracted from the sewer-bound economy.

Stephen Kruiser is a professional comedian and writer who has also been a conservative political activist for over two decades. A co-founder of the first Los Angeles Tea Party, Kruiser often speaks to grassroots groups around America and has had the great honor of traveling around the world entertaining U.S. troops.

Comments are closed.

All Comments   (3)
All Comments   (3)
Sort: Newest Oldest Top Rated
Somehow I'm sure this will be reported as good news in the media....
45 weeks ago
45 weeks ago Link To Comment
I also think the tide of strategic defaults is ebbing and the foreclosure apparatus is catching up with the paperwork. There will be a chill felt by banks and one continued to be felt by builders similar to the one felt by automakers in the mid-2000s because: people already have the house that suits there needs at a uninflated price or are not ashamed to rent as much as they were pre-crash.
45 weeks ago
45 weeks ago Link To Comment
Housing is the real zombie apocalypse, banks have been sitting on untold abandoned, underwater, or long-term delinquent properties for years now, banks surviving instead on fed handouts and prayers that somehow Bernanke or Zeus or Cthulhu would spike the economy or inflation or both and make it all sunshine and unicorns.

I have no idea how the economy has made it this long without crisis, but if it comes tomorrow morning I will in no way be surprised.
45 weeks ago
45 weeks ago Link To Comment
View All