Frank Louis
Still no end in sight: look out below...even lower real estate values to come
By Frank Louis
January 1, 2011

Sorry for missing my monthly articles recently in November and December. Lots going on and... well the "day extender" I had ordered for Christmas never arrived. We do appreciate the emails we received from our readers.

Anyway, I am starting a new format with shorter articles more often. I think that is what is needed now as just too much is happening. I m sure you know what I mean too. If not: Don't Ask, and I won't tell! (Can you believe it?) I call it "Don't Know: Don't Want to Know." I am waiting to see how this will play out. Not well for the country I can predict.

You know about the recent art piece at the National Portrait Gallery, the video with the ants crawling on an image of Jesus? Have you read anything the gay-curiator at the Smithsonian who curiated this show has to say about this country? If not, read his thoughts on the subject. This, my friends, is the real agenda. It is not about serving (in the traditional sense) in the 'ol "foxhole." But that is for another day and time yet to come as this has yet to come to a boil, believe me.

With Christmas behind us and as we approach the new year perhaps the time has come to remind ourselves and those who have no clue about the Biblical roots that the USA was founded on. This week I heard a Democratic Strategist on Fox contest this fact. Just because these facts are all but expunged from the history books does not change the fact that the founders looked to Scripture for every move. And, don't forget: Jesus is the reason for the season. If we took a closer look at scriptural morals we would not be "asking or telling," much less in most of the situations we are in now. Just a thought.

What I still can not believe is how not one national media commentator has yet recognized the fact that millions of Americans made down payments on their real estate, were within their means in doing so, played by the rules, and are now upside down in their investments with negative cash flows.

On CNBC recently, housing and again this morning was the topic: housing. They talked about the 10 million people in foreclosure. They talked about how many properties are now worth less than the mortgages. The Case-Shiller Index shows a potential for a double dip in housing and everyone is shocked. Maybe even more foreclosures. Who would'a known? And what will that do to property values? Stabilize them or make them go up? I doubt it.

Just how dumb are they all? Of course a double dip, maybe a triple dip. There is no end in sight unless the Short Keep is implemented. The Short Keep. We have coined this phrase back in 2009 and we are sticking to it. Read my old articles if you do not know about the Short Keep.

These talking heads gloat about the "40 million home-owners who "played by the rules, within their means" and still make their payments. Let me ask you this: "When did these people buy?" Not in 2004-'06 I can bet you that. These "experts" are dividing the data incorrectly. If you bought before the fraudulent bubble you are fine. Not affected. Not part of this equation. What about folks who saved and paid from their hard earned cash and were sucker-punched by fraudulent values? People who paid $100,000 down on real estate that is not worth $50,000. Keep making the payments?Throwing more hard earned money away every month?

No, there are plenty of people who were playing by the rules, investing hard earned money on real estate based on fraudulent appraisals that were based on fraudulent comps that were created by fraudulent realtors and mortgage brokers that were making fraudulent loans to fraudulent "buyers." They just bought when unprecedented fraud ran the real estate industry.

These people have, in many cases, invested more cash that the property is even worth today. They are the ones getting foreclosed on now. And more will follow. Even the Mortgage Bankers Association defaulted on their mortgage while telling us to pay ours. It will not take long for more and more people to realize that they are being played for fools by continuing to bite the bullet and pay over priced mortgages on property with no value and even lower value to come. That "macho" attitude will not hold out too long. Not when you can get a 60-inch flat screen with that money this month and take a vacation with that money next month.

Not a bad holiday and Christmas Season at the retailers while foreclosures are up. Any idea why?

No, many Americans were robbed in this housing Ponzi Scheme and NO ONE is speaking out for them. Only Frank Louis. We want our money back!

Happy New Year!

© Frank Louis


The views expressed by RenewAmerica columnists are their own and do not necessarily reflect the position of RenewAmerica or its affiliates.
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Frank Louis

Frank Louis is a print and on-air commentator who offers opinions and solutions on and for the economy, social issues, and the future of this nation. In the Old Testament, Nehemiah 4: 14 instructs us to fight for our houses; something we need to be doing now. Our future generations depend on it!... (more)


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