Now it's yours, now it's not

This year, the ugly side of real estate will be exposed: foreclosures. The scavengers who feed off the carcass of the housing dead are busy lining up their strategies, raising their funds and eyeing their prey.
New York City's Gawker published an item about a Father/Son Trump financial success lecture that included this line, "Learn the Trump way to cash in on the new trillion dollar booming foreclosure opportunity in 2007."
Trump, as condo developer and as speaker, rode the housing boom, piling up the rewards along the way. The Learning Annex's Real Estate Wealth Expos where Trump is one of the big name speakers have been an out of control marketing engine for promoting homeownership-- a bullhorn for the sub-prime crowd. Many in this group are now in trouble with painful mortgages, multiple properties, foreclosure risk and a 7-year stint in bad credit hell or worse bankruptcy, which is much less forgiving than during the last housing bust.
Mortgage liquidity manifested in ezzzzzzzzzzy loans terms caused the woes in the housing market but most financial disasters are set up by the promoters who get people lathered up about endless opportunity.
An underpinning of the crash in the Chinese stock market this week was careless promotion of stocks, without transparency.
The lack of transparency in the US real estate market is one reason sizzle sellers can peddle almost anything in a go go market – all wrapped in the American Dream.

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