November 23 – It’s 1:24 a.m and eager shoppers are already lined up at stores across the country in anticipation of Black Friday. My step-dad, brother and I just drove over to the local Best Buy to see a line of mostly young Asian youth waiting to pounce on a good deal on a new HDTV, but more likely to also attempt to resell it on eBay for a profit.
What we witnessed was, in essence, another form of the practice of “flipping” – i.e. reselling something without adding anything of value to it. On this day of giving thanks, I would like to share one thing that I am thankful for: that I do not personally know this asshole, a blogger who has a site called Foreclosure Flipper. A year ago on Thanksgiving, she posted a list called “GOBBLE, GOBBLE, FORECLOSURE, GOBBLE, GOBBLE!!!” that lists ten things she was thankful for, specifically naming the top 10 cities with the highest rates of foreclosure at that moment. She says at the end of her entry that “in case there was ever a question, I’m going straight to hell in a hand basket. See ya’ll there!”. Such ease…
As you will see throughout my entries to this blog, the desire and practice of personal financial gain without doing anything at all, and at the cost to someone else is one of the main reasons that many families are losing their homes and – I would argue – the cause of most suffering in this world. Yes, I just said that. And this is just the beginning…
Here’s what the fuc- …I mean flipper said in full:
“I hope everyone has a wonderful Thanksgiving break. I was visiting family in the Boston area. As we all know Thanksgiving is a time to recognize that which you are thankful for so I’ve devised a list of the top ten foreclosure related things that I am thankful for. Not in any particular order here they are:
This year I am thankful that:
1) Detroit’s foreclosure rate of one new foreclosure filing for every 80 households was more than 4.5 times the national average.
2) Fort Lauderdale’s foreclosure rate ranked second highest in the nation among major metropolitan areas, with one new foreclosure filing for every 88 households – more than four times the national average
3) The Denver region posted the third highest foreclosure rate among the country’s 100 largest metropolitan areas during the third quarter of 2006.
4) Miami ranked fourth, with one new foreclosure filing for every 91 household, although many of the properties entering into foreclosure in South Florida do not move through the entire process.
5) Foreclosure postings in the Dallas area have surged in the past two years, and the city’s foreclosure rate consistently ranks among the nation’s highest.
6) Indianapolis is a big automotive industry supplier that has suffered economic setbacks, and falling home prices.
7) In Fort Worth, the median price of a home sold in October – $143,000 – is down 3 percent from last year, according to the North Texas Real Estate Information System.
8. Atlanta ranked eighth in the country in foreclosure rate, reporting one new foreclosure filing for every 107 households – more than three times the national average.
9) Experts say Las Vegas is outpacing the national rate as homeowners succumb to rising adjustable interest rates.
10) Memphis rounded out the Top 10 list with a foreclosure rate of one new foreclosure filing for every 144 households.
In case there was ever a question, I’m going straight to hell in a hand basket. See ya’ll there!”
Tags: Black Friday, Flipping, Foreclosure, Resell, Thanksgiving
