Monster wave of new home foreclosures to hit



A monster wave of new home foreclosures to hit Northern California.
Socialist Big Government Democrats are clueless on how to create jobs.  Their
answer to everything is more taxes and anti-business regulations.



Democrats are Clueless:  A tidel wave of new foreclosures . . . but don't you dare ask for new private sector jobs to be created in the People's Republic 

A monster wave of new foreclosures threatens to engulf Sacramento's already battered real estate market as major banks move to slash their backlog of delinquent loans.

Socialist Democrats cannot seem to grasp that if you encourage new business or the expansion of current businesses that might create jobs.  With jobs people could afford to make their house payments.

To the Socialists of this People's Republic the only answer to everything is more taxes.

Nearly one out of every seven mortgages in the Sacramento region is somewhere in the foreclosure pipeline, a grim reality that could hold back any near-term recovery in the local housing market, according to a Sacramento Bee analysis of local foreclosure data.

Based on the average monthly sales in the capital region, it would take a year and a half to exhaust this "shadow inventory" of distressed properties. In the past two years, such distress sales have dominated the local real estate market, pressing prices ever-downward and making it hard for other sellers to compete.

"This problem is going to be with us for a while," said Kevin Stein, associate director of the California Reinvestment Coalition, a San Francisco-based consumer advocacy group.

A Bee analysis of foreclosure records compiled by Irvine-based RealtyTrac and Foreclosure-Response.org places the Sacramento region's shadow inventory at 53,256 homes in Sacramento, Yolo, Placer and El Dorado counties.

This figure includes three categories of distressed properties:

• 12,285 houses already owned by lenders but not sold.
• 19,367 units whose owners have received an initial foreclosure notice, or notice of default, but have not yet been foreclosed upon.
• Another 21,604 borrowers who are 90 days or more behind on their payments but have not yet been served with a foreclosure notice.

Lenders won't foreclose on all these homes. A sizable number of homeowners will win lender approval for short sales, which allow them to sell for less than they owe and get out of their mortgage. Others will obtain loan modifications.

But a big chunk of the distressed properties will be taken over by the banks because the amounts owed are so large and the loans have been delinquent for so long.

"This problem has been lingering for a long time," said Doug Covill, president of the 5,500-member Sacramento Association of Realtors. "The sooner we get through this inventory, the sooner the economy improves."

The region's mountain of distressed loans grew over the past year, in part because major lenders suspended or slowed down completion of foreclosures in response the "robo-signing" scandal. Banks and mortgage servicers were accused of rubber-stamping foreclosures without actually reviewing homeowners' loan documents.

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California ranks #50 out of 50 on business climate

California continues to decline.  Socialist Democrats are clueless on how the economy works in the real world.


The Socialist leaders of the People's Republic continue to live in their fantasy world of an equal, "fair" and perfect Worker's Paradise while the state slides into poverty.

California ranks last among the states for best business climate on yet another survey of corporate executives. This newest one was conducted by the New York-based Development Counsellors International.

California has been the worst-ranked state on this survey, conducted every three years, for the past four surveys dating back to 2002. New York was worst before that, says the Orange County Register.

It’s not the first survey to label California unfriendly to business. The Small Business & Entrepreneurship Council ranks California 48th. CNBC ranked the Golden State 49th for cost of living. Council on State Taxation gave California a D —.

“With the battle for business more intense than ever, states and their economic development organizations need to pay close attention to the results of this survey,” said DCI President Andrew T. Levine. “Whether accurate or misguided, perceptions about a location’s business climate often play a crucial role in site selection decisions and where companies invest money and create jobs.”

More than 7 out of 10 (71%) of respondents said California is bad for business citing (more than one answer was allowed):

• High taxes, 40%
• Too much regulation, 36%
• High cost, 23%
• Anti-business climate, 17%

While California was the worst by a wide margin, the other states joining California at the bottom of the heap are:

• New York, 47%
• Illinois, 24%
• New Jersey, 24%
• Michigan, 16%

The major negatives for New York were taxes, 61%; costs, 38%; and regulations, 19%.
The states with the most favorable business climates are:

1. Texas, 49% (top ranked on every survey back to 1999)
2. North Carolina, 27%
3. South Carolina, 14%
4. Tennessee, 14%
5. Florida, 14%

If these business executives vote with their feet, many businesses will be on the move because 46% told this survey that their company will make a decision about moving, expanding or consolidation within the next two years. An additional 31% were not sure about possible movement.

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12.1% unemployment in California - Democrats clueless



Democrats are clueless  -  They subsidize and import poverty from other nations while
exporting good jobs out of the state.


Democrats:  More jobs?  NO! . . . More taxes?  YES!


It is frightening how fucking stupid Socialist Democrats are in this People's Republic of California.

Modern Communists in China, Cuba and Vietnam are adopting Capitalism to create jobs and wealth.  But here in the Golden State, Socialist Democrats are adopting old-style Communism where there are no jobs, no wealth and everyone except the Elite is equally poor in a phony Worker's Paradise.

California's jobless rate grew for the second straight month in August to 12.1 percent, up one-tenth of a percentage point from the previous month.

The state Employment Development Department reported Friday that nonfarm payroll jobs fell by 8,400. The construction industry had the biggest decrease, down 7,200 jobs reports the San Diego Tribune.

Six categories lost 17,500 jobs: construction; information; financial activities; educational and health services; other services; and government.

Five categories added 9,100 jobs last month. They were mining and logging; manufacturing; trade, transportation and utilities; professional and business services; and leisure and hospitality.

The unemployment rate had been declining since March until it spiked back to 12 percent in July.

California's rate is the second highest in the nation, behind Nevada. The national unemployment rate remained at 9.1 percent.

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The unions have taken over the state

A Union Takeover  -  Bankruptcy here we come


The labor unions have totally taken over the People's Republic of California.

Over multiple election cycles they have spent tens of millions to buy and pay for a lackey state legislature and Governor who will drop their pants on command and do their bidding.

Now that the one-party dictatorship is in place the unions are flooding Sacramento with special interest legislation to feather their nests at the expense of the taxpayers.

BILL WATCH

These are among labor-backed bills on their way to the desk of Socialist Governor Jerry Brown:

Senate Bill 202The bill, by Sen. Loni Hancock, D-Berkeley, would require ballot initiatives in 2012 to be put on the November ballot. The measure would favor Democrats and their labor allies in initiative campaigns because Democratic turnout for the November presidential election is expected to be far higher than in the June primary.

Senate Bill 126The bill, a compromise measure proposed by Gov. Jerry Brown and negotiated by Senate President Pro Tem Darrell Steinberg and the United Farm Workers union, would give farmworkers greater protections in labor disputes with growers. Brown previously vetoed legislation that would have let farmworkers organize by submitting signed petition cards instead of by secret ballot.

Assembly Bill 101The bill, amended at the legislative deadline to include language by Assembly Speaker John A. Pérez and Senate President Pro Tem Darrell Steinberg, would let unions organize child-care providers who work out of the home. Gov. Arnold Schwarzenegger, a Republican, vetoed similar legislation three times.

Assembly Bill 740The bill, by Assemblyman Bob Blumenfield, D-Woodland Hills, would strengthen existing restrictions on state agencies using private contractors, forcing them to immediately end business with a private vendor if the State Personnel Board rules that the contract violates state law. Gov. Arnold Schwarzenegger, a Republican, vetoed similar legislation.

Assembly Bill 183The bill, by Assemblywoman Fiona Ma, D-San Francisco, would prohibit grocery stores from selling beer, wine or liquor using electronic self-checkout lanes.

Senate Bill 922The bill, by Senate President Pro Tem Darrell Steinberg, D-Sacramento, would allow public agencies to require project labor agreements on construction projects, typically favoring unionized workers.

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Big Brother lives in San Jose

Buying a bottle of wine or six-pack of beer could get tougher for residents of San Jose, California.

The San Jose Mercury News reports the city council is considering a proposal that would restrict new liquor licenses to grocery stores and other "full service markets." Convenience, drug and liquor stores would no longer be able to get them.

Big Brother government just can't let people alone.  If a drug store wants to sell a legal product like beer what the Hell business is it of the government?

San Jose officials say placing limits on liquor licenses would give grocery stores an incentive to locate in neighborhoods that don't have grocers or large retailers.

But Councilman Pete Constant says the proposal is a form of social engineering that could hurt the city's efforts to attract new businesses.

The city council is expected to vote on the proposal this fall as part of an update to the city's general plan.

Union thugs act to prevent job creation



Union backed Socialist Democrat legislators are targeting non-union businesses with
more and more red tape to prevent job creation.


 Union Thugs control the Legislature


Labor Unions thugs in the People's Republic legislature are targeting non-union businesses with roadblocks to opening new stores.

Socialist Democrats and their thug allies live in fear that non-union businesses might open new stores and create jobs in California where we have 12% unemployment.  Non-union superstores would have to pay for special (and useless) economic impact reports.  While union stores are exempt from doing the reports.

The Assembly today voted 43-28 to send Socialist Gov. Jerry Brown a union-backed bill that would require cities and counties to assess the economic impact of so-called "superstores," such as Wal-Mart, proposed for their communities, reports the Sacramento Bee.

Senate Bill 469 by Sen. Juan Vargas, D-San Diego, requires the economic studies, to be paid for by project applicants, to evaluate the impact of the store on small businesses and the economic well-being of the community in general.

Supporters in organized labor said the requirement will give local government decision makers more information before approving projects.

Opponents, including business groups, said the measure will erect more impediments to job creation and economic development.

Sacramento Bee