[Homestead] And so it goes

Don Bowen don.bowen at earthlink.net
Mon Jun 9 11:20:06 EDT 2008


This is the housing situation where I am now.
http://calculatedrisk.blogspot.com/2008/06/temecula-15-of-homes-reo-or-in.html
"Today, said Rich Johnston, Temecula's deputy director of building and safety and code enforcement, as many as 15% of Temecula's 22,500 single-family homes are bank-owned or in some stage of foreclosure."

It is exacerbated by the long commute to anywhere and a total lack of any sort of mass transportation.  Temecula is built around the I-15 Freeway that leads south to San Diego and North to Riverside and freeways into Orange County and Los Angles.  The only local jobs are service.  I expect to pay around $4.30 a gallon when I fill this morning.
http://calculatedrisk.blogspot.com/2008/06/oil-house-prices-and-exurban-lifestyle.html
"``It was drive until you qualify'' for a mortgage, says Robert Lang, director of the Metropolitan Institute at Virginia Tech in Alexandria, Virginia. ``You can't do that anymore. Your cost of transportation will spike too much.''"

Rural workers are hit even worse, some are quitting jobs they can no longer afford to drive to.
http://www.nytimes.com/2008/06/09/business/09gas.html

Don Bowen      KI6DIU
http://www.braingarage.com/Dons/Travels/journal/Journal.html


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