[Homestead] The real toll of forclosures
Don Bowen
don.bowen at earthlink.net
Wed Oct 1 16:17:59 EDT 2008
> The combination of escalating resets, ever higher fuel prices, and
> unsophisticated buyers using some of the most complex financial
> instruments.
>
> http://calculatedrisk.blogspot.com/2008/10/foreclosure-alley.html
A thought I had a bit later is How much of that stuff heading for the land
fill was bought on credit? Not far from the Lake Elsinore mentioned there
is a furniture mall with stores with several medium and high end names
plastered on the fronts. Many companies had plans but as home prices fell
and forclosures soared they pulled out. A recent article showed the ghost
mall with one store with huge "Going out of business" signs.
My daughter lives in Lake Elsinore in a rental that is bank owned. Cheap
rent just to have someone in there to keep vandals from stealing the copper
pipes and wiring.
Don Bowen KI6DIU
http://www.braingarage.com/Dons/Travels/journal/Journal.html
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