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homestead - Re: [Homestead] The real toll of forclosures

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  • From: "Don Bowen" <don.bowen AT earthlink.net>
  • To: <homestead AT lists.ibiblio.org>
  • Subject: Re: [Homestead] The real toll of forclosures
  • Date: Wed, 1 Oct 2008 15:17:59 -0500

> 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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