Carlsbad, CA · Member since 2010 · 1k+ posts · 1k+ votes
I thought this was a very interesting article, so I thought I share with you guys and see what you guys think of this? Are you guys noticing similar trend in your market? Is there light at the end of the tunnel, or is it a train approaching?
Certainly not in my part of the country - I saw this article yesterday and almost spit out my coffee.
Just seems like a colossal waste of money and energy at a time when our nation is suffering and needs good ideas and smart investment for the long term.
Building big trophy houses in the desert with elevators in them when sound bank-owned homes all around them are being neglected into rubbish at the expense of the taxpayers? How about taking that effort and retrofitting homes for energy efficiency and a new lease on life, raising local real estate values and revitalizing broken neighborhoods in the process?
Ugh. Train approaching is the only thing I can see down this tunnel.
Certainly not in my part of the country - I saw this article yesterday and almost spit out my coffee.
Just seems like a colossal waste of money and energy at a time when our nation is suffering and needs good ideas and smart investment for the long term.
Building big trophy houses in the desert with elevators in them when sound bank-owned homes all around them are being neglected into rubbish at the expense of the taxpayers? How about taking that effort and retrofitting homes for energy efficiency and a new lease on life, raising local real estate values and revitalizing broken neighborhoods in the process?
Ugh. Train approaching is the only thing I can see down this tunnel.
I've paid attention to the posters on this website as well as followed the housing markets around the country. And I agree the the quotes below. I would like to know who does his analysis. And if she has an extra crystal ball and can give me the winning numbers to the next Powerball she can have half of it.
FWIW, there are brand new homes being built and sold in Orange County as we speak. No, not the 8 bedroom mansions over looking the Pacific (there's a 3 year inventory of those), but regular 3-4 bedroom middle-class track homes.
There are also a few developers buying up 100's of acres of land in and around SoCal. They don't expect to start building tomorrow, but they are adding the land to their portfolio now at fire sale prices hoping to make a return within a couple of years.
Looks like the big money (but not necessarily the smart money) believes we're near the bottom out here.