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21 Comments
- seltaeb4, on 04/23/2009, -0/+15There aren't a plague of vacant homes; there's a plague of ridiculously overvalued, overpriced homes.
Supply and demand works both ways. If an market-reality based rent/mortgage were worked out, all of these houses would be filled.
But whomever holds title would rather let them sit empty. Fine, bastards. Let's see how you enjoy getting ZERO dollars a month in rent, and for how long you can endure it.
Call us back when you've reevaluated your position. - mattmeow, on 04/23/2009, -0/+10If you want to see what abandonment looks like just take a look around Detroit. It's Sad.
http://maps.google.com/maps?client=firefox-a&c ... - jdames1980, on 04/23/2009, -0/+8I agree completely. It completely amazes me that people thought that the values of their homes would skyrocket forever. I was just watching an older episode of a show on HGTV last night and the realtor was suggesting that the couple get an "interest only" loan because the house is in a good neighborhood and the value will always go up! Anyone who got an interest only mortgage is a *****.
- rlvowell, on 04/23/2009, -0/+4the reason is cost, not abundance.
- phylum, on 04/23/2009, -1/+4what makes me mad is my brother has lived and worked out there for 20 years but has never been able to afford a home ,when there are all these abandoned places he could buy just out of his reach. he has to live in extra bedrooms people rent out.
- inactive, on 04/23/2009, -0/+3The banks don't care about what happens with the neighborhood or the surrounding property values because they just got bailed out by the government and they are still holding the owners of the property responsible for the mortgages. So the banks get paid twice on the deal and the middle class and taxpayers get it up the butt three times on the deal.
- heysuburbia, on 04/23/2009, -0/+2200?
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In Philadelphia, there are an estimated 26,000 vacant homes. NPR's Steve Inskeep met a group of "urban pioneers" and investors, bargain hunters eager to fix up abandoned homes. And he met residents of blighted neighborhoods who are struggling to cut through bureaucratic red tape so they can reclaim affordable housing.
Breaking the cycle of abandonment is a complex issue, and the need is urgent. Every year, the city of Philadelphia destroys about 1,000 homes that can't be salvaged, even as an equal number are freshly abandoned.
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I live in South Philly and luckily my neighborhood has been doing great. My house has gone up in value by nearly 9% in the last two years. Actually, Philadelphia as a whole is in the "plus" side of the housing crisis. - Jektal, on 04/23/2009, -0/+2Yup, just went through a 4-month period of looking at houses in my area. Ended up signing another rental lease because, despite the abundance of homes on the market, the prices haven't come down at all and none of the sellers I made offers to were willing to budge from their asking prices. Screw em, let them hold onto the houses they aren't using if they aren't willing to drop their price 10%/
- sparkmonkeyz, on 04/23/2009, -0/+1Ahh wtf? I was saying it was for the better because it was dirty and drug ridden. They are now allowed to stay at Cal Expo and shower and everything. It is much cleaner and there is access to running water and other basic amenities.
- JackSrenton, on 04/23/2009, -0/+1Aye! Im in Rocklin too!
And your driving really ***** slow if it takes you 30 minutes to get to Sac. - sparkmonkeyz, on 04/23/2009, -0/+1Oh nice. Yeah it takes me thirty minutes, as google maps also says it does. I hit traffic almost every time by the mall and exiting.
http://maps.google.com/maps?f=d&source=s_d& ... - 8FoldPath, on 04/24/2009, -0/+1I suspect a lot of it has to do with what is owed on the mortgage. Sellers can't lower their prices too much because they owe the bank what it WAS worth when they mortgaged it.
- badot, on 10/09/2009, -0/+1thanks for share, helpfull for me
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http://kangbadot.com - UtahApocalyse, on 04/23/2009, -1/+2Buried for your "for the better" remarks. How would you like it if you lost your home, then were kicked out of your tent and watched as it was shredded?
- PhilliesBlunt, on 04/23/2009, -0/+1This is great news if your name is Chris Partlow.
- Lockean, on 04/23/2009, -0/+1Philadelphia is also massive, in comparison to Sacramento. I think we have just over 400K people that actually live here and almost half are in apartments or lofts. We may have a few million people in our city every day for work but most of them cannot afford or just choose not to live here. Considering the rather small population, 200 being vacant for more than a year is quite a bit.
- Dread08, on 04/23/2009, -2/+2wow
- inactive, on 04/23/2009, -1/+1Why are they all empty? Are there just too many houses, or can people not afford to rent them even if they don't buy them?
- imzesuit, on 04/23/2009, -1/+1Buried for inaccuracy and bleeding-heart sensationalism. 90% of people in "Tent City" were homeless before the housing bubble burst. Most of these people are chronically homeless vagrants. Sad, but not related to the article, except by deceptive, sensationalist media who have blatantly omitted the truth.
- nickespinosa, on 04/23/2009, -1/+1SQUAT THEM *****!
- sparkmonkeyz, on 04/23/2009, -9/+3Wow. I live about 30 min north of Sacramento in Rocklin so I see this all around the area. I even got a chance to see tent city before Arnold shut it down for the better.
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