.... so says an article in today's Fresno Bee. And its true, and I have to admit that I have been behind the curve on market reporting but hope that will change. Its actually difficult to blog all that you would like when you're busy transacting business. Don't get me wrong, I haven't been THAT busy, but the beginning of the year is off to a much better start than last year.
Some of the salient statistics from the article:
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1319 W Bullard #4 -- Fresno CA -- 93711
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© Randy "Lazarus" McAtee
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The Associated Press recently released a map measuring the amount of economic stress being endured by each county in the nation.
As you can see, All of California has been hit hard and Fresno is no exception.
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1319 W Bullard #4 -- Fresno CA -- 93711
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© Randy "Lazarus" McAtee
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From Mortgage Broker to Pole Dancer....another very depressing video on the housing bust.
In Feb Bloomberg reported -- A record 19 million U.S. homes stood empty at the end of 2008 and homeownership fell to an eight-year low as banks seized homes faster than they could sell them.
They also said: the report counted 4.1 million vacant homes for rent and 4.8 million seasonal properties.
Here is an sobering panoramic shot of an entire street up one side and down the other with each home on the street stitched together.
then
These are large images so give them time to load. After the image loads you may need to click it to enlarge.
The guy who took the pictures said it looked like two of the houses were occupied. It looks to me like the entire neighborhood needs to be dozed.
Feel free to comment. What do you think?
Here's the latest on the California Housing Crunch. Bankrupt builders are leaving their creditors with nearly finished homes. The banks, already upside down in the deals no they can never recoup their losses so the demolish the homes as you see in this video below.
Unfortunately the demolition makes sense because the besides finishing the homes the banks would likely be obligated to complete the streets, sidewalks, curbs, gutters, and all the rest of the neighborhood infrastructure. Very sad, especially in light how many people don't have a proper roof over their head.
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