A Snapshot Of Main Street

Posted: October 6, 2008 in Economy

housing-kaboom.blogspot.com is a local blog that I try to check out on a regular basis. The website’s author covers the ever-changing real estate landscape here in the Inland Empire.

Just the other day the author highlighted a piece of property before and after the real estate bust.

Before:

Notice the Hummer and Corvette in the driveway.
As I said in a previous post, it was common back when the market was hot for homeowners to use up all the equity in their home to purchase things like expensive cars, boats and other depreciatable items. My wife told me a couple of weeks ago, a family in our neighborhood not only walked away from their home, but left their Hummer in the driveway as well.

Now check out the house now~

A commenter mention that the house not only has brown grass (some of what you can see in this picture), but also broken windows.

Hey, I want to see folks both on Wall Street and in government who pushed these ridiculous economic policies get kicked as much as anybody else. But again, the amount of outright fraud that took place on Main Street by everyday people was just as bad IMO.

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Comments
  1. Keith says:

    Amen.
    There is plenty of blame to go around.
    From the government, to wall street, to main street.

  2. Now that the prices of homes in the IE are more realistic, it’s time to buy property and pay off some of the principle (and not just the interest).

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