[olecapt]

I will give you an argument on this one dyn...Mike and thousand of others made rationale buy decisions given the time and place. Mike made some other bad decisions about how to handle the financing but basically that is a secondary concern. He got sucked in on the refinance in a while scheme.

I have a little analysis of such a tract in the NW that I will publish in the next few days. What it says though is basically everybody who bought in the tract has been savaged and virtually all will have to take a large loss or a foreclosure/short sale eventually. Perhaps a third of the place are absentee owners but the rest were simply folk looking for a home. And the hit is so large that virtually nobody will get out without bank help.

In fact the hit is so large that most of those people should likely bail...and now while the tax implications are minimal and to start the clock on the credit damage that occurs.

[dynimagelv]

Originally Posted by olecapt

I will give you an argument on this one dyn...Mike and thousand of others made rationale buy decisions given the time and place. Mike made some other bad decisions about how to handle the financing but basically that is a secondary concern. He got sucked in on the refinance in a while scheme.

Can't really disagree with ya Capt.....sucked in being the operative word....same as my uncle and a ton of farmers in the 80's....the result of bein naive about the integrity of the lending institutions.[boy am I gonna catch crap for that statement ]

I lost my faith in banks and lenders as honest people after all the farm auctions.....now they've moved to the home auctions.....

[jfkIII]

Originally Posted by olecapt

In fact the hit is so large that most of those people should likely bail...and now while the tax implications are minimal and to start the clock on the credit damage that occurs.

Excellent point, Jim. So many hold off for so long, thus deepening the hole that they will eventually have to climb out of. If one is going to have to climb out of a 20-foot hole...why not stop digging at 6-feet....where one would have less to climb...and would get out that much quicker.

[robertpolyglot]

I'm from a decent enough suburb of Los Angeles. One of my friends moved there. She is a white female and bought herself a "cute" newer home on the West Side. She claims to like it but also hasn't made any friends...in 2 years. I think she just likes the house she got and the kick up from L.A.

I've gone to visit her several times. The pluses are: (1) everything is new and the freeways/streets are wide, (2) prices are reasonable, and (3) except for the blistering summer heat, there is nice comfortable weather most of the year.

The down side is that: (1) everywhere I went, the people seem calloused, rude and with a completeley disinterested M.O.. It seems like a hard town, sending the worst of LA and the East Coast, except for some nice people who want to buy a house, maybe (Sorry) I've sat in Starbucks coffee shops in the center, the near suburbs, Summerlin and Henderson and was hard pressed to find people that seemed nice and upstanding. Same thing for the health clubs. I wouldn't dream of putting important belongings in the locker. And I've lived in a handful of large to medium US cities, (2) with the calloused people, comes the crime. I could see this as being replete with muggings and carjackings. Maryland Parkway and Sahara are scary, as are other areas east of the Strip.

I think that a clean cut guy would feel really out of place here.

[AA702]

You just described Oakland, CA

[dynimagelv]

Originally Posted by robertpolyglot

The down side is that: (1) everywhere I went, the people seem calloused, rude and with a completeley disinterested M.O.. It seems like a hard town, sending the worst of LA and the East Coast, except for some nice people who want to buy a house, maybe (Sorry) I've sat in Starbucks coffee shops in the center, the near suburbs, Summerlin and Henderson and was hard pressed to find people that seemed nice and upstanding. Same thing for the health clubs. I wouldn't dream of putting important belongings in the locker. And I've lived in a handful of large to medium US cities, (2) with the calloused people, comes the crime. I could see this as being replete with muggings and carjackings. Maryland Parkway and Sahara are scary, as are other areas east of the Strip.

I think that a clean cut guy would feel really out of place here.

I have to disagree, I see clean cut people all over the place....including myself

At home depot and loews I see clean cut people that are scruffy from working in their yard....maybe its the people that go to Starbucks and the health clubs that are scruffy........

[grover30]

Originally Posted by crystalblue

Different from other areas of the country?

No such thing as same. Even twins are different

[MIRABEAU09]

thank you for information.

David to south of FRANCE

[jfkIII]

Originally Posted by robertpolyglot

It seems like a hard town, sending the worst of LA and the East Coast, except for some nice people who want to buy a house, maybe (Sorry)

Please, LV, take more! No wonder the population keeps increasing. I know a quite a few LI'ers I can send that way.

[robertpolyglot]

Originally Posted by dynimagelv

....maybe its the people that go to Starbucks and the health clubs that are scruffy........

Not at all, they are actually more SLICK...in a tacky and can't be trusted sort of way. I saw more SLICK than SCRUFF in all corners of Las Vegas, from the low-end to the high-end.

My friend with the newer house in a new SW neighborhood wants me to move there, but I hem and haw...based on the Starbucks sniff test. She has agreed, though, saying that one has to be real careful as to who they befriend there.