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Foreclosure Alley

Originally posted by: ViviTheMage
the video just loads and loads....

I have no idea what/where IE is...except it is in california.
Click to expand...

Imagine SoCal's armpit.


That's where the IE is.
 
Wow, why would they leave like that? They waited until all they had was cab fare?

That looks like that could be back breaking work with tons of fringe benefits.

"Yeah, I live in a 1600 sq. ft. house with 70 toasters, 20 computers, 8 large screen TVs...."




To those of you out of work in SoCal, follow that truck!

 
root cause? Lost jobs? ARMs? Artificially inflated prices in the area?

My brother bought a foreclosed $550k home for $350k just a few months back in San Diego. It's nowhere near as bad there obviously... I can see all the good deals to be had... but never really thought of it from this angle. Can't believe people just leave personal stuff behind like that.

And can you imagine being one of those workers? Leave that aside... I'll be back tonight with my truck. 😉 Days spent cleaning, nights spent ebaying.
 
Originally posted by: rh71
root cause? Lost jobs? ARMs? Artificially inflated prices in the area?
Click to expand...

Too many people living at the very edge (and beyond) of their income, combined with the other things listed in your post.

I see this with my generation here in DFW as well. Kids making $15/hr, taking home ~$2,000/mo, and then getting into a $1,000/mo apartment, $400/mo car payment, $250 full coverage insurance, and then wondering why they're constantly broke or can't put gas in their car.

Hint for everyone : live within your means, try to have *some* sensibility. If you make $2,000/mo, try to keep your living expenses at 25% or less. Try to keep your transportation expenses at 10-15% if possible. Jeez. You might have to get a roommate, or live in a more ghetto apartment, but at least you'll be able to save up for some security/savings/investments.
 
Originally posted by: rh71
root cause? Lost jobs? ARMs? Artificially inflated prices in the area?
Click to expand...

Not only that, but the entire neighborhood/region is shit. Built out in the middle of fucking nowhere, hot as balls, polluted as fuck.

Srsly anybody that paid 500k+ for those shit houses were not thinking straight.
 
Originally posted by: rh71
root cause? Lost jobs? ARMs? Artificially inflated prices in the area?

My brother bought a $550k home for $350k just a few months back in San Diego. It's nowhere near as bad there obviously... I can see all the good deals to be had... but never really thought of it from this angle. Can't believe people just leave personal stuff behind like that.

And can you imagine being one of those workers? Leave that aside... I'll be back tonight with my truck. 😉
Click to expand...

If I was them I would get together with a few guys, find a cheap warehouse and stash that stuff away and sell if for .25-.30 on the dollar and make some extra money.

 
Originally posted by: Arkaign
Originally posted by: rh71
root cause? Lost jobs? ARMs? Artificially inflated prices in the area?
Click to expand...

Too many people living at the very edge (and beyond) of their income, combined with the other things listed in your post.

I see this with my generation here in DFW as well. Kids making $15/hr, taking home ~$2,000/mo, and then getting into a $1,000/mo apartment, $400/mo car payment, $250 full coverage insurance, and then wondering why they're constantly broke or can't put gas in their car.

Hint for everyone : live within your means, try to have *some* sensibility. If you make $2,000/mo, try to keep your living expenses at 25% or less. Try to keep your transportation expenses at 10-15% if possible. Jeez. You might have to get a roommate, or live in a more ghetto apartment, but at least you'll be able to save up for some security/savings/investments.
Click to expand...

did you even read that when you typed it? /boggle. where is anyone going to find a place that costs that little? even with roommates youre liable to not find that low of a place. it is possible to pull that situation off with good management. problem is, most people dont have good management skills to keep themselves in check when needed. me included. luckily, i make more than 2k a month. my house is abut 20% of my monthly, so im fairly lucky.
 
And the family they interviewed, they know their time is short. They make $3100/month and own a $400K home! WTF!
 
The Inland Empire is southern california's answer to the northern San Joaquin Valley. Both are the shittiest areas in california. You'll see the same stuff happening in Modesto, Stockton, etc. No one wanted to live in those areas in the first place, but they did because they could buy a big ass house for way cheaper than in LA or the Bay Area. Some got in early and are still fine, some got in late and paid $400,000 to $500,000 in an area where homes shouldn't be worth more than $150,000 to $200,000. My parents luckily got out of Salida (san joaquin valley) a few years ago to move to NC and sold the house they paid $280,000 for $435,000. That same house is on the market right now for $160,000.
 
Originally posted by: hanoverphist
Originally posted by: Arkaign
Originally posted by: rh71
root cause? Lost jobs? ARMs? Artificially inflated prices in the area?
Click to expand...

Too many people living at the very edge (and beyond) of their income, combined with the other things listed in your post.

I see this with my generation here in DFW as well. Kids making $15/hr, taking home ~$2,000/mo, and then getting into a $1,000/mo apartment, $400/mo car payment, $250 full coverage insurance, and then wondering why they're constantly broke or can't put gas in their car.

Hint for everyone : live within your means, try to have *some* sensibility. If you make $2,000/mo, try to keep your living expenses at 25% or less. Try to keep your transportation expenses at 10-15% if possible. Jeez. You might have to get a roommate, or live in a more ghetto apartment, but at least you'll be able to save up for some security/savings/investments.
Click to expand...

did you even read that when you typed it? /boggle. where is anyone going to find a place that costs that little? even with roommates youre liable to not find that low of a place. it is possible to pull that situation off with good management. problem is, most people dont have good management skills to keep themselves in check when needed. me included. luckily, i make more than 2k a month. my house is abut 20% of my monthly, so im fairly lucky.
Click to expand...

In DFW, there are plenty of places to rent for $400/mo or so, and electric/water can be $100 or less if you don't try to keep it at 70 degrees all the time. Granted, it may not be the nicest place, but it's better than being broke all the time.
 
Originally posted by: Arkaign
Originally posted by: hanoverphist
Originally posted by: Arkaign
Originally posted by: rh71
root cause? Lost jobs? ARMs? Artificially inflated prices in the area?
Click to expand...

Too many people living at the very edge (and beyond) of their income, combined with the other things listed in your post.

I see this with my generation here in DFW as well. Kids making $15/hr, taking home ~$2,000/mo, and then getting into a $1,000/mo apartment, $400/mo car payment, $250 full coverage insurance, and then wondering why they're constantly broke or can't put gas in their car.

Hint for everyone : live within your means, try to have *some* sensibility. If you make $2,000/mo, try to keep your living expenses at 25% or less. Try to keep your transportation expenses at 10-15% if possible. Jeez. You might have to get a roommate, or live in a more ghetto apartment, but at least you'll be able to save up for some security/savings/investments.
Click to expand...

did you even read that when you typed it? /boggle. where is anyone going to find a place that costs that little? even with roommates youre liable to not find that low of a place. it is possible to pull that situation off with good management. problem is, most people dont have good management skills to keep themselves in check when needed. me included. luckily, i make more than 2k a month. my house is abut 20% of my monthly, so im fairly lucky.
Click to expand...

In DFW, there are plenty of places to rent for $400/mo or so, and electric/water can be $100 or less if you don't try to keep it at 70 degrees all the time. Granted, it may not be the nicest place, but it's better than being broke all the time.
Click to expand...

Never gonna happen in SoCal
 
Originally posted by: Ns1
Originally posted by: Arkaign
Originally posted by: hanoverphist
Originally posted by: Arkaign
Originally posted by: rh71
root cause? Lost jobs? ARMs? Artificially inflated prices in the area?
Click to expand...

Too many people living at the very edge (and beyond) of their income, combined with the other things listed in your post.

I see this with my generation here in DFW as well. Kids making $15/hr, taking home ~$2,000/mo, and then getting into a $1,000/mo apartment, $400/mo car payment, $250 full coverage insurance, and then wondering why they're constantly broke or can't put gas in their car.

Hint for everyone : live within your means, try to have *some* sensibility. If you make $2,000/mo, try to keep your living expenses at 25% or less. Try to keep your transportation expenses at 10-15% if possible. Jeez. You might have to get a roommate, or live in a more ghetto apartment, but at least you'll be able to save up for some security/savings/investments.
Click to expand...

did you even read that when you typed it? /boggle. where is anyone going to find a place that costs that little? even with roommates youre liable to not find that low of a place. it is possible to pull that situation off with good management. problem is, most people dont have good management skills to keep themselves in check when needed. me included. luckily, i make more than 2k a month. my house is abut 20% of my monthly, so im fairly lucky.
Click to expand...

In DFW, there are plenty of places to rent for $400/mo or so, and electric/water can be $100 or less if you don't try to keep it at 70 degrees all the time. Granted, it may not be the nicest place, but it's better than being broke all the time.
Click to expand...

Never gonna happen in SoCal
Click to expand...

And just another reason why Texas > Cali


😛
 
Originally posted by: CPA
Originally posted by: Ns1
Originally posted by: Arkaign
Originally posted by: hanoverphist
Originally posted by: Arkaign
Originally posted by: rh71
root cause? Lost jobs? ARMs? Artificially inflated prices in the area?
Click to expand...

Too many people living at the very edge (and beyond) of their income, combined with the other things listed in your post.

I see this with my generation here in DFW as well. Kids making $15/hr, taking home ~$2,000/mo, and then getting into a $1,000/mo apartment, $400/mo car payment, $250 full coverage insurance, and then wondering why they're constantly broke or can't put gas in their car.

Hint for everyone : live within your means, try to have *some* sensibility. If you make $2,000/mo, try to keep your living expenses at 25% or less. Try to keep your transportation expenses at 10-15% if possible. Jeez. You might have to get a roommate, or live in a more ghetto apartment, but at least you'll be able to save up for some security/savings/investments.
Click to expand...

did you even read that when you typed it? /boggle. where is anyone going to find a place that costs that little? even with roommates youre liable to not find that low of a place. it is possible to pull that situation off with good management. problem is, most people dont have good management skills to keep themselves in check when needed. me included. luckily, i make more than 2k a month. my house is abut 20% of my monthly, so im fairly lucky.
Click to expand...

In DFW, there are plenty of places to rent for $400/mo or so, and electric/water can be $100 or less if you don't try to keep it at 70 degrees all the time. Granted, it may not be the nicest place, but it's better than being broke all the time.
Click to expand...

Never gonna happen in SoCal
Click to expand...

And just another reason why Texas > Cali


😛
Click to expand...

I'd pay the extra to not live in Texas, thanks 😉
 
Originally posted by: Ns1
Originally posted by: Arkaign
Originally posted by: hanoverphist
Originally posted by: Arkaign
Originally posted by: rh71
root cause? Lost jobs? ARMs? Artificially inflated prices in the area?
Click to expand...

Too many people living at the very edge (and beyond) of their income, combined with the other things listed in your post.

I see this with my generation here in DFW as well. Kids making $15/hr, taking home ~$2,000/mo, and then getting into a $1,000/mo apartment, $400/mo car payment, $250 full coverage insurance, and then wondering why they're constantly broke or can't put gas in their car.

Hint for everyone : live within your means, try to have *some* sensibility. If you make $2,000/mo, try to keep your living expenses at 25% or less. Try to keep your transportation expenses at 10-15% if possible. Jeez. You might have to get a roommate, or live in a more ghetto apartment, but at least you'll be able to save up for some security/savings/investments.
Click to expand...

did you even read that when you typed it? /boggle. where is anyone going to find a place that costs that little? even with roommates youre liable to not find that low of a place. it is possible to pull that situation off with good management. problem is, most people dont have good management skills to keep themselves in check when needed. me included. luckily, i make more than 2k a month. my house is abut 20% of my monthly, so im fairly lucky.
Click to expand...

In DFW, there are plenty of places to rent for $400/mo or so, and electric/water can be $100 or less if you don't try to keep it at 70 degrees all the time. Granted, it may not be the nicest place, but it's better than being broke all the time.
Click to expand...

Never gonna happen in SoCal
Click to expand...

🙂 Yeah, SoCal is more expensive than DFW by far, though you can still find cheaper places. Probably better in that case to go the CL roomie route :

http://losangeles.craigslist.org/sgv/roo/869846354.html $475 all utils paid
 
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