Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Location: When you take flak it means you are on target
7,646 posts, read 9,894,669 times
Reputation: 16451
Advertisements
Phoenix is running into this. The neighborhoods that were $350K and are now $75K are being bought by Mexican immigrants which are bringing gangs and crime problems into what were formerly upscale sub-divisions. See the City-Data Phoenix forum on this.
I am still a flipper - it's just that there are no properties to flip. I'm not going to buy a million dollar house that is worth 500K in a market where it will be worth 400K by the time I flip it, unless I can buy it for $200K - and nobody will sell for that - so the market continues to decline adn those of us with money to invest buy cheap rental property or oil futures.
Phoenix is running into this. The neighborhoods that were $350K and are now $75K are being bought by Mexican immigrants which are bringing gangs and crime problems into what were formerly upscale sub-divisions. See the City-Data Phoenix forum on this.
I am still a flipper - it's just that there are no properties to flip. I'm not going to buy a million dollar house that is worth 500K in a market where it will be worth 400K by the time I flip it, unless I can buy it for $200K - and nobody will sell for that - so the market continues to decline adn those of us with money to invest buy cheap rental property or oil futures.
Almost entirely false. Maricopa and Queen Creek were never upscale. I've examined hundreds of deeds in Phoenix for homes that were in the 150-220 range. 80% are hispanic surnames, including 2 out of the last three that I purchased. Mexican immigrants are perfectly welcome in my neighborhood; illegals are not, and the ones that came legally are some of the biggest supporters of getting rid of the illegals.
I'm appalled that this thread even got this far. To call people "riff-raff" and "crackies" because of the price of their house is ridiculous. It's that type of thinking that got us into this mess: people buying houses and other things they couldn't afford to impress people they don't know.
Who are the real "riff-raff"?
1. People who can't do simple math and think they can afford something just because a bank says so just so they can appear "upper-class".
2. People who think it's OK to not pay for the roof over their heads for months on end, and get tax-free loan forgiveness, leaving the rest of us who do pay our mortgages with lower property values and vacant houses (which does attract crime).
Until we clear up our moral bankruptcies in how we value ourselves and each other, our financial values will never recover.
OK, can we close this thread now before someone gets hurt?
To me, Riff-raff would be people who are going to use the house as a boarding house--huge problems, even in some very affluent areas. Then there are the meth heads--absolutely a low class of people, and a severe determent to the community, and then there are the dog breeders,--and then you could have a combination of all three. Riff -raff is not someone, who comes into a neighborhood he previously couldn't afford and pays cash.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
