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Old 08-25-2011, 08:15 PM
 
Location: The Brightest City On Earth
1,282 posts, read 1,895,559 times
Reputation: 581

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As we have seen on the news and heard on the radio, Hurricane Irene is on the way and due to smash into the USA coastline with a fury not seen for years. As I told a co worker we pray and hope for those in its path. After all, we don't have bad weather here. Just heat. But then the co worker said something that left me stunned and shocked. He said that, perhaps we should pray for the hurricane. I thought for a minute he was a looney. I asked him what he had to drink last night!
But then he said something that, when I think about it on a deeper level, makes sense. Imagine if the hurricane was to smash and mash thousands of homes. Homes with under water mortgages and homes sitting empty creating a glut of homes on the market. If the hurricane smashed them, it would allow homeowners to simply walk away and let the insurance company and the mortgage holder fight it out. It would also help cut the glut of homes and perhaps stabilize markets as under water homeowners with destroyed houses go and buy existing houses elsewhere.
So maybe it won't be a totally horrible thing after all.
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Old 08-25-2011, 08:30 PM
 
12,867 posts, read 14,851,268 times
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i like reading your posts, but i am going to pretend that i didn't read that one......

Last edited by floridasandy; 08-25-2011 at 08:54 PM..
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Old 08-25-2011, 08:45 PM
 
5,730 posts, read 10,086,669 times
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He needs to go back to basic economics and read up on the broken window theory.
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Old 08-25-2011, 08:51 PM
 
48,505 posts, read 96,483,446 times
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Heat must be really bad there.
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Old 08-25-2011, 08:57 PM
 
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having been in several hurricanes, i really am praying that everybody stays safe.

i hope we don't have to read about any thrill seekers doing something stupid. (other than jim cantore, that is)
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Old 08-26-2011, 02:11 AM
 
24,334 posts, read 22,884,525 times
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That is true. If a home gets flattened by a hurricane and its vacant, let the bank take the loss. Or maybe they'd be glad it was flattened if they could get an insurance write off for more than it was now worth. Plus they have to go out and hire somebody to clean up the debris, theres some jobs. And if the lot sits vacant, more greenspace.
Not that many homes will be vacant or abandoned.
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Old 08-26-2011, 11:28 AM
 
5,760 posts, read 11,493,673 times
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VegasJoe --

So are you saying that Vegas, Phoenix, and Tuscon just need a Hurricane?

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Old 08-26-2011, 08:12 PM
 
Location: The Brightest City On Earth
1,282 posts, read 1,895,559 times
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Quote:
Originally Posted by texdav View Post
Heat must be really bad there.
It has been horrible. 111 degrees. Still 104 outside now.
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Old 08-26-2011, 08:13 PM
 
Location: The Brightest City On Earth
1,282 posts, read 1,895,559 times
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Quote:
Originally Posted by Philip T View Post
VegasJoe --

So are you saying that Vegas, Phoenix, and Tuscon just need a Hurricane?

I guess we do. We need something to destroy about 20% of the housing stock here.
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Old 08-26-2011, 08:56 PM
 
12,867 posts, read 14,851,268 times
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bubbles are odd, aren't they?

the places that people want to live are the places that get hurt the most when the bubble pops.

if we had any kind of economic recovery, you wouldn't even be worried about the housing stock.

what isn't sold could be rented.

it is sure better than wishing people's homes were flattened, mr. naughty.

remember destroying all those perfectly good used cars didn't make the car market better. it just made it harder to get a decent used car at a decent price.
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