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Old 10-01-2008, 01:42 AM
 
Location: Sputnik Planitia
7,403 posts, read 10,494,344 times
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This is a good watch from KCET with reporter Lisa Ling, it is about the "inland empire" region which is on the outskirts of Los Angeles. This area grew very rapidly in 2004-2006 with mostly the help of subprime and Alt-A loans.

Foreclosure Alley - SoCal Connected
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Old 10-01-2008, 03:08 AM
 
2,652 posts, read 5,147,825 times
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Wow. Just Wow.

I cannot believe all the stuff people left behind. What a mess we have made for ourselves.

Very impactful video. Thanks for posting & reps for you!
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Old 10-01-2008, 05:52 AM
 
3,283 posts, read 4,974,211 times
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Quote:
Originally Posted by k374 View Post
This is a good watch from KCET with reporter Lisa Ling, it is about the "inland empire" region which is on the outskirts of Los Angeles. This area grew very rapidly in 2004-2006 with mostly the help of subprime and Alt-A loans.

Foreclosure Alley - SoCal Connected

it is sad to see. the reality is that these homes are being kept this way (empty) by the bank bailouts. if a bank or anything goes underwater, the normal procedure is for its assets to be sold to the highest bidder. if there is nobody bidding, they lower the price, simple. in the case of the banks, they are being kept afloat by the govt. this gives them an opportunity to hold onto these assets for as long as they want in the hope that someday they'll get a better price. the people move out, nobody buys and the places sit empty.
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Old 10-01-2008, 09:26 AM
 
Location: Barrington
63,134 posts, read 42,893,262 times
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It's not possible for those of us not in areas like this to fully comprehend what's happening.

Imagine the mindset, of fleeing into the night, with the shirt on your back, when you don't have to do so. The opposite of mania is depression.
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Old 10-02-2008, 07:50 AM
 
Location: Charleston, SC
5,615 posts, read 14,008,288 times
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I'm surprised they don't donate the stuff to charity. As a business you get the tax writeoff, and there's a whole lot less waste involved.
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Old 10-02-2008, 08:04 AM
 
Location: Cary, NC
40,256 posts, read 69,641,007 times
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Originally Posted by scuba steve View Post
I'm surprised they don't donate the stuff to charity. As a business you get the tax writeoff, and there's a whole lot less waste involved.
Watching the video shows that charities are not working with them.
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Old 10-02-2008, 09:53 AM
 
Location: Charleston, SC
5,615 posts, read 14,008,288 times
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Originally Posted by MikeJaquish View Post
Watching the video shows that charities are not working with them.
Sorry... I stopped at about 5 minutes in. Maybe Craigslist would be a better option. Seems like they could almost operate their own second hand shop, kind of like what I hear airlines do with bags that are never claimed and whose owners can't be found.
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Old 10-02-2008, 11:35 AM
 
Location: Mesa
22 posts, read 58,751 times
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Quote:
Originally Posted by MikeJaquish View Post
Watching the video shows that charities are not working with them.
It is such a sad situation, I wish someone from Goodwill, or another charity like that, could go to each job site and have a representative there along with the "trashout" crew. I see many homes here in the Phoenix area that are in the same situation.

Recently I have experienced many more buyers interested in the bank owned homes and some are selling above the asking price, which is good news. We do have a long road ahead of us though.

Rob
Agent4Autism.com
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Old 10-02-2008, 12:33 PM
 
1,961 posts, read 5,757,707 times
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My brother in law lives in the inland empire and he was telling me that his neighbor is selling everything from his house. And I mean everything. Apparently, you can buy the cabinents and front door which he has replaced with a plywood door.

It is really bad there. I'm not surprised considering when most of his neighbors moved in they put almost nothing down and spent money like it was going out of style.
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Old 10-03-2008, 08:22 AM
 
3,852 posts, read 12,346,270 times
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Wow I'd love to have that job. I'd sell all the small stuff (like clothes) on ebay.

As for everything else, you could just post an ad on craigslist and you'd probably get 5-10 people show up with their trucks that day to take all the furniture, computers etc.

That is what I did with my old table. The next day it was gone. No need to call a garbage man or pay any fees. One little ad on craigslist and someone picks it up for you, for free. I recommend everyone to do that if they need to get rid of some garbage.
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