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STOCKTON, Calif. – Officials in Stockton said Tuesday that mediation with creditors has failed, meaning the city is set to become the largest American city ever to declare bankruptcy.
Another conservative stronghold files for bankruptcy because the people there won't pay for the services they use. Everyone seems to want something for nothing.
Yep, it was ground zero for the housing bubble. Bummer.
It was basically a very undesirable place which people moved to for cheap housing but later decided they didn't want to drive 2-3 hours each way to get to their job. There was a ton of speculation by builders who thought they could build and flip cheap housing but that just didn't work out after the bubble popped. Sad but that's the way the cookie crumbles. Sometimes when you speculate you lose.
It was basically a very undesirable place which people moved to for cheap housing but later decided they didn't want to drive 2-3 hours each way to get to their job. There was a ton of speculation by builders who thought they could build and flip cheap housing but that just didn't work out after the bubble popped. Sad but that's the way the cookie crumbles. Sometimes when you speculate you lose.
Yeah, pretty much. I lived in Stockton for 3 years while attending college, and couldn't get out fast enough! I came back to the Bay Area, figuring the high COL was better than living in that pit.
Sure, the speculators deserved it, but Stockton is a poor town, and the **** rolls downhill, ya know?
The unemployement rate is 20% in Stockton. It was Bay Area flipper scumbags that did it, just as they crap their pollution over into the valley. I bet they have all written off their losses or pocketed their gains and left Stockton to rot. Typical.
Sure, the speculators deserved it, but Stockton is a poor town, and the **** rolls downhill, ya know?
The unemployement rate is 20% in Stockton. It was Bay Area flipper scumbags that did it, just as they crap their pollution over into the valley. I bet they have all written off their losses or pocketed their gains and left Stockton to rot. Typical.
Yeah as if Stockton bankruptcy and greater CA financial problems have nothing to do with the fact that we spend $22 billion on illegals.
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