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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: orkrious who wrote (60163)8/18/2006 10:18:20 AM
From: MoominoidRead Replies (1) | Respond to of 306849
 
It's interesting that YoY price declines are greatest in MI/OH etc. even though there wasn't much bubble there.



To: orkrious who wrote (60163)8/18/2006 10:20:10 AM
From: Dan3Respond to of 306849
 
Well, at least the out of work homebuilders will have someone to play cards with:

Ford to Cut Fourth-Quarter Production by 21%

By REUTERS
Published: August 18, 2006
DETROIT (Reuters) - Ford Motor Co. (NYSE:F) Friday said it would cut fourth-quarter production by 21 percent and also reduce third-quarter production to accelerate its turnaround plan.

The automaker said it would cut North American production in the fourth quarter by 168,000 units and reduce third-quarter production by 20,000 vehicles.

"We know this decision will have a dramatic impact on our employees, as well as our suppliers," Chief Executive Bill Ford told employees, but said it was the "right call."

He said full details of the acclerated plan would be announced in September.

nytimes.com



To: orkrious who wrote (60163)8/18/2006 10:23:49 AM
From: Wyätt GwyönRead Replies (1) | Respond to of 306849
 
why not just sell your condo and rent a nice house for a year or two? let the missus pick! have you checked rental prices compared to purchases? also, what are property taxes like there? here in Austin, they're very high and make it easier to justify renting.



To: orkrious who wrote (60163)8/18/2006 10:39:26 AM
From: Ramsey SuRead Replies (6) | Respond to of 306849
 
I only have one question -

why do people live in Michigan, or the midwest? <ggggggg>



To: orkrious who wrote (60163)8/18/2006 12:05:15 PM
From: patron_anejo_por_favorRespond to of 306849
 
>>But I didn't think Greenie could bail out the market five years ago and I was wrong.<<

Join the club!<G>



To: orkrious who wrote (60163)8/18/2006 12:07:19 PM
From: patron_anejo_por_favorRespond to of 306849
 
>>What's going to become of Detroit?<<

It's very sad. Debtriot reminds me of New Orleans, in the way both are once proud cities that have been mismanaged into near-obsolesence....



To: orkrious who wrote (60163)8/18/2006 12:52:24 PM
From: MoneyPennyRead Replies (1) | Respond to of 306849
 
I might just yet get my Birmingham townhouse, but of course, with the declining economic base, it will probably lose its appeal. My clients and friends are hunkering down. If you have lived in the area, you are used to the boom/bust economy of a cyclical town. My problem right now is that the boom may be a long time in returning.

I'm in the process of buying a Lexus. My last Lincoln is a piece of crap and disappointing to me and they have nothing that appeals to me. I have an associate that bought a Land Rover which landed in the shop about 5 days after delivery and has been in and out of there for 8 weeks with no offer of recompense from Ford/Jag. Appalling.

Life is not lovely in Motown. Tell Mrs. Ork I played tennis every week at the Weir (Weir Manuel) courts at Quarton and Cranbrook for years. Anyone who wonders about living in Michigan would change their mind if they could see this neighborhood or the lovely towns up north.

MP



To: orkrious who wrote (60163)8/18/2006 12:58:36 PM
From: No Mo MoRead Replies (3) | Respond to of 306849
 
"What's going to become of Detroit?"

In many senses, it's going to get what it has coming to it. For almost forty years, the business that drives the entire economy of the state has lobbied its stooges in Clowngress to reward said industry for building absolutely inappropriate vehicles e.g. SUV's being exempted from CAFE standards, easy to exercise tax breaks for so called "small businesses" that buy SUV's when they are really for personal use, and on... The (former) Big Three refused to recognize the advantages brought to the game from Japan and Europe and chose to sell cars based on a different, non-competetive paradigm.

All of Michigan has sucked at the teet of the auto industry and SE MI especially; municipalities, unions, businesses all along the supply chains. They all got fat and some got corrupt. Detroit is a museum. Patron is right, it was a proud city. I grew up in the Thumb and when we were in high school, there was no greater adventure for us than to drive straight down Van Dyke into that huge architectural ghost town.

I'm in India right now, Agra actually, and I can draw parallels between the Mughal empire and the rust belt. I've spent a lot of time traveling all over the world and nowhere have I seen the wholesale abandonment of capital as I have in the Rust Belt. Sad to say, the Motor City is the crown capital.

"Kick out the Jams"

A proud former Michigander



To: orkrious who wrote (60163)8/18/2006 5:49:10 PM
From: mishedloRespond to of 306849
 
I vote for Petosky, Luddington, Traverse City or ...
The sleeping bear dunes area - Glen Arbor
Not sure you can find any bargains in that last one.
I love that area
leelanauchamber.com

Mish



To: orkrious who wrote (60163)8/21/2006 9:23:25 AM
From: Pogeu MahoneRead Replies (1) | Respond to of 306849
 
What's going to become of Detroit? It's in deep shit. I'll bet it's what most of the country looks like in another year or two.

THOMAS ROONEY
Corroding sewers, not Alaskan oil pipes, are the real danger
By Thomas Rooney | August 15, 2006

AS BAD AS they are, the corroding Alaskan oil pipelines in the news are far from the worst in America -- though you might never know that from recent headlines, and as I found out in the media aftermath of the pipeline shutdown.

As head of a company that repairs more oil, water, and sewer pipes than any other firm, I found myself talking to print and electronic reporters from across the country who wanted to know the inside story of the Alaskan pipes. Some were just a tad disappointed when I reminded them that the pipeline was shut down because of potential problems, not actual ones. And the pipeline would probably be back in service within a few months, and crude oil prices were already headed back down.

The oil pipes received a lot of attention. But remember this: No one died. No one got sick. No pristine land was despoiled. It will cost us some money.

But only a few people are talking about the broken pipes that really hurt our environment, get people sick, cause people to die, and cost even more money than oil pipeline shutdowns.

We are talking about sewer pipes, of course. Even the worst Alaskan oil pipe is in better shape than your average city sewer pipe, including cities like Boston, where the first sewer system was installed in the 1800s and the harbor is still recovering from decades of dumped sewage. Say what you will about oil spills, but they are usually small and in remote places where damage to human life, property, and wildlife is minimal. I've seen enough of both to know this: Crude oil is much cleaner and less toxic than sewage. And oil spills are a lot less common. Yet oil gets all the ink, while sewage escapes scrutiny.

Last year, the Environmental Protection Agency reported there were 73,000 sewage spills in America. Over the last several months, more than a dozen places in this country have had the worst sewer spills in decades, if not in their history. Billions have been spent for cleanup, remediation, and healthcare costs because of these spills. The reason is sewer pipes that are old, eroded, broken, even corroded to the point of non-existence, almost 1 million miles of them in this country.


In Hawaii, earlier this year, 50 million gallons of raw sewage spilled from broken pipes onto the most beautiful beaches in the world. That damaged an entire economy, made many sick, and caused one death. If they are not watching sewer pipes in Hawaii, do you think your town is any better?

A recent UCLA and Stanford study says water polluted with sewage sickens 1.5 million people a year in Southern California alone. Detroit has the same kinds of problems, except all of its sewage discharges go into the Great Lakes, a source of drinking water for tens of millions of people.

The headlines tell the story, but no one is connecting the dots: Cities in North Carolina, Maryland, California, Texas, Louisiana, Washington, Oregon, and elsewhere are reporting the worst sewer spills ever. In Louisiana, the sewers are in worse shape than the levees, and present the greatest threat to health there. In Texas recently, a sinkhole caused by a rotting sewer pipe is the chief suspect in the disappearance of a boy reported missing after playing near the hole.

Bad sewer pipes are a problem that the country can no longer ignore. And it will get worse for two simple reasons. One, most sewer pipes were built 60 years ago, and only intended to last 50 years. Two, not enough people pay attention until they break.

A few months from now the oil will be flowing again in Alaska. The problem will be largely forgotten. Meanwhile, sewer pipes across the country are on the brink of collapse -- not in the wilds of Alaska, but right nearby. Right next to a nearby source of drinking water, a playground, a lake, or a beach.

Thomas Rooney is president and chief executive officer of Insituform Technologies, a publicly traded company.

© Copyright 2006 Globe Newspaper Company.



To: orkrious who wrote (60163)11/6/2006 8:01:31 AM
From: orkriousRead Replies (3) | Respond to of 306849
 
Fast forward to today. There are 14 condos for sale in my complex. Not one has sold this year. People are desperate. Units that people paid $240k for a few years ago are asking $219k. Someone who paid $225k just lowered their asking price to $199k.

An update on my August post...from the Michigan front lines...

Not one condo unit in my complex has sold through an agent this year.

On Saturday there was an absolute auction on a unit. I was out of town so I sent my stepson to observe. The brochure said that the auction was to settle the estate of the owner. I don't know whether or not the heirs just wanted to get rid of it, whether it was to settle debts, or whether a bank owned it.

There were roughly 10 people there who registered to bid.

The winner paid $160,000 plus a 10% auction fee.