Monday, June 23, 2008
My neighbor is TOAST!
I certainly wondered how the young Hispanic couple next door could afford the house they bought in Dec 2006. The young lady worked at Kohls and the husband was a kitchen installer doing granite and tile. How could a couple with these jobs buy a house at the peak of the bubble? I dunno what they made but I'm sure Kohls is a minimum wage job. Even at the best of times installing counters can't pay much more than $40k. So we have a couple that probably bought a house about 8X their income (yea that's just about right...). They never really did any work to the house in the year and a half they lived in it. They never watered the lawn, painted or did any improvements (although the house was fixed up when they bought it). Last week I wake up and find them having a HUGE garage sale. Even the furniture is on the yard for sale. Putting 2 and 2 together I figure that the end is near. The next day a convoy of cars show up and for the last week they have been loading them up and taking stuff away. Today the house is empty. I suppose it will belong to the bank soon enough. Now I just have to throw some oil into the pool before it becomes a mosquito infested swamp. This is the first one on my street. I wonder how many more I will see???