Good article. I'm sure the folks there are nice, but it sounds like a horrible area and hopefully this real estate bust will turn it back into the beautiful desert it once was. I'm puzzled about one of the new residents on the block - the Argentinian couple that bought the foreclosure. First, they paid $240K - way too much, I'm sure they were instantly underwater. Second, he works in maintenence at a bakery ... WTF! I want to know exactly what that job entails and how he can afford mortgage, taxes, insurance, and upkeep (he's building an addition) on a $240K house. What is the pay for a job like that? ... $10/hour, $15/hour???
I believe I have already mentioned, but worth a note again. Moreno Valley is a f*ckin armpit, sorry just telling like it is. It always has been and always will. I looked at foreclosures there in the late 90's, a real dump. That's why I don't get to hyped up about these you tube vids and stuff showing the real estate carnage in these dumps; Victorville, Barkersfield, Perris. All of them are dumps. One of my last telecom sales I made in Southern Ca before I moved to CO the IT manager was from Inland Empire, MV being part of. He joked heck got a beautiful house but it's the 909 ( area code) so I keep my 9 close by. It's so freakin' hot there in the summer, plus 100 everyday.
i'm pretty sure it is..without looking at the home prices and neighborhood itself-looks at the cars of those "cul-de-sac" residents.. old SUV's and pick up trucks..
Interesting. I thought everyone in foreclosure was a baby boomer. Kinda of funny how the only boomer on the block has his house paid in full.