Financial crisis: Homeowners in Manteca neighborhood cope with foreclosures

[Anonymous_IHB]

http://www.mercurynews.com/ci_10701409?nclick_check=1



From the end of the article:

"He thinks about that day in July he left his house. He remembers sitting in the U-Haul and wanting to sit back and gaze upon the house one last time, to savor his life achievement for just a moment. But it was too emotional."



The "life achievement" phrase, I think sums up pretty much the whole problem behind the bubble. A real life achievement would be 70's style mortgage burning party because one finally paid it off. "Buying" the place isn't an achievement - it's just taking on a big responsibility to start paying for it.

 

[halfnote19_IHB]

the link doesn't work

 

[no_vaseline_IHB]

<a href="http://www.mercurynews.com/news/ci_10701409?source=email">http://www.mercurynews.com/news/ci_10701409?source=email</a>



This one will.



I remember reading the lead article to this one a year ago.



<blockquote>MANTECA ? Dave Cantrell considered loading the U-Haul in the middle of the night and leaving while his neighbors were asleep. He couldn't bear to face them. He had become a community leader here, rallying his neighbors to stand up to the builder that was planning to auction off one-third of their new Paseo West subdivision at 40 percent discounts.



For one brief night in his living room on Cistus Street, with his neighbors raising their voices and pointing their fingers, they had united against the one they thought was responsible for their impending misfortune. Cantrell believed he made a difference, that maybe the auction prices wouldn't be as low as he feared, that they would all recover. He promised to have a block party when it was all over.



But in the next 12 months, the housing crisis swept across the country, titans of the banking world disappeared and daily stock market tumbles of 800 points became commonplace. And the one man who tried to save his neighborhood failed. In the end, he couldn't even save himself.



</blockquote>


Hey, you donkeys in the Villages of Columbus! This is your future!



There's a joke going around that goes something like this:



Q. What's the difference between Manteca and the Villages of Columbus?



A. Manteca means "lard" in spanish, and the VoC is built on reclaimed toxic waste dump.



<img src="http://www.papadeltabravo.com/pics/xcuse-me-needz-a-hand-lulz.jpg" alt="" />

 

[GoIllini_IHB]

<blockquote>[quote author="no_vaseline" date=1223895620] ... and the VoC is built on reclaimed toxic waste dump. </blockquote>


Vas, I'm calling you on this one -- finally. Must you end so many of your contributions with false statements similar to this? I honestly do not know what your beef is with the developments at the former Tustin Marine Corps Base. Perhaps you could enlighten me. (I suggest the "Why live there" thread, but maybe you want to start another one.) But perpetuating a false statement such as this is harmful to people. Real people. If you can substantiate this claim, then out with it! If not, then pipe down.