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New Utah Houses In Default

Titled “Tailor Built Homes Site Visit 1.9.19”

This Post Has 29 Comments
    1. Oh dear. Lawsuits suggest someone got defrauded. But I have it on good authority – the REIC trolls who crop up on the HBB from time to time – that the shady practices that doomed Housing Bubble 1.0 were a thing of the past and it’s different this time, what with tightened lending and all. Are you saying it isn’t so, Ben?

    2. Who hit those houses with an ugly stick? I thought I saw ugly McMansions in Bubble 1.0, but wow the designs on those things. You can see the ugliness taking shape when they are only half finished.

  1. Beautiful footage of the Wasatch Front. Utah captured my heart the first time I visited my wife’s family there in the early 1990s.

    Too bad, so sad, for all those defaulted homes!

  2. F’d buyers, take note:

    How to survive your own financial crisis
    Published Wed, Feb 27 2019 • 9:08 AM EST Updated Wed, Feb 27 2019 • 12:52 PM EST
    Jill Cornfield
    Key Points
    – Most American workers live paycheck to paycheck.
    – Others have improved their finances, and you can, too.

    Think you’re the only one who’s living on a financial knife’s edge? You are not alone. Recent data show most American workers live paycheck to paycheck.

    The statistics seem accurate to Joseph Driscoll, a 39-year-old San Diego resident on active duty with the Coast Guard. His co-workers began panicking before the first paycheck was missed during the December-January partial government shutdown.

    Driscoll is also a financial coach – yet his own finances were once far from healthy. He and his wife lived paycheck to paycheck until the day they had had enough. “We had campers, jet skis and $52,000 in debt — and this was after cleaning up debt previously,” he said.

    1. This is pretty pathetic.

      “Low-cost alternatives

      Becky Pfaffenbach Nova, 35, says it took her a long time to learn to manage money.

      New York City is expensive, and Nova, now a medical operations specialist, was constantly squeezed. Sometimes she asked her fiance to pay her subway fare, pretending she didn’t have her card handy. But the reality was, she didn’t have $2.75.”

    1. ” James Lindsay calls “idea laundering”—creating misinformation and legitimizing it as objective truth through repetition in sympathetic media.”

      They are just now catching on to this in Seattle?

    2. No, they aren’t. Seattle will continue it’s slow decay, along with the rest of the west.

  3. With oil surging, anyone want to start a pool on when ABQ Dan is going to return from his Crow Mountain self-exile to grace the HBB with his presence?

    Come back, Dan. We’ve missed you. Easter should be a time of new beginnings.

  4. “We’re definitely at the boiling point, whether it’s the housing crisis, whether it’s quality of life, which is exacerbated by the worst traffic congestion in America, or the affordability crisis,” said Supervisor Aaron Peskin.

    Stamp your little feet!

    1. Contractor took the money and ran. Happens all the time in housing construction. Housing construction is the bottom of the barrel, low profit sector of construction.

    2. They weren’t even really a company, it was a ponzi scheme. They had [foreign] investors and it was set up so if you invested in the property, you got an unexpired green card — you got citizenship for it.

      Hmmm. Either somebody is obfuscating or it would seem they don’t have a strong understanding of green cards. Or citizenship. But OK.

      I closed on my house at the end of April, but it wasn’t finished.

      Why on earth would you close if it wasn’t finished? That’s like putting a kick me sign on your own back. On purpose.

      people who were in the process of buying where they paid for upgrades and Serene walked away with the money

      Ah, I get it now. Monkey trap. Can’t let go of what you thought you were going to have even when it’s obvious something very bad is about to happen.

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