A blog about Business & Finance and Politics.
|
Boycott the Bakersfield Business Conference! San Joaquin Bank is done! San Joaquin Bank Chairman selling his Coastal Mansion Crisp and Cole staffer going to the pokey... Jose Arredondo closing the Delano Chrysler store Reich-Wing Czar stupidity called out! Racist CONservatives looking for great White Hope (McCarthy?) Has Bakersfield.com and other local websites becoming irrelevant?The tv stations are even worse. Tea bag movement shrivels... Bright House is a joke! November 06 December 06 January 07 February 07 March 07 April 07 May 07 June 07 July 07 August 07 September 07 October 07 November 07 December 07 January 08 February 08 March 08 April 08 May 08 June 08 July 08 August 08 September 08 October 08 November 08 December 08 January 09 February 09 March 09 April 09 May 09 June 09 July 09 August 09 September 09 October 09 November 09 
RSS 2.0    Share!
|
|
|
Another American Dream turns into a nightmare. If only they had visited the bubble blogs in 2005 or just not listened to the REIC:
Looks like the bubble that many have feared is gaining momentum. I fear the downside will be as strong as the appreciation on the upside. Many homes will be lost, but hopefully many lessons will be learned. I tried to warn people of the dangers of buying into a speculative mania. However, they choose to take the advice of their friendly REIC member (builder, Realtor, mortgage broker, etc...). Look what has happened to this unfortunate soul in 7 oaks - He will soon face foreclosure. The high end of the market appears to be dead, per several Realtors I have spoken with. More on this foreclosure at: http://bakersfieldbubble.bl...
According to kerndata.com, home prices in Kern County are now down 8% in the last 5 months and are now back to summer 2005 levels. Visit my site for details: http://bakersfieldbubble.bl...
Carl Cole of Crisp&Cole fame is retiring (per a local TV station). HUH?? Then he will set up his son in a competing business. They are building a new building and he is leaving before it is finished?? Maybe the rumors were true? A local banker mentioned to me they guys came in a for a loan and discussed separating the business because of some "issues" several months ago. Looks like that rumor was TRUE!
I look forward to the Californian doing another "damage control" piece for these guys. LOL http://bakersfieldbubble.bl...
I have been blogging for almost two years on the mecca of bubble sites thehousingbubbleblog.com, a few months ago I started my own. I receive about 2,000 visitors per month. I hope we can have discussions on the Californians blog as this is an important issue facing our town and many others in the country
bakersfieldbubble.blogpsot.com |
