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huw

Fort Myers Housing Auction

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Guest casaloco

The developers "feel terrible" for the people wh paid $300,000 for identical houses a few weeks before but $145,000 was a fair market value....

Altogether.....

POP!

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A must see. The outrage of the people who bought a few weeks back is a joy to behold.

Market value = the price the market will pay. Learn the rules.

Soon to be seen in the development down your street.

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Read an article today about a couple in Florida, meagre earnings - one was giving violin lessons to local children. Problem - 10 of her students had gone, the families had upped and left, rapidly rising taxes associated with HPI and other costs had driven them out. Florida is a low wage economy. Low wages and high costs = disaster for many.

I bet the investors didn't give a damn about the knock on effects.

Now who actually turns up to an auction like that unless they are buying, new owners or investors, my bet is the latter.

How dare they do that? We were promised yada, yada, yada.

Obvious not looked at the loan reset schedule, this thing has hardly gotton off the ground yet.

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Managed to find it again............

http://www.sptimes.com/2007/06/11/State/Su...sn_t_pay_.shtml

Sunshine doesn't pay the bills

Second of two parts: Signs of an exodus are here. Some blame the real estate slump; others aren't so sure.

By DAN DEWITT

Published June 11, 2007

photo

Cynthia Jolley and her husband Walter Hause had a yard sale at their Thonotosassa home in preparation to move to Tennessee.

Where are they all coming from?

Peggy Castro, 51, works to pack up their belongings at her St. Petersburg home. Castro and her husband are moving to Georgia where their homeowners insurance will be a tenth of what it is in Florida.

U.S. News Video

THONOTOSASSA - The half-dozen child-sized violins lined up on Cynthia Jolley's driveway were once played by students at her Temple Terrace music studio.

She closed the studio in October because of increasing expenses and declining enrollment - including 10 students whose parents either left the state or told her they planned to. By last month, the violins had become yard-sale fodder to unload before she and her husband, Walter Hause, move to her hometown in central Tennessee.

"Actually, if we stayed, we wouldn't have had anybody to teach, " Jolley, 40, joked. "It seemed like we were losing everybody."

So it is across the state. Squeezed by rising property taxes and homeowners insurance rates, and frustrated by crowded roads and schools, increasing numbers of residents are moving from Florida, which since World War II has been one of America's favorite states to move to. To be sure, Florida remains a strong lure, particularly for retirees, but evidence is mounting that the migration boom it experienced in the first half of the decade is over:

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mazing would love the BBC to show this. I feel sorry for anyone who has paid top dollar on a new build in this country as unsold developments will go the same way. Very Entertaining and how I love market economies.

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Ha ha!

It appears we're all a bunch of nasty bar-stewards really.

But not as nasty as the f*uck-awful, blood-sucking parasitical larks' vomit BTL investors like Rosie 'fu*ck the young generation' whatever her fu*cking name is.

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It was very funny to watch the guy who had paid $300k spew over the fact that presumably identical homes were sold for $145k shortly afterwards. If he was being reposessed i would have sympathy, but as it is he was just livid that he had done a bad deal. The woman who complained of a lack of loyalty from the developer was priceless. Great clip!!!

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Huw, can I just congratulate you and say thanks for one of the best finds I've ever seen on here, keep it up ;) Fukc me it's carnage over there :o D'ya know what was ace? The news reader saying it was FTBs winning at the auction..Yeesss!

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Huw, can I just congratulate you and say thanks for one of the best finds I've ever seen on here, keep it up ;) Fukc me it's carnage over there :o D'ya know what was ace? The news reader saying it was FTBs winning at the auction..Yeesss!

Glad it's being enjoyed, it made me laugh out loud the first time I watched it :lol:

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Glad it's being enjoyed, it made me laugh out loud the first time I watched it :lol:

That video is dynamite, it encompasses so much about the bubble, the mentality, the players. What is most unnerving is the attitude of the presenters and approach of the presenters. Quite surreal.

If you submit it to these sites I reckon you'll have your name in lights.

http://housingpanic.blogspot.com/

http://immobilienblasen.blogspot.com/

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Managed to find it again............

http://www.sptimes.com/2007/06/11/State/Su...sn_t_pay_.shtml

Sunshine doesn't pay the bills

Second of two parts: Signs of an exodus are here. Some blame the real estate slump; others aren't so sure.

By DAN DEWITT

Published June 11, 2007

photo

Cynthia Jolley and her husband Walter Hause had a yard sale at their Thonotosassa home in preparation to move to Tennessee.

Where are they all coming from?

Peggy Castro, 51, works to pack up their belongings at her St. Petersburg home. Castro and her husband are moving to Georgia where their homeowners insurance will be a tenth of what it is in Florida.

U.S. News Video

THONOTOSASSA - The half-dozen child-sized violins lined up on Cynthia Jolley's driveway were once played by students at her Temple Terrace music studio.

She closed the studio in October because of increasing expenses and declining enrollment - including 10 students whose parents either left the state or told her they planned to. By last month, the violins had become yard-sale fodder to unload before she and her husband, Walter Hause, move to her hometown in central Tennessee.

"Actually, if we stayed, we wouldn't have had anybody to teach, " Jolley, 40, joked. "It seemed like we were losing everybody."

So it is across the state. Squeezed by rising property taxes and homeowners insurance rates, and frustrated by crowded roads and schools, increasing numbers of residents are moving from Florida, which since World War II has been one of America's favorite states to move to. To be sure, Florida remains a strong lure, particularly for retirees, but evidence is mounting that the migration boom it experienced in the first half of the decade is over:

TBH, this is the downside of unregulated planning permission. It is unlikely that this will happen (wholesale abandonment of areas) in the UK (other than Thamesmead which is rather like these newly thrown up places).

Labour talk about "building sustainable communities" is actually common sense and prevents this sort of mess. New housing needs to be either planned or allowed to grow organically (i.e. people build their own homes in hamlets which grow into villages, towns etc). Allowing speculators to spew new towns across the land at will is a recipe for disaster.

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