The Neighborhood...

So in getting back to the swing of things after a long vacation (it has been 4 years since my last one) I find my neighborhood in a kind of disarray or actually... abandonment. Of the five houses on the lake... mine is the only one that is occupied. And you know since there are so many houses for sale, it brings everyone's home value go down. That is never good, but with the economy the way it is, well nobody is selling unless they are offering big discounts. And that is another problem, because I think my neighborhood was bought up by people looking to cash in on the real estate market... and now that is gone, but the mortgage is not, and so people get in this mode of not wanting to take less than what they paid, or break even. But the property sits empty, and the grass keeps growing, and mulch needs to be spread, and on and on. It looks grim.

And that is just from their point of view. For me and my family, this is where I live. What I'm saying is, I didn't buy in my neighborhood to sell it for a profit, I mean I'm sure when I do sell it, I would like to see a profit, but I didn't buy it just to flip it two years later. And it really looks like everyone else (mostly) just bought it to flip. And now you have some less desirable renters and abandoned/foreclosed houses.

My neighborhood is not the only place that this is happening. Heck it is probably everywhere, I just can't help thinking that this was a relatively small development, and the amount of house flippers, etc. is worrisome. What me worry? Yeah maybe...