Lemme share a bit of how the 5 county Sacramento, CA home building scene progressed from about '02 to '06.
In '02, biz was buzzin. In Sept of '03 I took a job with a hydroseed and erosion control company. I was sent out at times thru the 5 county region to building sites. If dirt moved, I was 'sposed to visit.
Now PLEASE consider, this is the Central Valley of CA, and look on a map for Sacto, and go north and south and east and west about oh, 50 miles out.
I could go, in SOME areas, to a spot where earth was being moved. And in a 360 degree sweep, to the horizon, there was no development, but earth was being moved.
Now, I'm no map maker, so some of you genuisii out there figger out how many miles it was all to gether to calculate square miles to the horizon in a 360 degree sweep center?
N that was in many, many places.
Hundreds of thousands of houses. Hundreds, thousands, of developments. Every homebuilder on the planet was building. D.R. Horton was certainly one of those builders.
N most of this was to expect the exodus from the Bay Area, Los Angeles. They were coming, as were others.
N all of a sudden, these houses started NOT selling in '06. N then, foreclosures started.
Overbuilding. Overspeculation. Overdevelopment.
Overloaning. Overbuying.
Perfect storm.
Bubble collapses and takes labor, managers, white collar archies, white collar financiers, and the like with them, like a drowning Moby Dick of a Titantic in the swallowing suction of its blowback.
To Davey Jones Locker where the fishes sleep.
(cue promo for GREAT band from Santa Cruz, Devil Makes three)
http://www.youtube.com/watch?
v=v...feature=related
Here's their place:
http://www.thedevilmakesthree.com/
Some good clips. This trio rocks. Love 'em.
Django, Dawg, Swing, Old Timey, Alt Acoustic Punk pure home grown and insanely delicious.
The Plank
The Graveyard.
Must listens. Must.
Harumph.
More like the blind leading the stupid.
larue, my sister got caught in said storm -- bought house in Sac area in '99, put house on market in early '06 when she and BIL took jobs requiring a long commute. Took house off the market more than a year later, after multiple price drops and bought a hybrid for carpooling.
Commenting by HaloScan
