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Wednesday, October 03, 2007

Always Exciting

Here's the headlines I woke up to this fine morning regarding a landslide that's about one-half mile from my house:

Evacuations Ordered After Hillside Buckles

Two dozen homes imperiled

Geology crew flees collapse

Mountain sliding into homes downhill

Mount Soledad hillside gives way

Well, I suppose since we don't get earthquakes, tornados, hurricanes, wind, snow, cold, or even too much heat, we deserve some class of occasional semi-natural disaster. I added the "semi" before "natural" because I'll bet that the incessantly leaking water and sewer mains in that area had at least something to do with the slide.

My house is far enough away and in much more stable rock formation so it won't affect me directly.

Oroborous predicted that housing prices in San Diego would drop and he's right! I'm sure the badly damaged ones will be down at least 60%!

9 comments:

Oroborous said...

Now, now, play nice.

Besides, beautiful, completely-undamaged homes in San Diego are ALREADY down 10%, and if you're really interested, I can provide you with examples of homes in the area that are down 50% from their 2005 sales prices.

Flagler Beach Lover said...

Thank God you're okay.

Brad S said...

oroborous,

I'm sure you can provide examples of homes off 50%. I'm also dead certain those homes were sold at a foreclosure auction, which from my understanding is not counted on the NAR statistics.

Let's just say these next few years are going to give us a great education on the disposition of "excess" real estate.

Brad S said...

IOW, orborous, don't automatically presume that home prices ANYWHERE have to go down by at or near the same amount of increase. Those are tangible investments, after all, and all measures at asset protection will be employed.

Bret said...

Flagler Beach Lover,

Yeah, from what I can tell, nobody at all got seriously injured and I'm definitely thankful for that.

Hey Skipper said...

Wow. Nice neighborhood.

Well, at least the parts not unduly susceptible to gravity.

Oroborous said...

I'm also dead certain those homes were sold at a foreclosure auction...

You're also completely wrong.

Bret said...

Are you dead certain of that? (just kidding)

Bret said...

hey skipper wrote: "Well, at least the parts not unduly susceptible to gravity."

Yeah, gravity is such a pain in the neck.

BTW, our house is a half-mile DOWN the hill in a bit of a lower rent district. It's nice enough though.