Economic Collapse High End Homes

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Aaron travels to Thurston Oregon a suburb of Springfield Oregon near Eugene Oregon to look at the economic collapse. Aaron takes a look at a newer housing development with homes ranging in price from $300,000 to 700,000. Aaron finds many homes for sale and empty. Many of the houses have signs in the window stating they are owned by the bank.

Category:

News & Politics

Tags:

• Economic
• Collapse
• Eugene
• Springfield
• Thurston
• Oregon
• bank
• owned
• foreclosure
• bankruptcy
• Lane
• County
• Communism
• socialism

[BTSchnauzers]

Hi Arron,

thanks for the vids!! Always interesting.

How are the goats and other farm animals doing?

[adb024]

Doing great. Did you see my Chick video I've been hatching chickens. Theres a whole new batch of eggs in the incubator. Probably try to sell them on craigslist.

[Swifive]

Great report Aaron.

Just so you know,  The developer puts in all improvements.....streets, power, etc and then deeds it to the city.

Got that farm / rural real estate report on the schedule yet????

thanks

[adb024]

Thanks for the Info. I figured that after watching the video and that I had said that. Didn't make since. I assume the city is closely involved with it trough codes and inspectors.

[adb024]

O yeah the farm rural real estate that might take some time a lot of country roads to cover. Thank you for the reminder.

[rayme4raw]

5 stars for the gun range comment. High end homes with no yard. If I had $400,000 to blow on real estate, I'd be getting my self a least 10 acres out in the country and start up a micro farm.

[hvanoorschot]

These houses were never owned by anyone because they were financed by banks and thus basically owned by banks. Now that the people can't afford the mortgage the banks take back what's theirs and put it for sale. It's a housing bubble that should not have happenend if people wouldn't let themselves be fooled by apparently cheap mortgages.

[uwaobear]

Good video, thanks for posting.... one note I have is that the developer put in the streets and streetlights. If there's no gate at the entry, it's likely the streets were deeded to the local government. The only way to get rid of these homes is to set a payment amount per month that parallels rents in the area, then easy-qualify creditworthy people who can't possibly come up with a down payment, a lottery of sorts.

[fergiebear]

I wish I was rich then I would bus in homeless families!!!

[4X4Hart]

So, we are in the midst of a housing crisis. What does a 2,500 square ft house around Eugene sell for these days. I'm in So Cal and watched the value of mine fall from $325,000 to $125,000. Just as many empties in my town also.

[breckandy]

guy sounds like he's enjoying this in a sadistic way

[UncoverTruth]

This is hard to see- I lived just a few blocks from this Mountaingate subdivision - and back in 2007 of all the homes built- they were almost all occupied! Now located in central Oregon - where unfortunately - things aren't any better

[skyding8962]

Wow looks like a ghost town.

[TheWestAspen]

There are a couple of items to note on this:

1.) Private developers bear the cost of streets, lights, curbs, sidewalks, sewer, power, natural gas as required by the local municipality. Rarely does the municipality bear that cost.

2.) High end developments, such as the project highlighted, take many years to "build out", especially in a community as small as Eugene.

There is weakness at the top of the real estate market, nobody is exempt from this one.

[kja5]

Whoever decided to build all of this sh*t should be thrown in jail.