April 09, 2008
Posted by James Hamilton at April 9, 2008 06:26 AMdigg this | reddit
I try not to litter quality blogs like this with anecdotal comments, but when your source is the USA Today, it really gets me in the mood.
I live in the center of downtown Denver in a nice loft. My neighbors, of the ones I've spoken to, uniformly are students living on loans or commercial mortgage brokers. The apartment next to mine has an eviction notice for past-due rent on it.
There are empty shops up and down the main downtown mall, and it's a little worse out in the suburbs. The US-36 corridor to Boulder and Boulder itself outside of the ultra-gentrified core is a disaster zone. For sale signs on virtually every plot, abandoned buildings, abandoned construction sites, and massive vacancies in buildings.
Our local papers have begun running home ads with lovely yellow, blue, or pink ribbons embossed on top of the home's photo touting discounts between 15 and 35%.
When I carried home a bag of 25 lb rice, 3 separate people stopped me to ask me how much I paid for it, and once hearing it was a good price, where I bought it. The register at the asian market proudly announced it was eligible for food stamps.
If these continued efforts to save our financial system continue to impact the real economy this way, the loopback into the toxicity of the debt being rescued is gonna be a bitch, and we're going to have a bunch of hungry people sitting at home.
Posted by: ndk at April 9, 2008 11:27 PM
Funny... I live in the same Denver that NDK does and I haven't seen anything like what he's described. Maybe NDK lives in bizzaro Denver?
Posted by: Allen at April 10, 2008 11:17 AM
maybe you should look around a bit more, get outta your box, Allen
it should be pretty obvious.
hotpads.com Denver Foreclosure Map:
it does the rest of the country too looks like some places are REALLY hurtin.
Posted by: cliff at April 15, 2008 04:04 PM