Mortgage modifications fail to stop defaults

[Anonymous]

EconProf and all.

Longtime lurker, new member. I’ve found the Pigginton topics and regulars to be the best semi-secret source of real time, local RE and economic information – thank you. I am an early 40’s, native San Diegan, married with 2 kids, living in Carlsbad.

I wanted to add a recent, local anecdote from a Memorial day community BBQ. I saw the dad of a boy on my son’s T-ball team. I said, hi, and exchanged small talk. A few minutes later, I saw the Grandpa of my son’s t-ball teammate. I said hi, and mentioned how fortunate he is to live close enough to his grand children to attend events together. Grandpa replied, “Well, we live very close to my son, wife, and grandkids.” He went on to say that his son had sold their home in CBad, moved in with the Grandparents, and “were waiting out the economy.” Granted, this area has 3,000 sqft homes, but three generations under foot can be problematic in cultures where this isn’t the norm. I don’t know if the family was savvy enough to “sell at the top” and move in, or was forced to move in do to financial reasons. I do know that the couple is very educated, yet “showy” so draw your own conclusions. IMO, we will probably see more financially-induced generational living (FIGL) in SD.

QC

[afx114]

The 1920’s had their McMansions too — check out east village and uptown (Banker’s Hill, Golden Hill, Normal Heights, North Park, South Park, etc) and you’ll find quite a lot of big “masions” that over the years have been chopped up into duplexes or 4plexes. I’m guessing that the McMansions of the past 20 years will suffer the same fate.

[afx114]

The 1920’s had their McMansions too — check out east village and uptown (Banker’s Hill, Golden Hill, Normal Heights, North Park, South Park, etc) and you’ll find quite a lot of big “masions” that over the years have been chopped up into duplexes or 4plexes. I’m guessing that the McMansions of the past 20 years will suffer the same fate.

[afx114]

The 1920’s had their McMansions too — check out east village and uptown (Banker’s Hill, Golden Hill, Normal Heights, North Park, South Park, etc) and you’ll find quite a lot of big “masions” that over the years have been chopped up into duplexes or 4plexes. I’m guessing that the McMansions of the past 20 years will suffer the same fate.

[afx114]

The 1920’s had their McMansions too — check out east village and uptown (Banker’s Hill, Golden Hill, Normal Heights, North Park, South Park, etc) and you’ll find quite a lot of big “masions” that over the years have been chopped up into duplexes or 4plexes. I’m guessing that the McMansions of the past 20 years will suffer the same fate.

[afx114]

The 1920’s had their McMansions too — check out east village and uptown (Banker’s Hill, Golden Hill, Normal Heights, North Park, South Park, etc) and you’ll find quite a lot of big “masions” that over the years have been chopped up into duplexes or 4plexes. I’m guessing that the McMansions of the past 20 years will suffer the same fate.

[UCGal]

And in the 1930’s a lot of people with large houses rented out rooms in them for income.

I just spent the weekend reading my grandmother’s diary from 1931-1933. It has her moving from a boarding house room, to a 3 room flat that was the top floor of a house (the owners lived downstairs). Jobs were tight, my grandfather was on the road for work much of the time…

It had a deja vu feeling to it. Mind you, my grandparents were both college educated and came from upper middle class to wealthy backgrounds.

If you don’t have enough income – you rent out rooms. If you don’t have enough income, you downsize your living accomodations.

I did a google map/street view of the places she rented – most are back to single family residences. But during the depression – they were boarding houses.

[UCGal]

And in the 1930’s a lot of people with large houses rented out rooms in them for income.

I just spent the weekend reading my grandmother’s diary from 1931-1933. It has her moving from a boarding house room, to a 3 room flat that was the top floor of a house (the owners lived downstairs). Jobs were tight, my grandfather was on the road for work much of the time…

It had a deja vu feeling to it. Mind you, my grandparents were both college educated and came from upper middle class to wealthy backgrounds.

If you don’t have enough income – you rent out rooms. If you don’t have enough income, you downsize your living accomodations.

I did a google map/street view of the places she rented – most are back to single family residences. But during the depression – they were boarding houses.

[UCGal]

And in the 1930’s a lot of people with large houses rented out rooms in them for income.

I just spent the weekend reading my grandmother’s diary from 1931-1933. It has her moving from a boarding house room, to a 3 room flat that was the top floor of a house (the owners lived downstairs). Jobs were tight, my grandfather was on the road for work much of the time…

It had a deja vu feeling to it. Mind you, my grandparents were both college educated and came from upper middle class to wealthy backgrounds.

If you don’t have enough income – you rent out rooms. If you don’t have enough income, you downsize your living accomodations.

I did a google map/street view of the places she rented – most are back to single family residences. But during the depression – they were boarding houses.

[UCGal]

And in the 1930’s a lot of people with large houses rented out rooms in them for income.

I just spent the weekend reading my grandmother’s diary from 1931-1933. It has her moving from a boarding house room, to a 3 room flat that was the top floor of a house (the owners lived downstairs). Jobs were tight, my grandfather was on the road for work much of the time…

It had a deja vu feeling to it. Mind you, my grandparents were both college educated and came from upper middle class to wealthy backgrounds.

If you don’t have enough income – you rent out rooms. If you don’t have enough income, you downsize your living accomodations.

I did a google map/street view of the places she rented – most are back to single family residences. But during the depression – they were boarding houses.

[UCGal]

And in the 1930’s a lot of people with large houses rented out rooms in them for income.

I just spent the weekend reading my grandmother’s diary from 1931-1933. It has her moving from a boarding house room, to a 3 room flat that was the top floor of a house (the owners lived downstairs). Jobs were tight, my grandfather was on the road for work much of the time…

It had a deja vu feeling to it. Mind you, my grandparents were both college educated and came from upper middle class to wealthy backgrounds.

If you don’t have enough income – you rent out rooms. If you don’t have enough income, you downsize your living accomodations.

I did a google map/street view of the places she rented – most are back to single family residences. But during the depression – they were boarding houses.

[paramount]

(3) generations under one roof may be problematic and less than ideal, but it beats the streets.

I am thankful that previous generations were more frugal – many I’m sure lived through the depression. Otherwise, a lot more families would not have any roof over their heads.

[paramount]

(3) generations under one roof may be problematic and less than ideal, but it beats the streets.

I am thankful that previous generations were more frugal – many I’m sure lived through the depression. Otherwise, a lot more families would not have any roof over their heads.

[paramount]

(3) generations under one roof may be problematic and less than ideal, but it beats the streets.

I am thankful that previous generations were more frugal – many I’m sure lived through the depression. Otherwise, a lot more families would not have any roof over their heads.

[paramount]

(3) generations under one roof may be problematic and less than ideal, but it beats the streets.

I am thankful that previous generations were more frugal – many I’m sure lived through the depression. Otherwise, a lot more families would not have any roof over their heads.

[Author]

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