I live in Lincoln, CA currently, which is about 10 minutes from this house. My uncle lives right across the street from Kevin's house. Kevin was always really cool to everyone in the neighborhood. We would always take our kids to his house on Halloween. He was never there but his girlfriend would always hook the kids up with big, full sized candy bars. They were great!
We just moved to Sacramento and are about to buy a house. The housing market here over the last five years has been nuts. My brother-in-law bought his house for 490,000 in '05. It's now appraised at 270,000. The timings good for us, but I feel for all the people here who bought at the height of the bubble.
Sounds like a business decision. The housing bubble in California is ridiculous. He probably owes 3X what the house is worth.
Banks paid back their bail out. this makes me like Martin less. Although I was already wishing he was traded.
i guess now you found your house. i have no doubt km would love you to buy his house at $1.9 mil. :grin:
Wow....just think of how pissed he;s gonna be when he defaults on his Houston house when we ship him to Denver...
Housing market sucks. I understand when people walk away when the bulk of their wealth is locked up in an underwater mortgage and they've already lost all their equity. But if you've got the means to pay off the mortgage, e.g. if your annual salary is 5x the full value of the mortgage, just pay it off. I know it's not the rational thing to do, but it's the right thing. It makes it harder for people who really have lost their nest egg in the housing crisis.
It is just business, and if it were not an NBA star player it would not be news. I don't have any problem with someone doing what is right for their own finances, that is exactly what the bank would do. DD
