Urban Digs' Message to Vulture Buyers: Be Careful What You Wish For!

Noah,

I find your compalaint about Manhattan being turned into the suburbs very interesting. Becasue as someone who lived in northern New Jersey for the last 10 years, the people there have the exact same complaint, but only in reverse! They are complaining that their suburbs are being turned into NYC's 6th borough or an extension of Manhattan. Everywhere you go single family houses are eing replaced with multi family ones or even 10 + floor apartment buildings. So people who do not like change have no where to go...

"Alpine, in 198 posts you have still not shown any instance of a real estate decline leading to an increase in crime."

Please Google "Phoenix + kidnapping capital" Back when prices were skyrocketing in Phoenix, I do not recall that city being the kidnapping capital of the country.

Alpine what is your interest here? Ultimately what was your point in twisting Noah's post into "Bears suck because -70% means more crime"? Seriously.

See the problem here Alpine is the way you draw conclusions demonstrates you are just not that bright. And people write these long thoughtful responses to your stupid premise.

I haven't twisted anything Noah wrote.

How can you say that when he basically says you did in the post above. Only a fool could say he didn't twist someones words after the author says he in fact did.

"I NEVER said that a 70% price drop causes higher crime rates. Others interpreted that on their own"

Hmmm. It says SPECIFICALLY that Mexico's ongoing drug war is THE cause of this Phoenix crime spike. Since Texas cities did not have the same boom and bust, what are we to say about the similar increase in Mexican drug-related crime in Mexico? Clearly this is something unrelated to real estate declines.

Again, you ignore the 5 other examples, including NYC in the past.

""We're in the eye of the storm," Phoenix Police Chief Andy Anderson told ABC News of the violent crimes and ruthless tactics spurred by Mexico's drug cartels that have expanded business across the border. "If it doesn't stop here, if we're not able to fix it here and get it turned around, it will go across the nation," he said....

...In fact, kidnappings and other crimes connected to the Mexican drug cartels are quickly spreading across the border, from Texas to California. The majority of the victims are either illegal aliens or connected to the drug trade. "

http://abcnews.go.com/Blotter/story?id=6848672

You are such a frickin idiot.

Texas has no similar price increase/decline like PHX.

Noah, I know what you said, why do you keep repeating yourself? Its alpine we are worried about. What I DID say is that its possible to have a 70% decline and NOT have any of the problems you mentioned, because the decline COULD, not will, but COULD just be asset bubble deflation.

sorry, thought you were responding to my statement. my bad. got lots of emails about this, and most were mis-interpreting what I meant..just wanted to clarify.

it COULD, sure, but that would be a massive overshoot from just a credit/housing bubble. For a city like this and an asset like your home (as opposed to tech stocks or oil that could bust huge in a short period), I think you will need more forces to contribute to get that bad