Hampton Roads Off-Topic Talk

[vdogg]

Virginia is now the busiest forum in the NorthEast section, with 12007 posts compared to New England at 11995

<{POST_SNAPBACK}>

Wow! I didn't expect it to happen that quick. We really closed the gap. New England has been on the site for years too.

[lammius]

Thats cool. We have alot more going on because the rest of them are already built up!

<{POST_SNAPBACK}>

I don't know about New England but other major northeastern cities (NYC, Phila, etc.) still have LOTS more going on than HR. The forums on this site haven't caught on for people in those cities though.

[okinawatyphoon]

I don't know about New England but other major northeastern cities (NYC, Phila, etc.) still have LOTS more going on than HR.  The forums on this site haven't caught on for people in those cities though.

<{POST_SNAPBACK}>

yeah a lot of them are probably on SSP or SSC, or even their own city's forum if they have one.

[urbanvb]

From mortgage servicing news:

One company believes the number of cities facing the housing bubble increased 55% in the first quarter compared to last year. Nine in the top ten are in California.

article scroll all the way down.

[rusthebuss]

I don't forsee ours bursting anytime soon!

[urbanvb]

I doubt we have anything to worry about but Calif could be in big trouble if the bubble does burst!

[rusthebuss]

If the bubble bursts how does it affect the market?

[urbanvb]

If the bubble bursts how does it affect the market?

<{POST_SNAPBACK}>

My small understanding would be as such: If there are inflated property values then the problem comes when the owner wants to sell the property or if the property goes into foreclosure. After the bubble bursts the value of the property could be quite a bit less than the balance due. This could be a significant amount of money depending how large the bubble is.

[rusthebuss]

that would be bad news and I hope that doens't happen around here!

[urbanvb]

that would be bad news and I hope that doens't happen around here!

<{POST_SNAPBACK}>

The only bubble we have to worry about is Oceana. If they left it could cause housing to drop but as to how much it is debatable. Some say the housing market is just a small amount of the real estate due to a lot of other businesses being in the area but in my opinion the military plays a larger role than some may believe.

[Greekboy80]

If the bubble bursts how does it affect the market?

<{POST_SNAPBACK}>

well, to simplify, when the rates increase(which they will, matter of time) and the people bought house way out of their means have those intrest only or ARM loans they cant refinance or afford the house anymore. they have to sell the house for less than they owe and much lower than they bought it for. they end up losing money day by day that they just settle and sell the house as fast as possible. starts a chain reaction with millions of people nationwide, and then the market is wide open for people to buy a cheap house. so it kind of have a reverse effect of the market today.

Lesson: dont mortgage with an intrest only or an Arm loan unless you plan on being in your house for less than 3 years. Get a fixed 30/20 year mortgage.

[urbanvb]

and new filings for bankruptcy will be up on the upswing as well.

Edited August 22, 2005 by guynvb

[rusthebuss]

The only bubble we have to worry about is Oceana. If they left it could cause housing to drop but as to how much it is debatable. Some say the housing market is just a small amount of the real estate due to a lot of other businesses being in the area but in my opinion the military plays a larger role than some may believe.

<{POST_SNAPBACK}>

It might effect us but I don't see it effecting Norfolk, Vabeach yes and Norfolk no! It will leave a hole but I do believe that we can bounce right back. In a way it might increase the housing if its closed. If you look at the estimated impact they very so much it makes me wonder if it will be that bad of impact on Vabeach.

Edited August 22, 2005 by rusthebuss

[urbanvb]

More bad news about wages for us (VA Beach and Chesapeake that is).

Average weekly wages in Virginia Beach and Chesapeake were the lowest in Virginia during the last three months of 2004, according to the Bureau of Labor Statistics.

Workers in Virginia Beach claimed average wages of $643 per week, while wages in Chesapeake were a dollar higher. Both areas ranked in the bottom fifth of 317 of the nation

Edited August 23, 2005 by guynvb

[vdogg]

Average weekly wages in Virginia Beach and Chesapeake were the lowest in Virginia during the last three months of 2004, according to the Bureau of Labor Statistics.

Both areas ranked in the bottom fifth of 317 of the nation

[urbanvb]

Unacceptable  .

<{POST_SNAPBACK}>

Is it just ironic that while cities around us prosper (Richmond, DC and to the south Raleigh, Charlotte) that we are still in last place.

[urbanvb]

It would seem to me too that the further downward we trend the more difficult it would be to climb up, although I have read we have made some strides in attracting better paying jobs. Better paying positions are more apt to locate in areas where there is already a presence of educated people and good paying jobs.

[rusthebuss]

doesn't surprise me! WE NEED MORE WHITE COLLAR JOBS! What are these cities doing to bring these jobs in! They need to get off their buts and get to work or get out of office!

[vdogg]

New England has pulled ahead yet again. They must've had a big announcement this weekend.

[vdogg]

Damnit Rus! I wanted my star first.

[rusthebuss]

Damnit Rus! I wanted my star first. 

<{POST_SNAPBACK}>

I just realized that happened too. You haven't been posting like you use to.

[okinawatyphoon]

Damnit Rus! I wanted my star first. 

<{POST_SNAPBACK}>

Oh, that took me a minute to figure out. LOL. Rus has been posting like there's no tomorrow lately!

[urbanvb]

I always wondered about those stars.. but I am not even halfway there

[rusthebuss]

Oh, that took me a minute to figure out. LOL. Rus has been posting like there's no tomorrow lately! 

<{POST_SNAPBACK}>

I know I'm really excited about my city blowing up and thought that it would never get to this level. I want more I tell you, more. I hoping to hear something about that rumored Florida developer that wants to develop a high rise in DT Norfolk.

[vdogg]

Oh, that took me a minute to figure out. LOL. Rus has been posting like there's no tomorrow lately! 

<{POST_SNAPBACK}>

He jumped from 2 post ahead to 170 post in a week . True, I don't post as much as I used to but thats a good thing. This forum has become pretty much self-sustaining. I started off posting like crazy because I really needed to jumpstart and sustain the forum to justify us having our own space here. Obviously thats not needed any more. I don't feel the need to respond to every thread anymore, just the ones that interest me the most. Oh, and i've also been working on compiling Hampton Roads Projects listing v2.0 . I'm trying to go with a different format this time. It'll probably be a few weeks before it's up.