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A blog about the economy and the Sacramento-area real estate market.

August 23, 2008
Merced: A view from the "ruins of the housing bust"

24house.xlarge1.jpg

New York Times Photo/Jim Wilson

The New York Times paid a visit to Merced and chronicled today the harsh life being endured there in this time of foreclosures and stress.

  I passed through the city this afternoon on the way to a visit in Fresno. On the west side of Freeway 99 I saw all the evidence: unfinished subdivisions and bare dirt waiting for the next boom. It's worse east of the freeway out in Bellevue Ranch and other subdivisions where the hammering has come to almost a total standstill and the lives of quiet desperation go on.

These days, Sacramento always likes to say we have it bad, but it could be worse: We could be Stockton. I imagine in Stockton they say it could be worse: we could be Merced.

Check out the story. You'll see what it's like when there's nowhere else that makes you feel like it could be worse.

Well, maybe Florida......

 




 


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