We are now approaching the peak of the winter season here in Arizona, and I was interested in how full the Palm Creek RV Park was going to become. However, it seems that given the economic situation, a number of folks have not made the trip. Indeed, I was surprised to see quite a few empty sites in our park in February. Here, you can see a couple streets down from us where there are quite a few open sites. You can also see that the sites are very wide and level -- a nice place to stay!
Here is another view of a group of empty sites. Some of these fill up for a few days, but then the folks move on.
Speaking of difficult economic times, you have probably heard the term "Toxic Assets" with respect to certain real estate operations. As we tooled around Casa Grande, we were able to see a number of these toxic assets in person. Here is a good example -- the development of Mission Ranch.
As you can see, all the infrastructure for the development is in -- roads, privacy walls, streets, power, water, etc. It is ready to build homes, but unfortunately, the real estate market crashed and the market is stagnant.
The development even built these models, now enclosed in chain link fencing for protection. It is very sad to see these beautiful homes just sitting empty. We have seen quite a few such developments like this -- must be a huge investment that is now in trouble.
We are now approaching the peak of the winter season here in Arizona, and I was interested in how full the Palm Creek RV Park was going to become. However, it seems that given the economic situation, a number of folks have not made the trip. Indeed, I was surprised to see quite a few empty sites in our park in February. Here, you can see a couple streets down from us where there are quite a few open sites. You can also see that the sites are very wide and level -- a nice place to stay!
Here is another view of a group of empty sites. Some of these fill up for a few days, but then the folks move on.
Speaking of difficult economic times, you have probably heard the term "Toxic Assets" with respect to certain real estate operations. As we tooled around Casa Grande, we were able to see a number of these toxic assets in person. Here is a good example -- the development of Mission Ranch.
As you can see, all the infrastructure for the development is in -- roads, privacy walls, streets, power, water, etc. It is ready to build homes, but unfortunately, the real estate market crashed and the market is stagnant.
The development even built these models, now enclosed in chain link fencing for protection. It is very sad to see these beautiful homes just sitting empty. We have seen quite a few such developments like this -- must be a huge investment that is now in trouble.
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