Evidence of the housing market meltdown has been hard to find in Winston-Salem, which experienced less of a bubble than other cities. Sure, construction activity is obviously less this summer than last summer and houses for sale are on the market for significantly longer, but so far we've encountered nothing that matches the national news stories of whole neighborhoods in distress. Last night's walk, however, suggested that "mistakes were made" at the height of the real estate boom. We found a neighborhood off Country Club Road of houses built 5 years ago notable for their ugliness and for the number for sale at "reduced" prices. It's easy to imagine being "underwater" on a mortgage for one of these houses. It's also easy for Susan to imagine just walking away from one of these...
Jon and Susan are professors at Wake Forest University in Winston-Salem. Jon is in the Department of Theatre and Dance. He has lived in Winston-Salem for 25+ years. Susan is in Biology, and has lived in Winston-Salem for 5+ years. Jon's neighborhood is Sherwood Forest; Susan's neighborhood is Ashley Forest. Maurice, who lives in the District of Columbia, serves as occasional capital correspondent.
"The reality is the reality."--Pedro Martinez
"It's only gonna get funner."--Roy "Doc" Halladay
"I believe in a relatively equal society, supported by institutions that limit extremes of wealth and poverty. I believe in democracy, civil liberties, and the rule of law. That makes me a liberal, and I’m proud of it."--Paul Krugman
"Nobody is going to come out of this looking good."--Maggie Christman
Evidence of the housing market meltdown has been hard to find in Winston-Salem, which experienced less of a bubble than other cities. Sure, construction activity is obviously less this summer than last summer and houses for sale are on the market for significantly longer, but so far we've encountered nothing that matches the national news stories of whole neighborhoods in distress. Last night's walk, however, suggested that "mistakes were made" at the height of the real estate boom. We found a neighborhood off Country Club Road of houses built 5 years ago notable for their ugliness and for the number for sale at "reduced" prices. It's easy to imagine being "underwater" on a mortgage for one of these houses. It's also easy for Susan to imagine just walking away from one of these...
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