Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
(CBS) The promise of the suburban dream is what brought Nichole Cinaglia and her daughters to a neighborhood more than 30 miles outside of Sacramento, California.
"I mean I think it's everybody's dream to own a home and then have their kids grow up in their home, you know, like they used to so many years ago," Nichole says.
Sixty years ago, cheap gas and new highways helped fuel suburbia's rapid rise, creating a new American utopia. But as CBS News correspondent Ben Tracy reports, the triple threat of falling home values, empty nesters returning to the city and sky-high gas prices is driving suburbia to the brink.
Some developments are left half built while other homes look abandoned. Demand for suburban housing is dropping so fast that a recent study predicts that by 2025 there will be a surplus of 22 million large-lot homes in suburban areas.
Nichole can't afford the $800 in gas she burned each month commuting to her job, so she's selling her house for less than half what she paid for it.
Posted: Mon Aug 11, 2008 5:22 pm Post subject: Re: The Decline Of Suburbia - Kunstler on CBS (again)
Quote:
Nichole can't afford the $800 in gas she burned each month commuting to her job, so she's selling her house for less than half what she paid for it.
That's substantially more than many of our suburban customers monthly cost of heating oil, electric, propane, cable/high speed internet/digital phone and *work related fuel* for 2 or 3 vehicles combined.
At current fuel prices, my sisters would have to commute over 9,500 miles per month to work in their Toyota Prius Hybrids to consume over $800 in gas.
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