Recent posts

#1

Traffic Control / Re: 1-2-3 Route number Additio...

Last post by hotdogPi - Today at 10:17:36 AM

1476 = NB 740 + NB 735 + NB 1 by Jim.  August 9, 2014.

#2

Weather / Re: What's your weather curren...

Last post by gonealookin - Today at 10:11:53 AM

A bit of bonus winter in May, in the forest adjacent to my neighborhood.  It's 24°F at sunrise with a forecast high of 39°F, so in spite of the high sun angle much of that should hang around for a couple days.



Across the lake, Palisades Tahoe, the former "Squaw Valley" ski area, looks like they got a nice dumping.  They are hoping to stay open on some limited basis through Memorial Day so this will help.

https://twitter.com/TahoeWeather/status/1787105045328367828

#3

Mid-Atlantic / Re: West Virginia Turnpike

Last post by seicer - Today at 10:09:31 AM

I would argue that many interstates in the Northeast that still remain four lanes should be six lanes based on traffic volumes, level of service, and terrain. The difference is that West Virginia is finally fulfilling its widening aspirations through the Roads to Prosperity bond program. There are a lot of things I can fault Governor Justice over, but taking the gamble on a $2.8 billion program for deferred roadway widening, bridge replacements, and new construction has been a popular move.

I am struggling to find an example of another state that has done that in recent memory.

#4

Off-Topic / Re: Mortgage Payments should b...

Last post by SEWIGuy - Today at 09:57:20 AM

So, how do you view mortgage in general? Right now, it's a loan with certain financial terms - interest rate, payoff period etc. Real estate component is just backing the loan for bank's "peace of mind". Risks of property ownership are still on a borrower, abet insurance is required.
You propose to tie in real estate much deeper into the equation. Can you describe full legal framework? What are the right of the bank in this scheme?

It would turn mortgages into a more equity-like product, the value of them would rise and fall with the value of the underlying asset.

If a borrower defaults, then the bank forecloses, sells the house and makes a profit or loss equal to their share of the equity. 

A mortagage should not be an "equity like product." A house should be. A mortage is just a loan.

Any financial advisor will tell you that you need to have a diverse portfolio. Having hundreds of thousands of dollars tied up in a single asset is not a diverse portfolio.

But you are suggesting that it would be better to create more uncertainty around that asset because you don't know what it will ultimately cost you. You are suggesting that people should commit to paying for an asset for as much as 30 years without any knowledge of the true cost of that asset when you make that commitment.  No financial advisor would think that is a good idea.

And you are also overlooking the fact that part of why you take out a mortgage is because you are paying for a place to live.

This is just a really bad and impractical idea.

I linked to a study showing that this kind of mortgage would *halve* the number of foreclosures.

Right. Because it would reduce the number of people who would apply or would qualify for a mortgage.

Furthermore I think reducing foreclosures, which aren't much of a problem, shouldn't be the ultimate goal of our mortgage policy.

#5

Northeast / Re: What is it with I-95 & bri...

Last post by MikeCL - Today at 09:55:05 AM

Looks like it should be open by 10AM the live feed has been cut

#6

General Highway Talk / Re: Freeways / Expressways giv...

Last post by Flint1979 - Today at 09:46:23 AM

In Macomb County, I-696 is sometimes referred to by the road it was built over, 11 Mile Rd.

I-696 is known as the Ruether Freeway. 11 Mile is the service drive.

#7

Off-Topic / Re: Mortgage Payments should b...

Last post by JayhawkCO - Today at 09:41:56 AM

And reduce by 75% the amount of people willing to build a house since they wouldn't have any idea how much it would cost in five years.

#8

Mid-South / Re: Laredo: bids opened for SH...

Last post by TheBox - Today at 09:35:10 AM

I think you meant Highway 83/US-83 (aka future Interstate 2)

#9

Off-Topic / Re: Mortgage Payments should b...

Last post by kernals12 - Today at 09:33:11 AM

So, how do you view mortgage in general? Right now, it's a loan with certain financial terms - interest rate, payoff period etc. Real estate component is just backing the loan for bank's "peace of mind". Risks of property ownership are still on a borrower, abet insurance is required.
You propose to tie in real estate much deeper into the equation. Can you describe full legal framework? What are the right of the bank in this scheme?

It would turn mortgages into a more equity-like product, the value of them would rise and fall with the value of the underlying asset.

If a borrower defaults, then the bank forecloses, sells the house and makes a profit or loss equal to their share of the equity. 

A mortagage should not be an "equity like product." A house should be. A mortage is just a loan.

Any financial advisor will tell you that you need to have a diverse portfolio. Having hundreds of thousands of dollars tied up in a single asset is not a diverse portfolio.

But you are suggesting that it would be better to create more uncertainty around that asset because you don't know what it will ultimately cost you. You are suggesting that people should commit to paying for an asset for as much as 30 years without any knowledge of the true cost of that asset when you make that commitment.  No financial advisor would think that is a good idea.

And you are also overlooking the fact that part of why you take out a mortgage is because you are paying for a place to live.

This is just a really bad and impractical idea.

I linked to a study showing that this kind of mortgage would *halve* the number of foreclosures.

#10

Mid-Atlantic / Re: West Virginia Turnpike

Last post by Rothman - Today at 09:29:38 AM

You might want to check your facts.  While the cities of Charleston and Huntington are in decline...

Facts?

Pittsburgh metro: 2.35 million
Cleveland metro: 2.06 million
Columbus metro: 2.16 million
West Virginia: 1.77 million

There is no justification for Huntington-Charleston to be connected by a 6-lane interstate highway. It's a misallocation of resources that probably should have been invested in the eastern panhandle.

The Charleston-Huntington CSA (Combined Statistical Area) has a population of over 600k, and most of that population is within 15 miles of I-64. That alone is enough to justify the 6-lanes throughout the stretch between the two cities. Add thru traffic and that further justifies it.

I've driven that stretch plenty of times myself, and I'd say it's time.

Those metro areas you listed has multiple multi-lane expressways serving them, while that particular part of WV (especially the western side) don't.

Again, comparing to similar areas in MA, no.

Do those similar areas in MA have a similar percentage of long distance trucks slowing things down? On very hilly terrain?

You might want to check your facts.  While the cities of Charleston and Huntington are in decline...

Facts?

Pittsburgh metro: 2.35 million
Cleveland metro: 2.06 million
Columbus metro: 2.16 million
West Virginia: 1.77 million

There is no justification for Huntington-Charleston to be connected by a 6-lane interstate highway. It's a misallocation of resources that probably should have been invested in the eastern panhandle.

The Charleston-Huntington CSA (Combined Statistical Area) has a population of over 600k, and most of that population is within 15 miles of I-64. That alone is enough to justify the 6-lanes throughout the stretch between the two cities. Add thru traffic and that further justifies it.

I've driven that stretch plenty of times myself, and I'd say it's time.

Those metro areas you listed has multiple multi-lane expressways serving them, while that particular part of WV (especially the western side) don't.

Again, comparing to similar areas in MA, no.

Do those similar areas in MA have a similar percentage of long distance trucks slowing things down? On very hilly terrain?

Sure.  The section through the Holyoke Range is a little frustrating, just like I-64 is a little frustrating.