Recent posts

#1

Great Lakes and Ohio Valley / New US 51 - Cairo Bridge

Last post by edwaleni - Today at 03:24:13 PM

Reportedly this new bridge is still in design phase. The preferred ROW was announced several years ago and there hasn't been a community meeting or email update since 2020.

https://us51bridge.com/project-overview

The KYDOT plan only carries money for this bridge until 2028 (as does IDOT), and per its inspection report, the current bridge is not supposed to go past 2029 in use......so I was curious of anyone knows what the hang up might be?

The only thing I can come up with is the staffing issues at IDOT that are delaying several projects in the hopper. The I-69 bridge at Evansville with INDOT seems to be moving at a faster clip.

#2

Off-Topic / Re: Black Friday could be your...

Last post by ZLoth - Today at 03:13:02 PM

From TechSpot: SSD Pricing Update, Q2 2024: A Rising Trend for Storage

#3

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

Last post by ZLoth - Today at 03:09:51 PM

For most people, a mortgage is, by far, the longest duration loan they will ever take out. In 30 years a lot changes; the general price level rises thanks to inflation, your earnings increase the longer you're in the workforce, and an expanding economy increases land values, but the payment amounts remain the same.

That assumes that everyone takes out a 30 year mortgage. Nope, I have a 15 year mortgage that will be paid off in ten. And yes, there are ten and twenty year fixed mortgages, not to mention adjustable rate mortgages.

Also, the "payments remain the same" only works if you have a fixed interest rate and no escrow account for property taxes and homeowners insurance. So, yup, at the cost of interest, I have escrow account to ensure that property insurance and taxes are paid, thus I get a yearly statement around March with the adjusted escrow payment.

It also means that borrowers bear all of the risk of decreases in property values. 15 years ago, when very large numbers of people were foreclosed on, they remained in debt even after the house had been sold, as the value of the home was less than the face value of the loan.

Fifteen years ago makes it 2009. In that surreal estate period before that, there were too many NINA (No Income No Asset) mortgages as well as interest-only mortgages where the borrow only paid the interest for several years in the hopes of refinancing when the home increased in value and the interest rate dropped. Instead, they were underwater. Oh, and the interest rate ranged from 5.5-7% before that housing crash.

It also means that housing shortages, such as the one occurring now, means that borrowers see their net worth go up, making them likely to vote for politicians who pass laws that restrict the supply of housing, creating great welfare losses.

Part of the reason behind the housing shortage is that many people took advantage of the low interest rate a few years and refinanced. Those interest rates have more than doubled, so if they sell and get a new mortgage, their costs would be more. This also means that the "empty nesters" of older folks whose kids have moved out are hanging onto their bigger homes, turning the spare bedrooms into hobby rooms or storage rooms.

All of this can be solved by tying principal and interest amounts to the value of the property. To eliminate the incentive for borrowers to neglect maintenance to lower their mortgage payments and for administrative simplicity, it would be best to use an index of regional home prices to be adjusted annually.

Again, define "value". Ultimately, the price of a home is determined by the purchaser and the seller. Because of the sharp increase in the appraised value of homes in the past five years, the increased in the assessed value of homes had it against limits. For Texas, that rise in appraised value is hitting against the 10% limit if you have a homestead exemption on that primary residence. If you are a renter, then homestead exemption doesn't apply and the full value of the property tax is passed along as a rent increase.

Unfortunately, some homeowners are resisting those property tax increases by letting their homes fall apart by not even performing home maintenance, then complain about gentrification when other homes in their neighborhood get sold as fixer-uppers and those new homeowners perform the necessary yet long-delayed maintenance.

#4

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

Last post by Rothman - Today at 02:39:11 PM

I like cake.

I like eating, too.

What else would one do with cake?

So...you can have your cake and eat it, too...

#5

Pacific Southwest / Re: 580 is unconstructed from ...

Last post by gonealookin - Today at 02:28:30 PM

^^^

Over here on the Nevada side, the State still owns this parcel on the south side of SR 207 just east of US 50.  It's fairly wide, about 436 feet of frontage on SR 207 and clearly shaped to provide for on and off ramps.  The freeway would have continued north across SR 207 through what is now Kahle Community Park, bent a bit west and joined existing 4-lane US 50 a bit to the north of here.



Looking this up last night, on the CAHighways.org US 50 page you can scroll down a ways and see the alignment including the tunnel under Echo Summit, and further down another map showing the California portion of the Meyers to Stateline bypass.

#6

Off-Topic / Re: Minor things that bother y...

Last post by Rothman - Today at 02:27:24 PM

You should be clicking on each property to view the pictures and description anyway. Full costs, fees and charges are part of this search. Just like hotels with resort fees, the charges are often not subject to the percentage commission that AirBnB takes from the nightly rate.  Blame the site for the game; not the players.

I'm with JayhawkCO on this one.  I don't care if Airbnb hosts use inflated cleaning charges to lock in profit, like the airlines do with baggage fees or online sellers do with shipping charges--I just want to be able to see the total cost per night up front.  It should be possible for them to do this when search parameters include length of stay.

Short of it is that they like presenting one price to lure you in before they hit you with the real one.  It's annoying, frustrating and an inconvenience not easily tolerated.

#7

Off-Topic / Re: Minor things that bother y...

Last post by kkt - Today at 02:24:03 PM

When the mail on my block gets delivered one house off.

I hardly ever get that.  Instead I get mail delivered for my house number, but several avenues off.
I love being the final block delivery for USPS.  /s

#8

Bridges / Re: Scariest bridge you've eve...

Last post by epzik8 - Today at 02:23:25 PM

https://youtu.be/v-B3j83ozJk?si=uehEePegZfUfNR-Z
Here are people who won't drive the Chesapeake Bay Bridge in Maryland.

A special ride share drives the bridge for them.

Hatem and Nice bridges as well.

#9

Mountain West / Re: Phoenix Area Highways

Last post by RaulMtz - Today at 02:21:04 PM

I sincerely hope ADOT plans repave the SanTan Freeway in Gilbert soon. The noise is just deafening.

I might be a bit late to respond to this but they have no intention of fixing the pavement on this section until they start the big widening project on Loop 202 between 101 and Val Vista Rd later this year. I remember reading Q4 2024 but I am not 100%. Looks like they are going to be adding two additional general purpose lanes in each direction between 101 and Gilbert Rd and one additional general purpose lane between Gilbert and Val Vista.

#10

Northeast / Re: Pennsylvania

Last post by Mr. Matté - Today at 02:20:43 PM

District 5 is proposing to remove I-78 Exit 15 (the Grimes Interchange).