Caps Hit Puerto Rico > CAP is a bit low....

reply to KrK

Re: CAP is a bit low....

Last time I traveled to Bayamon, I noticed new house constructions by El Ocho and Bayamon Sur going for about $500k.

I'd call that disgusting considering that my parents sold their house in Bella Vista Gardens for a mere $90,000 just 14 years ago, where they now average about $240,000.

So with that kind of money going around there, I'd expect not only improved, faster web access, but a power and water utility that never goes out.

Wait... We're talking about AAA here.. You guys in Bayamon are lucky that mud doesn't make it past your faucet.

Never mind.

Where in Bayamon you live?

What I found even more incredible is that these new crappy constructions (have you seen some of these new developments?, they are horribly small houses!!)with outrageous prices are selling out before they are done with construction. Where is all the money coming from? Last time I checked, jobs in PR pay way below what you could get in the US mainland.
--
"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe." - Albert Einstein
Jose A. Hernandez * System Admin * MPLS, Minnesota, USA *

I saw some construction in Bayamon South right in the borderline right after El Ocho, I think right by Barrio Abajo. Those were starting at 500k.

Where all the dough was coming from? I'll tell you where.

If there's one thing I know about my own people is that we love to spend money we don't have, and since Puertorican banks go by the same FICO scores and lending guidelines as US banks, you can imagine the mess it all turned into.

I'll wager there's as much foreclosure going on in the island right now as there is in the states.