Yesterday another drive to Danbury. Dave had his stitches removed, can drive, and is cleared for work for the 15th. So a big step in his recovery. As a teacher he stands on his feet for a work day, so he still has to build up some stamina and has physical therapy.
Danbury is a larger city than Peekskill, but it is also like Peekskill in that it is diverse. In Peekskill it is a coin toss if mostly white or mostly Hispanic, but I think Hispanic is the likely majority because of illegals. Danbury I would say is mostly white. In both cities you see mucho two-family houses. The houses in Peekskill though are older.
So a second good day moving forward. “Maggie’s” ill healing cryo burn off is not Cancer we also learned from the biopsy results.
We fixed the grandson’s tractor-bike, which was his birthday present. This too involved healing. Friday morning was a hysterical episode.
Part of the problem is the early strong bonding since we took care of him for the first year and a half of his life to protect him from Covid and other respiratory diseases. What I mistakenly called pre-school is actually nursery school, and he finds getting moved into nursery school rude.
Today between 9 to 1:00 PM will be aInhibitor delivery. I did the math and figured out that a month’s dose costs $2.5K. Ouch… Mucho glad that I get financial aid to cover my out of pocket. My worries is that next year I hope the financial aid continues…
So now gold is making new Intra-day highs, is now over $3.5K, and my junior gold miner is also spiking in tandem. As we loose purchasing power (around 10-11% when compared to a basket of currencies) my situation is somewhat hedged by physical gold and my Junior gold miner.
It was wise to hedge myself with gold to ensure inflation does not erode my wealth. Basically gold and real estate is a good hedge and an insurance policy to protect your portfolio.
Carmel in Putnam County is a bit hill-billy. There is a great deli on Route 52 that is a kinda rough and tumble truck stop for all the blue collar workers. Maggie reports a conversation that started there because one dude wore a Murtle Beach T-shirt. It asked if the guy owned any real estate in South Carolina…
It seemed that the guy without the T-shirt owned an older home in costal South Carolina that was bigger and better value than a new home, but has trouble trying to sell the home because all the developers are undercutting him because the newly built homes are financed by the developers. Sound like a bit of unregulated lending that is private, or an American form of “Shadow-Banking.”
The lowland costal areas of the Carolina’s, basically swamp, went undeveloped for a reason, but now currently is/was the fastest developing area in the country. Three of Maggie’s brothers bought homes there, and two of one brother’s sons moved their families there.
One brother lost a brand new car that was “totaled” because of flooding. Then there is a lack of medical infrastructure like doctors and hospitals. For me relocating there could be a death sentence…
So these home builders are offering their own financing. Pretty much this is no different that what happended in China that led to a real estate bust. But then again there is a tale of two markets, here in The North East land and development are more restricted, and housing prices are still inflating.
The abandoned house on my dead-end had an open house two weeks ago. Currently it is under contract. The repairs like a new roof, new stoop, and a gutting were made/necessary for a CO. Pretty much a flipper a la Home Cheapo, and the asking price was $499K. Not a good deal, but two weeks after an open house it is under contract.
My thinking the price is less than $500K and the price got negotiated downwards. We were sitting out under our pergola eating brunch and saw a family that we would say are the likely buyers. A young couple with perhaps parents, where I projected that the father was likely involved with construction. All the heavy lifting had been performed, but in an el cheapo manner.
The exterior was painted white over white, but they did not power wash the home so the dirt is still visible. This house is likely the ugly duckling on our street of 13 houses, but for a young couple the big draw would be the Henrick Hudson School District which is one of the top 100 in New York State because of Indian Point the nuclear power supply.
This home has some more dead trees that need to be removed, Knotweed, and poison ivy.
One of the reasons why we got the Baby-Victorian so cheap is that this 1951 built house was an eyesore and was so run down. It is kinda crazy how much our home appreciated, and I’m pretty confident that our house is definitely the cutest on the block, and it also was the first built in 1912 as this neighborhood was developed. Maggie believes it was a model home for the developer.
Up in Putnam County it is more rural and hill-billy. There lacks infrastructure like public water, sewers, and serious hospitals. For major medical care the kids have to drive to Danbury, Conn.
Maggie from the kids got out of her head from downsizing, and is reacquainted with pure love of our home. She see’s it as I do as a rare and lucky find. A new awakening for her…
Cal