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Renter Nation

The recession and shifting demographics will swell the ranks of people who will rent, not buy, housing over the next five years. This is according to an interesting blog I found in Yahoo Real Estate: http://finance.yahoo.com/real-estate/article/110173/renter-nation?mod=re.... Read below to see the entire blog:

The American dream of owning a home is still very much alive, but it will be no more than a dream for a growing number of people over the next five years. That's bad news for home builders, who already have big troubles, as June's reports on housing starts, existing-home sales, building permits and unsold-home inventories showed. But it is good news for anyone renting out a home, apartment or condo, or any real-estate investment trust specializing in residential rental properties.

Hitting Magen's Bay for the Perfect Afternoon

Within minutes of chilling on Magens Beach, you will know you have hit the right spot for the perfect afternoon. Over half a mile of the perfect white sand. A bar, including beach service and delivery. Food (and good food, incredible pizza). Watersport rentals. Lounge Chairs. Picnic Tables. Nice trees on the beach for shade. Calm waters. This is what it is all about.

The other cool thing about Magens is that you are sure to see a lot of people you know. Most of the "locals" head down to the left side of the beach. The cruise ship passengers tend to congregate closer to the food and bar. But since the beach is so big, you can always find a peaceful spot, a party spot, or anything in between.

The perfect ending to the day, of course, is a visit to UDDER DELIGHT on your way back home. If you aren't familiar with Udder Delight, it is the milkshake stand just up the hill from the beach. With or without liquor, there are dozens of choices sure to wet your whistle.

A visit to St. Thomas without Magens Bay simply isn't complete.

Being Reminded of Why I Live on St. Thomas

My good college buddy Melvin P Squidman is down here for a visit with his wife. It is of course a great thing to have good friends visit. I want to show my guests a good time, and these two are pretty easy to please.

The other big advantage to having guests is what they can do for you. And the most important result of these visits is that they remind you why you live on St. Thomas. Whether you are able to join them for a scuba dive or not, their stories along resonate in your soul. Heading to Magen's Bay for a swim isn't just about the swim, it is also about seeing the smiles on their faces. These are the things we really enjoy down here, and sometimes it takes a guest to remind us of that.

Thanks Mel P.

And Then Came the Rains

I was reading the St. Thomas Daily News last week and saw that 2010 claims to be the rainiest June ever on record for St. Thomas and St. John. St. Croix had one wetter June in its history. We did have some really heavy rain falls near the end of the month, so I wasn't completely surprised by this fact. But after the last week and the downpours that became the norm, I would think our July is looking to be even wetter than our June.

It rained so hard on Tuesday that the roads were rivers. Waterfalls appeared in locations that hadn't seen runoff in months. Rockslides littered the roads. But most troublesome were the leaks that appeared in various homes across the islands.

4 Big Money Mistakes of First-Time Homebuyers

I saw this blog on YAHOO. Definitely one of those I agree with. A lot of the problems we have with people being underwater on their mortgages is due to people choosing to live beyond their means. It isn't all the bank's fault, it is also the fault of the consumer. Some of the information below is very helpful. Link is here: http://finance.yahoo.com/real-estate/article/109969/4-big-money-mistakes...

First-time homebuyers almost always make a few mistakes when buying their home. Perhaps they pay too much, choose the wrong type of mortgage or neglect to budget for needed home improvements.

Great 2010 Tourist Season in the Virgin Islands

The Virgin Islands Daily News has an article stating that tourist visits in March 2010 were up 38.5% versus 2009. April was also up 5.5%. This is GREAT news for the Virgin Islands and I am not surprised to see this news.

Oil Spill Does Not Affect the Virgin Islands

The oil spill in the Gulf is extremely unfortunate. An economic disaster of huge proportions. I hope for the sake of the environment that this gets fixed quickly, as it has already been going on far too long.

There typically wouldn't be a need for me to even discuss the spill from down here in the Virgin Islands. There is plenty of press about the issue already. But I have noticed recently that a lot of people are wondering whether such a large spill has had or will have any effect on the waters surrounding St. Thomas, St. John, and St. Croix.

Spiny Lobsters Thrive in the Virgin Islands

Once upon a time, there were three lobster hunters: Aquamon, Squidward, and the Invisible Man. They each had issues that prevented them from pursuing their lobster hunting. See, Aquamon was a super hero, and people around the world relied upon him to keep them safe from evil characters. Squidward was hanging out under the sea with a crafty fellow named SpongeBob Squarepants, and unbeknownst to most everyone, Squidward was actually Bob's prisoner and wasn't allowed to do what he wanted (they don't show that on TV). The invisible man, well, nobody really knows what he is doing because we can never find him. But rumor says he likes to travel a lot playing pranks on people he considers his friends. The one thing they had in common, though, was their desire to change- to become lobster hunter extraordinaires.

Mortgage Application Volume Falls

So I read this article today in Yahoo Finance: http://finance.yahoo.com/news/Overall-mortgage-application-apf-334909391...

After reading such an article, I almost feel like I am living in a foreign land. Well, in some ways I am. The point being, Virgin Islands Real Estate is typically a very different beast than the rest of the United States- at least different than the masses that they write about.

Reasons NOT to Walk Away From Your Mortgage

I read an interesting story/blog on Yahoo today. It is about Bank of America taking steps to keep homeowners from walking away from their mortgage. I found this to be a pretty sharp move by a large player like B of A. Here is the link, and the story is below: http://finance.yahoo.com/news/BofA-Mortgage-Walkaways-Have-cnbc-18821835...

So what do you think about this move? Will it save them money in the long run?

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