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Old 07-09-10 | 04:08 PM
  #20  
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wrk101
Thrifty Bill
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Joined: Jan 2008
Posts: 23,639
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From: Mans of NC & SW UT Desert

Bikes: 86 Katakura Silk, 87 Prologue X2, 88 Cimarron LE, 1975 Sekai 4000 Professional, 73 Paramount, plus more

To me, the problem is location. If you are going to sell a bike to a local market, then the local economy is going to impact how well you can do on the bike. A couple of years ago, Stockton, CA lead the country in foreclosures. Hopefully it is doing better now.

From a 2010 news article:

"STOCKTON, Calif. — Stockton hardly looks like the most miserable city in the country. But the statistics and stories over the last two years make a case that it is: Since the housing crisis began, this inland port city 80 miles east of San Francisco has had one of the worst foreclosure rates in the country – for most of the time, the worst. At the height of it, about 1 in 10 houses fell to foreclosure. Houses that sold for more than $500,000 before the crash now go for $200,000. In some neighborhoods, fixer-uppers cost less than a new Honda Fit – under $20,000.


"Welcome to Foreclosureville, U.S.A."


City officials say they fully expect Stockton to shake the title in 2010 (it's recently dropped to No. 4 or 5). But how far away from the top can it go? The population of 290,400 is strapped. Up to two-thirds of homeowners owe more on their properties than the houses are now worth. Housing values have dropped more than 60 percent since the height of the boom four years ago, more than any other city."
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