I predict a second housing crisis, in 10-15 years...

page: 1
0

log in

join

posted on Aug, 20 2008 @ 03:43 PM
link   
In my area there were, several years ago, waves of housing subdevisions going up. These were the typical "McMansions."

The thing I noticed most often, besides how butt-ugly they were, was how incredibly cheaply they were built.

As I watched the construction, I noticed that many of them were built with chipboard. They were poorly constructed all around, and built incredibly fast.

Now when I observe these subdivisions, some of them are already starting to deteriorate. This isn't simple because many of them are now empty, it is because they are built so abysmally.

I predict that in 10-15 years, there is going to be a second round of housing crisis, as the residents of these "McMansions" (those who kept them through this crisis, and moved in after forclosures) find that their houses are simply deteriorating. SOme will find that their houses are structurally unsound, others will not be able to afford the upkeep and the mortgage. This will create another housing crisis as people are forced to move out of unsound homes, but are not refunded for their mortgage.






 
0

log in

join