The housing crash will play out in ways that will surprise and shock even us. McMansion ghettos. Bullets flying. Scum living in gated communities. Unkempt lawns and foreclosed houses everywhere. And NOTHING like the wine and cheese brochures the realtors showed you.
Coming to an overbuilt unwanted suburb near you. And all powered by no-down, no-doc, no-responsibility toxic loans.
Thanks Bill @ maryland for the link
The Next Slum?
The subprime crisis is just the tip of the iceberg. Fundamental changes in American life may turn today’s McMansions into tomorrow’s tenements.
Strange days are upon the residents of many a suburban cul-de-sac. Once-tidy yards have become overgrown, as the houses they front have gone vacant. Signs of physical and social disorder are spreading.
In December, after a stray bullet blasted through her son’s bedroom and into her own, Laurie Talbot, who’d moved to Windy Ridge from New York in 2005, told The Charlotte Observer, “I thought I’d bought a home in Pleasantville. I never imagined in my wildest dreams that stuff like this would happen.”