XPost: talk.politics.misc, alt.fan.rush-limbaugh, alt.politics.usa
https://www.dailymail.co.uk/real-estate/article-14359255/warning-florida-condo-crisis-trigger-wave-homeless-people.html
. . .
Not just Florida, they slapped up those things from SC
all around and kinda over into TX. Apparently got your
'inspections' with a little stuffed brown envelope ...
NOW they're falling apart - one extra-spectacular
case a couple years ago I think we all remember.
Inspections show a LOT of them are structurally
suspect. SOME can be fixed - at a HUGE price -
others will have to be demolished.
The common theme is 'beachfront'. They piled up
some sand, stuck a large lowest-bidder building
on top, and then let the SALT MIST blow in from
the ocean for a few decades. Pretty much all the
steel bars are TRASHED at this point. How the hell
do you hold up a 25-floor building while you
try and replace the foundation, basement and
1st floor ??????
So, bottom line, there's gonna be a kind of large
new class of homeless. SOME are rich but a lot
bought the things for retirement long back when
the prices were good and now don't have the
money to chip in for the major repairs.
The value of real estate affected here is just
spectacular.
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