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Joined: Dec 2002
Posts: 1,252
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djk Offline OP
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I just thought I would post this link to a BBC News report on Ireland's "Ghost Estates" - housing developments that nobody wants.

Property developers built in completely stupid places, and nobody wants to buy them.

It would give you an idea of why electrical contractors here are not likely to find much work anymore.

http://www.youtube.com/watch?v=wHzn7MhBLrY

Seems a shame, but it looks like there's going to be a major boom in the demolition business.


Joined: Oct 2006
Posts: 745
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Wow, that is scary. Here in the states, it is very uncommon for large-scale developers to build much of anything without a signed buyer. Sure, they'll build a few models and a few stock homes to "fluff-up" the appearance of the community, but to see an entire development put up with no signed buyers is financial suicide. This is obviously demonstrated in this article. The very thought of those beautiful communities being demolished is disturbing to say the least.


---Ed---

"But the guy at Home Depot said it would work."
Joined: Mar 2007
Posts: 101
M
Member
Well it is kind like this now in New England . There are sub divisions with 100 houses and maybe 5 occupied. Or renovated mills into 50 or 75 "condos" and 2 or 3 occupied. Even in downtown Providence.

Joined: Jun 2004
Posts: 1,273
T
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djk...

That's nothing...

Red China has ghost major cities....

Built to hold 500,000 people -- yet 99.5% empty.

It takes a Western sized income to afford the condos!

That's merely 200 times more than the median wage.

This is why Red China is almost certainly insolvent.

The hyper-boom went global.


Tesla

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