As the Housing Market Collapes, Neighborhoods Become “Ghost Towns”
As Michael Panzer points out at Financial Armageddon today, Jim Kunstler writes about a distopia where the suburbs are abandoned and become the new slums. Peak Oil and the housing bust feed on the final, inevitable collapse of the great American suburban experiment.
Interesting piece by Alex Roth of the Wall Street Journal about how half-built suburban developments strand early buyers in “post-calamity” like communities.
It’s a serious situation that will be worse before it gets better.
Posted in Economy, Housing BubbleTags: Depression, Economy, housing, Housing Bubble, Peak Oil, Recession