The untold story of the current real estate crisis …Shoddy construction.
"the current real estate crisis"
Thanks to Richard Weisser in Georgia for allowing his post about shoddy construction to be Re-Blogged...
Decisions, decisions, decisions.... where to post this? Worthington Old and News? about Worthington real estate? Or Discover Columbus Ohio about Columbus Ohio real estate? I'm going with Worthington Old and News... a community that has cherished and cared for the old homes over the years... yes there have been some foreclosures in Worthington, even Old Worthington in the past few years. Not as many as in other parts of Central Ohio.
Historic homes
Not pointing any fingers at local builders or other communities including the city of Columbus ... there are some glorious old neighborhoods in the City of Columbus, Victorian Village, Old Towne East, German Village, Italian Village. In German Village, the brewery workers cottages remain today. The shoddy construction of the Flytown neighborhood where other immigrants lived in the 1800s was replaced by 670 and the Arena District, I believe. I have heard Flytown in Columbus got it's name because the houses there "flew up." There was shoddy construction before. It's gone.
the current real estate crisis
The story of Worthington's growth or lack there of is a story of one real estate crisis after another. The Worthington Historical Society has wonderful information about how the Village of Worthington was preserved by time.
Over the last few years, I have visited countless foreclosed homes. The majority of these homes were built in the last three decades.
And based on my personal experience, many of these houses suffer from incurable obsolescence. They simply need too much work to make them an affordable option for a purchaser.
In many cases, the scenario of the courthouse steps sale is not due to the loss of a job or the inability to pay. The homeowner simply needs to sell but the house is falling apart and nobody wants to buy it. The house has essentially outlived its useful life.
I live in a town where many historic homes are over a hundred years old. Some were even constructed before the Civil War. These houses were built to last for generations in an area conducive to every destructive element from termites to tornadoes.
On the other hand, the modern tract house was designed to be quick to construct, affordable, and temporary. They will NOT stand the test of time.
It’s the untold story of the collateral damage of the housing boom. And the solution may involve demolition.
And the implementation of a wave of new construction standards.
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