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Subject: Zombie Subdivisions --
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Author Messages
MicheleD
(Kentucky)

Posts:4491


09/30/2009 8:43 AM  


This attempt at posting this video may not work. There is a story on CNN about zombie subdivisions in the Atlanta area. I think they floated the number of something like $3.3 BILLION in foreclosures. . . stunning.

Anyway, below is a link and hopefully the video?

http://www.cnn.com/video/#/video/business/2009/09/29/mcedwards.us.real.estate.cnn

<script src="http://i.cdn.turner.com/cnn/.element/js/2.0/video/evp/module.js?loc=dom&vid=/video/business/2009/09/29/mcedwards.us.real.estate.cnn" type="text/javascript"></script>
DonnaS
(Tennessee)

Posts:5671


09/30/2009 9:01 AM  

Thanks for posting that Michelle,

Now I can tell my entire subdivision (all 9 of us) that we are called "zombies" Our developer had planned for 120 homes and now in 2-1/2 years, he has 9 sold. He probably will be okay because he sold each builder that wanted to come in here, 10 lots each so those 12 guys will be the ones who make or break us. But there is such an upside to this. PEACE AND QUIET! So far, no turnover.
MicheleD
(Kentucky)

Posts:4491


09/30/2009 10:35 AM  
Yeah, that was pretty scary.

The Ring of Death (dead subdivisions or developments) that surrounds the Atlanta area was unBELIEVable!
DonnaS
(Tennessee)

Posts:5671


09/30/2009 10:45 AM  

On a recent trip thru Atlanta, there is a massive Real Estate billboard saying "We have 96,288 listings"
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