architecture against itself

The ponzi scheme created to sell real estate at preposterously inflated levels during the last eight years is now having a new feedback effect. Just as it drove rampant construction, producing far more housing than anybody will need any time in the near future, it is now undoing that housing. Once foreclosures happen, houses and apartments are not only neglected, they become the focus of their occupants’ rage.

CNN explains.

The ponzi scheme created to sell real estate at preposterously inflated levels during the last eight years is now having a new feedback effect. Just as it drove rampant construction, producing far more housing than anybody will need any time in the near future, it is now undoing that housing. Once foreclosures happen, houses and apartments are not only neglected, they become the focus of their occupants’ rage.

CNN explains.

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