Sunday, September 28, 2008

McMansion Meltdown?

Finally, a top 10 list Raleigh is not on.

Towns That Could Be Hit Hardest by the Financial Crisis
by Prashant Gopal | Saturday, September 27, 2008 | provided by Business Week

The upheaval shaking Wall Street will hurt privileged enclaves as well as working-class neighborhoods from coast to coast. Find out which will fare the worst.

The story begins ...

How many former Lehman Brothers bankers or AIG executives are likely to be buying a Park Avenue apartment or a home in Darien, Conn., this year? Most likely answer: not many at all.

Reading the article shows that many of the nation's teardown hotspots are on the list of places expecting slowdowns. Of course all will be affected by this. But Fallonia predicts that activities such as this and this and this will be slowed as well.

Of course, we can never get these back.

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