Quote:
Originally Posted by Bonsai Tree
Yeah, why should I feel bad for the people in McMansions who made a bad investment? They could have made a better investment, but they chose the quick and easy way out. McMansions are unsustainable and moreover unpopular nowadays, so don't tell me the McMansions should be selling out. People have realized that they just aren't worth it anymore, and that's the real reason their prices have plummeted. They are in the middle of nowhere, not near transit, usually have shotty construction, and are just ugly. I have no sympathy for people who have made that poor of an investment.
|
I think the 'urbanist' in you is correct, but you are missing a larger point.
It's not an issue of "feeling sorry" for anybody. It's not like I care about those people either.
What matters is, McMansions in Chicagoland are performing more poorly than McMansions in 99 other major American metros. So large numbers of people in our region, comparative to pretty much the rest of America who made similarly bone-headed investments, are losing wealth (or not gaining it). That is never a good thing for a regional economy, especially in light of our growing pension balloon and tax liability (see my post above).
Hybrid Mode