We’ve talked about this subject as recently as last weeks post on local stoned construction crews, but there’s an article on MSNBC about the problems caused by shoddy boom-time home construction in the US, with some blaming the high number of foreclosures partly on that issue:
“Everything you read says that the rise in foreclosure has to due with subprime lending,” says Nancy Seats, president of Homeowners Against Deficient Dwellings, a nonprofit consumer protection group for homeowners dealing with defective construction. “But [defective construction] absolutely has something to due with the rise in foreclosures. There were absolutely investors that pushed up the price of housing, but there is no question that there are home buyers that were taken in and scammed big-time.”
So will our experience with the Vancouver leaky condo debacle protect us from a similar problem or should we be taking an extra close look at construction quality during our own boom?