Low interest rates creating a bubble
The “Skyscraper Curse” describes the eerie connection between record-breaking skyscrapers and global economic crises.
There are no true skyscrapers being built in Auburn, Alabama, home of Auburn University. But, there has been a great deal of building big and tall.
Luxury student apartment building leads the way, followed by high-end restaurants, and retail space. Two student apartment buildings were torn down this past week to make room for yet more building. The city government is also spending truckloads of money on street improvements and a state-of-the-art high school.
What are people thinking? Don’t they realize we are in one of the weakest recoveries on record and possibly headed for another recession? Is it greedy bankers and construction companies run amuck? Is it out-of-control architects and chefs that are to blame? Or is it the spoiled rich college kids who demand luxury apartments and locally grown veggies?
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
9 comments:
Because saying, "I live in a condo." sounds so much better than, "I live in an apartment."
No difference.
good point 12:28
It is part of the agenda 21 shift of moving people out of the rural countryside into cities. Laws such as the residential sprinkler requirement and the overkill septic systems are making single family construction unaffordable for middle America.
I always thought you owned a condo....you rent an apartment.
12:51 Don't ya just love MD?
Has anyone seen the amenities offered by the new student housing in Salisbury???? They live quite comfortably in their fully furnished 4 bedroom 4.5 bathroom "apartments" granite countertops, private balconies, swim up bar, etc etc etc....$750/month per bedroom. How do they afford it?
Swim up bar??
Only new housing being built in my neighborhood are for chickens. They smell a little but are tasty and don't steal my stuff.
University Orchard has a swim up "bar" in their pool, yes.
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