The financial crisis hits California hard. Take a look at these pictures and see what the recession does to real estate development.
“Streets and housing plots are seen vacant at a 750-home housing development where construction was halted November 20, 2008 in Rio Vista, California. The northern California city is considering filing for bankruptcy as it struggles to deal with a $816,000 deficit in its general fund. The fund is used for a variety of purposes, including employee wages.”
Living in this desolate neighbourhood, at least you can organise endless beach volleyball tournaments…
3 Comments
they forgot to make the neighborhood!
haha this is pretty hilarious. when are people going to learn that suburbua is going to fail.
Just like the show “Arrested Development”
2 Trackbacks
[...] issues such as the climate problem, shrink of household size and the economic meltdown affect the future of suburban areas, especially in the United States, and could lead to a downfall of [...]
[...] The financial crisis hits California hard. Take a look at these pictures taken in Rio Vista, and see what the recession does to real estate development. Read more… [...]