Chinese Drywall: Poised to give the market a boost?
It’s hard to believe, perhaps, but as reported in this morning’s Miami Herald, the Chinese Drywall issue could actually give the South Florida real estate market a boost. Now, with all the homeowners trapped in difficult situations and their financial woes and health problems mounting, I don’t know whether you’d venture to call this a silver lining, but investors ears are starting to perk up as the drywall issue says one important thing to them as potential buyers—big discount—an ability to gobble up properties at cut prices, refurbish them, and sell them for a profit. The situation could also stand to stimulate the local economy by creating a demand for construction work as these investors buy bulk and dive into rebuilding and repairs.
It’s an interesting development in the extremely dynamic Chinese Drywall issue, to say the least. I guess only time will tell how the issue ultimately affects the market in South Florida and other affected areas of the country. Stay-tuned…
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Where Is It
It wouldn't be fair for those
Toxic Chinese Drywall
The problem with the defective Chinese drywall has been causing homeowners and their families to deal with sulfur fumes that smell like “rotten eggs” and cause air conditioning coils to corrode as well as sinus and respiratory ailments, eye and skin irritation, persistent runny or bloody noses, headaches, and asthma. Some situations have become so severe that residents have had to vacate their homes. In some cases, victims have been harassed by builders into signing unfair, one-sided remediation agreements. I found a pretty good blog that has been providing valuable information on the problems: www.chinese-drywall-answers.com
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