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RIA Novosti / Mikhail Fomichev, STF 12.10.2010, 15:47

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Strong elite residential real estate brings developers back

Published: 12 October, 2010, 16:47
Edited: 13 October, 2010, 06:28


Image from ballerhouse.com

2010 has seen a strong performance from elite quality residential real estate, with developers bringing project back into play after being hit by the global credit crunch.

 
1 COMMENT
Bianca October 12, 2010, 23:44 quote
0

Another way to fleece the taxpaying public. Elite residental real estate in suberbia is a tremendous burden on the public. Yes, the developers look at the availability of schools and other services, but they do not bother themselves with the cost of roads, water and sewer systems, electriticy and transportation. They do not care how much more the public will be burdened by the costs of MAINTENTANCE of all the new suburban roads, cost of cleaning, snow removal, fire and police services. The elite can afford to build such distant high-end housing, because the government is too weak to stop the development that is bad for the environment and will make local government budgets explode. No thought has been given to a new direction in urban planning, that would prevent the cost that leads to bankrupcy, as it is now more then evident accross US. Some lessons just cannot be tought, as the public is unwilling to learn.

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