Banking

Real estate bubble leads to sci-fi civic planning


If this doesn't prove that there's a massively overinflated real estate market bubble in the U.S., I don't know what will.


Apparently, completing 6.2 miles of the 710 freeway between Pasadena

and Long Beach would require buying so much money in overpriced

historic homes that digging a $2 billion underground freeway tunnel

beneath the swanky neighborhoods has surfaced as a viable option.


Let's repeat that: Building a $2 billion underground freeway is cheaper than buying a six-mile stretch of houses in Southern California! Yeah, that bubble is never going to burst.

About

Jay Garmon has a vast and terrifying knowledge of all things obscure, obtuse, and irrelevant. One day, he hopes to write science fiction, but for now he'll settle for something stranger -- amusing and abusing IT pros. Read his full profile. You can a...

3 comments
jmgarvin
jmgarvin

'Course in the Bay Area we have the same problem...no new roads and very little maintenance on the existing ones.

pk80356
pk80356

I wonder is they every build that tunnel? If they haven't, I wonder if the decision would have been that same now. :) Peter

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