The Housing Bubble | Correr Es Mi Destino

The Housing Bubble (1/10)

By Zhu • November 15, 2008 • Print This Blahblah

Amer·i·ca·na
Pronunciation: \ə-ˌmer-ə-ˈkä-nə, -ˌmər-, -ˌme-rə-, -ˈka-nə\
Function: noun plural
Date: 1841

1: Materials concerning or characteristic of America, its civilization, or its culture ; broadly : things typical of America
2: American culture

In this series, I’d like to explore various aspect of life in North America. Each topic will be illustrated by a black and white picture.

A Burst Bubble

Owning a house. The true American dream.

North America is a land of settlers, a place where everything is possible, even buying one’s little piece of heaven. Land and a house on it. Far from expensive Europe or overcrowded Asia. A lot of households make it. Home sweet home.

Some weren’t that lucky this year. Subprime crisis, economic crisis, and the bubble burst. For a while.

Houses already built are waiting for buyers. Rows and rows of them, neatly lined up.

Picture: Ottawa, Neapan area, October 2008.

Filed under: Americana
Tagged: Americana

About the Author

Zhu

French woman in English Canada. Occasionally: speaks Mandarin or Spanish, bitches about the Canadian weather, writes left-wing rants, gives test to her students so that she can read the paper and have breakfast, speaks of cultural difference or goes backpacking across the world. And enjoys Canada as her new home.

15 Responses to “ The Housing Bubble (1/10) ”

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Annie Nov 17th, 2008 at 11:20 am

I think this not a seller’s market and not buyer’s market either. Things are worst from both the angles.

I think time is the only healer; but many of them are feeling time is the only killer Hope things will be better soon!
Baoru Nov 18th, 2008 at 9:03 am

Is it like buy 1 take 2 in America now? Hehehehe…
Zhu Nov 18th, 2008 at 6:08 pm

@Aiglee - But you planed your dreams and you seem down-to-earth… a lot of people weren’t.

@Monica - So neighborhood really look dead in OTtawa, not so much because people were evicted (we are not to that extend as far as I know) but because so many houses were build… and no one has the money to buy them now.

@Annie - Time and maybe learning from our mistakes. We did make a lot… borrowing is not a way of life.

@Baoru - Yeah, and take out is cheaper than live-in
NewWrldYankee Nov 19th, 2008 at 7:47 am

Oh, how true is this picture. People so just live to for that dream, but actually now at least, it is cheaper to do so. Too many foreclosures.

Btw, I love the post idea..It’s giving me ideas in fact. Can’t wait to see more! GIVE ME MORE!! =)
Annie Nov 19th, 2008 at 3:11 pm

I know zhu! But when time rather bad time comes people start believing in “Beg/ Steal/ Borrow” And thats how this vicious circle starts