Monday, April 21, 2008

Same Story...

...different city:
Families such as the Colvins are trapped in homes worth far less than what they paid. Speculators, who helped fuel both the boom and its collapse, are also stuck, their get-rich-quick properties now money pits.

Meanwhile, cities and townships such as Buffalo, Otsego, Albertville and St. Michael, which were in the throes of building schools, roads and expanded water-treatment plants to match their growing populations, are left with big bills and the prospect of a dwindling tax base.
This is the unfortunate thing about the whole sprawl fiasco: the real effects on families. Unfortunately, the market will likely be ruthless in its lack of sympathy.