Friday, July 23, 2010

abandoned homes in Boise/Meridian




The economic crash has created a new subject to explore. Hundreds of new homes are vacant in cities that were booming under the inflated economy. Here, millions of dollars in real estate sits empty in just one of many new subdivisions that investors lost everything on the promise of big returns from developers. It is interesting to note that the developers lost little or nothing. I learned a new acronym while working in Boise...OPM...other peoples' money. That is the mantra of big time developers. They make big promises and use other peoples' money to pay themselves well and avoid excessive risk.

4 comments:

Darren said...

This is a cool project. The old abandoned homes around Squirrel are cool, but these are more important photographs to make I think.

Russet said...

I'm curious ...I would have thought there was amazing squatter potential here!

Prescott said...

Russet, your are not far off. while I was is Boise, I was given the opportunity to stay in such a home. I opted for running water and electricity. However, there are those who would think they moved into the Taj given different circumstances. There is one happening that is inline with the ethics of the situation; people are stripping valuable items from the houses...ranges, fridges, faucets, etc. While I was "touring" I was offered a granite top desk. I tried to lift the thing and any thought I might have entertained was quickly squelched. The homes remain in limbo while the banks try and figure out what to do with the results of their own greed. Both the banks and the developers are at fault. It is just the many developers are insulated from the fallout because they developed with OPM (other peoples money). We, the American middle class, will pick up the tab eventually.

Russet said...

yes really interesting how housing has taken on a new meaning..profit for some and an unreachable promise for others. I like the idea of an on mass movement of a community, like some artists have done in other areas, into this sort of housing, claiming it for it's meaning as living shelter and homes.
Why strip these houses when they offer an opportunity to be houses to live in.