Have a seat and relax...
IT is 2011, it seems that nothing will change. If it does, is not for the better. The pictures demonstrate the essential real estate scene with natural accomplices: banks, architects, attorneys, engineers, individual and institutional speculators who had a nice run while it lasted, in the background.
Detroit, Michigan comes to mind. The amount of abandoned commercial buildings, condos, walk ups and private residences in a five miles radio is astounding.
On the first picture, an old, probably 1960's four story rental apartment structure with nice balconies and view toward Placita Barcelo. Abandoned for many years.
The second picture shows a cute structure in a too small space. Inflated prices, now in hands of the bank lending to the developer who got the building permits after some bribing, but ran out of luck. This building for all effect is abandoned.
Following picture, these ugly concrete structures, are destined for families of four, with less than $25,000 income. With the amount of abandoned buildinds, old and new, there is no need for new construction. Restoring previously built houses make more sense, considering the acute lack of buyers.
On the fourth picture, four nice looking apartments, starting over $200,000, The developer ran out of money. Abandoned.
The whole structure of this New York Style Barber Shop was a house that keeps expanding, becoming taller and wider, without any construction permits as time goes by. Evidently, belonging to exotic owners, renting to his compatriots.
Last but not least, the second story house on the top picture, with wires and electricity poles as the view, was illegally built while yours truly lived at 2011 Sagrado Corazon, Paseo del Bosque, a walk up.
It was a maddening situation since it destroyed the 180 degrees view, we had to the Atlantic, a mile away.
In a very brief way, this shows the real estate situation in the Metro Zone of San Juan. The housing developers claim
20,000 new concrete units in their inventory, but if you add every other house and building, the numbers could triplicate easily.
With these panorama, you can guess what is to expect regarding Flora and Fauna, ecology, environment and everything else...down here in the asphalt/concrete enchanted island...