Peak Oil + Peak Money = McMansion Meltdown
Now there are websites that help you walk away from your mortgage, using the same stock photos that used to adorn the mortgage company websites. And where are they walking away from? Triple Pundit notes that the areas hardest hit by the subprime meltdown are:
Subdivisions built on the edges of urban areas where once arable land is bulldozed to make way for over-sized, energy-intensive houses, with landscaping consisting of grassy yards adorned with non-native species of trees and shrubs, the whole lot of it out of character with the natural surroundings and located so that most residents are forced to drive miles and miles to get to work, for too often there is no public transportation available."
-Houses that need too much energy to heat or cool, too much gas to get to, and too much money to pay for. No wonder people are walking away. ::Triple Pundit and ::Atlantic
James Howard Kunstler predicted this at TED four years ago.