We’ve all read endlessly about the effects of the real estate bubble
on the banking system, GDP, monetary policy, and all the rest. If you
have had enough financial analysis, if you are ready to read something
about the human side of the housing crash, try reading Tana French’s latest novel, Broken Harbor.
The story, like all the author’s mysteries, is set in Ireland, but it
could just as well have been Las Vegas, Spain, or the UK. Things start
out well for Jenny and Pat, the central characters. A high-school
romance, a storybook wedding, good jobs, kids, an SUV—what more do they
need? Obviously, to “get on the housing ladder.” Buy that first
affordable place, maybe not their dream home, but flip it in a year or
two for a big gain and look for something that is really ideal. Uh-oh.
Looking for a place that will fit the budget of a couple of
twenty-somethings on the way up, Jenny and Pat sign up for a
three-bedroom home in a new subdivision. Brianstown is under
construction on the site of a bulldozed fishing village called Broken
Harbor, a too-long commute north of Dublin. To get the best price, they
put their money down on a yet-to-be built. The brochure is full of
promises, not just about the house, but about the shopping center, day
care, community center, exercise facility and other amenities. Uh-oh,
again. >>>Read more
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