The Leaky Building Situation May Cripple the Entire Economy
While it is estimated that only 40,000 homes are currently affected
, the leaky building conditions are affecting the entire country's financial condition. If you own a leaky home, you are the only party eligible to seek financial damages. The rest of the country is out of luck. The average citizen invests most of their hard-earned money purchasing a home. Purchasing a home is the single largest purchase that a person will make in their lifetime. If 40,000 leaky homes are currently rotting away (many of which are on the market), then homeowners will abandon the property, thereby increasing the number of foreclosures. A foreclosure will prohibit the homeowner from purchasing a non leaky building due to poor credit; assuming that he can ever save up enough of a down payment to purchase another home. As a result, the real estate market screeches to a halt, home values drop as desperate sellers attempt to unload their leaky homes. For sellers with perfectly healthy homes, they too are impacted, as buyers are in short supply. When will the leaky building crisis end? Those indirectly affected by the leaky home conditions include mortgage companies, real estate agents, those selling a healthy home, and building contractors. The list is seemingly endless, yet only people who own a leaky building or leaky home is able to seek retribution from builders, timber companies and the Government agencies who created the problem in the first place. If you own a leaky home or leaky buildings, settling for the first offer from the Government may be tempting, but doing so is a compromise. Many of these settlement offers force the leaky home owner to waive any future rights for seeking damages. In addition, the settlement offers are insulting, considering the damage that has been done to people's homes and lives. If you purchase a defective auto, you can easily sell it and start over with a better built one. The same does not hold true for a home. If you think that you may own a leaky home, have an inspection to verify your suspicions. If the inspection uncovers moisture, molds, or leaks, contact a leaky homes lawyer immediately. A leaky homes lawyer will be well versed in the damages caused by a leaky building or leaky home and your rights under the law to seek compensation for those damages.The Leaky Building Situation May Cripple the Entire Economy
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