Wednesday, 02 May 2012 17:30

Europe's Modern-Day Ghost Towns

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"A road sign stands between blocks of empty apartments at Francisco Hernando village at the Sesena real estate development near Madrid. Out of 13,000 apartments that were meant to make up the development of Sesena only 5,100 were built, many of which are now uninhabited and with those Spaniards who bought them as investments trying to sell them off for huge losses."

-- From the ghost towns we have all seen sprouting around China, they are now popping up in Europe with the creepy feeling that this is not the end of modern day ghost towns for Europe or the world. Barry Silverthorn, producer of the movie End of Suburbia, predicted this over eight years ago, and we are seeing it happen more and more with ever-quickening pace. This is collapse. -- Jonathan Barnes, Supervising Editor

CNBC article

 

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