Old residential blocks: What happens if we do nothing and an earthquake knocks our door?
Replying to your questions
Part 4 of my reply to Mr Pedro Matos.
Hello to everyone. Last week I analysed to you the subject of old residential blocks from many points of view. But today I would like to remind you what may happen to us if we simply do nothing about it.
Why is it possible to end up doing nothing for the old residential blocks
There is nothing more dangerous than the “power of remaining idle”. Especially in such a sensitive issue like this. Why is it possible to happen this? I can give you plenty of reasons. Because:
- Politicians may prefer not to “disturb” the people, avoiding undertaking drastic measures on this subject.
- The Romanian and European Grants for refurbishment may be spent for the wrong reasons, being partially “lost between bureaucracy and corruption”.
- Romanian and foreign owners may search for all possible excuses in order to avoid the necessary investments to their property. (For some people tuica or beer is more important than the place they stay together with their children).
- A rising economy may increase the apartment prices and as demand may return, many will think “why to invest myself in this? Let the next one pay”.
- Banks may be simply afraid to finance properties which are older than 1977 and they might choose to direct their available resources to newer properties.
- (Add here any other reason you might think of. There are tens of them)
“The power of idle”: Nothing more dangerous. What may happen after an earthquake…
So let us assume that we do nothing, we let the situation “as it is” and a major earthquake “knocks at our door”. Except the obvious huge problem of lives lost and other casualties, we will wake up next morning trying to face the following problems:
- Too many old residential blocks will collapse, or they will have major damages, becoming “dangerous to live in”.
- People will massively abandon old blocks and search for new ones to move in.
- Subsequently, the price of old apartments will collapse…
- While the price of new ones will skyrocket.
- The politicians will search for easy victims, just to satisfy the people’s lust for punishment.
- Thousands (or more) people will see their life being deteriorated for years, if not decades.
- Destroyed blocks will be transformed into lands again, while semi-destroyed blocks will remain like this for years, as their owners will probably not have the money to rebuild them.
- Banks will lose millions (or billions?) from mortgages granted to old blocks (sorry, I forgot, I am not supposed to care for banks’ money… despite the fact that the recent crisis proved to all of us that if banks don’t have money, the taxpayers pay for them).
- And many more…
This time there will be no communistic system to start solving the problems…
We live in capitalism. After the previous earthquake, the communistic regime took over the city’s “urban regeneration” and (as there was major pressure by the public and the State was obliged to resolve the home problem of people) in just few years time the situation was more or less under control.
Today we live in a different world. Is there anyone out there who expects the State to appear after an earthquake and protect its citizens? Is there anyone who considers that the State will rebuild all these private properties? If yes, I would like to meet him, in order to discuss also for the scenario of Michael Jackson being alive (and having died only for publicity purposes), plus other science fiction stories.
While some “smecheri” pay to hide the red bullet, some investors search to buy land rights…
I have heard about many cases when an… “intelligent” owner of a property paid someone in order to remove the property from the list of “properties with red bullet” (these are the properties which are probable to suffer major damages after a new earthquake). These “smecheri” think that all the rest are stupid and they try to “dress the prostitute with decent clothes, in order to present her as virgin”. But it is not their mistake. If all these rumours are true, it is pity that the authorities don’t interfere…
In the same time, I know two investors who search to find land rights. You know… “cota indivisa” that every apartment has. They say that once an earthquake occurs, many buildings will be transformed into lands again and they want to be involved in this risky (but promising huge profits) game.
Don’t remain idle. You will be the first one to lose.
I know, you might find it bad to discuss about a potential problem that might not even happen over the following years. But we never know when an earthquake returns to our door and we should be read for this scenario.
To all of you who own properties, with all due respect, I kindly propose to refurbish – consolidate their properties. You will be the first one to lose if you remain idle and most probably if something bad happens, you will be victim of speculation.
Except complaining about our lives, trying to prevent future problems is a clear sign of self respect. And if you don’t respect yourself now, be sure that no one else will respect you in a bad moment…
What is your opinion?