Posted on 10/16/2009 6:57:14 PM PDT by stevie_d_64
WEST PALM BEACH, Fla. – James and Maria Ivory's dreams of a relaxing retirement on Florida's Gulf Coast were put on hold when they discovered their new home had been built with Chinese drywall that emits sulfuric fumes and corrodes pipes. It got worse when they asked their insurer for help — and not only was their claim denied, but they've been told their entire policy won't be renewed.
Thousands of homeowners nationwide who bought new houses constructed from the defective building materials are finding their hopes dashed, their lives in limbo. And experts warn that cases like the Ivorys', in which insurers drop policies or send notices of non-renewal based on the presence of the Chinese drywall, will become rampant as insurance companies process the hundreds of claims currently in the pipeline.
At least three insurers have already canceled or refused to renew policies after homeowners sought their help replacing the bad wallboard. Because mortgage companies require homeowners to insure their properties, they are then at risk of foreclosure, yet no law prevents the cancellations.
(Excerpt) Read more at news.yahoo.com ...
I could explain to you exactly what was happening in the building products industry at the time this Chinese drywall was imported, but you don't really care.
"Allocation" means that, "I don't care how much you want, this is how much you are going to get."
Agreed, that’s a good point. I’d have to bet that very few builders ever imagined they’d run shy of drywall. It’s just such a no-think item.
Well, again (if it was 2004 and my memory serves correctly), we had the regular end-of-summer allocation thing going on (that’s just the short-term building cycle), we were at the apogee of the long-term building boom (or close nearby), and we were recovering from two rather destructive hurricanes (down South—don’t remember their names). Every wallboard plant was running pedal-to-the-metal, and there still wasn’t enough.
Trust me, if we had to defer to protectionists with regard to what constitutes “real” manufacturing, we’d still be manufacturing those 3-wheel ATC’s that were fun, but dangerous as hell. As for the rest, read the rest of my replies . . . I have some expertise in this area.
Oh, and what does “TIA” mean?
As for the three wheelers? Lawyers gotta eat too! (j/k)
Most homeowners have no clue what goes into building their homes. The contractor (the guy with the money and no liability) is the one pinching pennies.
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