I saw something about a California brand new neighborhood that is 90% empty, many of the homes are being rented out to section 8 tenants and there is now a crime problem in this brand new expensive neighborhood in the exurbs. Homeowners are now stuck with houses that no one wants and they are afraid for their physical safety.
Part of this problem is that the mega builders just want to get rich quick. They get their money and just take off. Building hundreds of houses at a time creates a glutted market which always ends with disaster. Back in the eighties there was a glut of condos, some of the condos in our area were left empty. This is a cycle but it shouldn’t be, housing shouldn’t be about rolling the dice.
And folks who were foolish enough to buy a house 60 miles from work just so they can get something "big" for a little money.