PROPERTY BUZZ TERMS Zombie Mansions

Insider Story Locations

Find our most recent stories tagged by their locations. Click here for more story locations.

Posted: 13 Jan 2010 | 6:00 am

Thought to be originated by the Wall Street Journal to describe the growing legion of vacant multi million dollar luxury properties in the United States.

As the financial crises continued to spiral over a two year period a combination of speculative building and the inability by developers to sell premium real estate coupled with financial defaults to banks with resulting foreclosures saw a rise in what has not become a phenomenon known as Zombie Mansions.

With no signs on the horizon in many markets for an upswing either in sales or those ill advised negative equity investments the growing number of these mega properties which are abandoned remains on the upswing.

There have been no reports from Hollywood yet as to whether either a reality based TV show or else movie franchise like the 'Twilight' series will be looking at incorporating the term into an entertainment offering.

DO YOU LIKE THIS?

Insider up to the Minute

Cool Hunting - On the Web

Too cool for school Patong boutique hotel Ella
www.theellagroup.org

Burned out on TripAdvisor, check out gogobot
www.gogobot.com

Fast growing online restaurant review site
www.zomato.com

PHUKET WEATHER

The Green Report

A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:

Vietnamese Green Architect Hits Limelight

Vietnam's Vo Trong Nghia is continuing to attract worldwide attention over unique sustainable design.

They Call It Parklet

Now here is a newly coined term on the environmental horizon - Parklet.