Photo of the day: No work, don't ask

Photo of the Day: Pseudo 100 submits this shot of McMansionus interruptus. Work stopped in August, but a new sign went up recently to scare off the pesky -- and hopeful -- day laborers. Thanks, Pseudo. Comments? Send story tips and photos of peter.viles@latimes.com.

Comments

[seattlesnoop]

A fine example of a builder's interpretation of architecture as art in 2008. Should be submitted to the Guggenheim Museum for the benefit of future generations.
Undoubtedly, more projects will follow suit; could be quite a show for the Guggenheim.

[Hugo Chavez]

How about "Se Renta" instead?

[Uncle Billy]

One wonders if the bank stopped their financing installments after they got up and running. I can't imagine the money is freely flowing on construction loans lately. Can't imagine financing for spec construction exists at all.

Just got back from one of the new completed developments at Porter Ranch. It's eerie up there... didn't see any tumbleweed rolling by, but definitely the same feeling. The area I was in was meant for leasing to retired folks. Hundreds of units. I wonder also if they started up that way as the place is built out as condos. Maybe they switched gears to try to attract boomers and get at least some cash coming in. Doesn't seem to be working... parking lots were almost completely empty. With all the empty homes, maybe rents will actually be coming down overall.

[californian]

at what point does the wood start to rot when left exposed to the elements?

[Rob]

This reminds me of our vacations in Mexico as a kid (70's). All along the beachfront there would be half built town homes, business complexes and other structures scattered all over. They were just sitting there abandoned for years, sand piling up. My pops explained the corruption aspects and I leaned something about the dollar.

[Hula Girl]

Is that not the same sign found in front of shuttered businesses in 1929?

[TakeFive]

Si, se puede!

[Bubblewatcher]

I hear all the illegals -- the ones who were causing every problem in this state from crime to poor healthcare -- are now returning to Mexico because of the lack of construction jobs here.

I guess that means all of our problems are solved!

[problemWithcaring]

This reminds me that the *full* effect of the current economic downturn remains, as usual, "undocumented."

I wonder what other effects a construction slowdown will have on large swaths of undocumented immigrant and unskilled migrant laborers in our state. Last summer, the consensus was commercial construction and service would absorb them. Now that doesn't seem so likely. Does this stem the tide of immigration? (hardly, right). Also, I’m sure folks down there are sweating about the status of their $13 billion in remittances (received in 2004 from California.) That’s a lot of pesos, and from the looks of things, Mexico is already in crisis mode: http://tinyurl.com/2vkh67

"To help rein in consumer prices, President Felipe Calderon
cut highway tolls in December, convinced retailers
including Wal-Mart de Mexico SAB to sell basic food
products at a discount in the first three months of 2008
and reduced industrial power rates by as much as 30
percent this year."

[MyLessThanPrimeBeef]

Hula Girl, I could be wrong, but I think it is also the same sign from the Depression of 1893 and the Panic of 1873.

[Robert S. Hoover]

Someone asked:
>at what point does the wood start to rot when left exposed to the elements?
----------------------------------------------------------------------

It won't rot without additional moisture. But the longer the wood remains exposed, the greater the risk it will become infested with dry-wood termites.

Exposed to the elements, wood desicates, giving up much of its strength as it dries, altering its dimensions as it shrinks. Since many of these overly large residential structures are poorly engineered to begin with, those left in a semi-finished state for any period of time will present future occupants with a number of problems.

However, the odds are, a lot of these suspended construction jobs will burn, either accidentally or otherwise.

[MyLessThanPrimeBeef]

Too bad we don't have an erupting volcano; otherwise, these architectural gems could be preserved for future archaeologists.

[mbagrad]

Reminds me of my highschool years in Temecula during 1990-1992. We used to sneak into the unfinished developments and party 'till the security guards came. Late in the cycle they started fencing them off. Nowdays I notice they do that as the first step.

At least today's teenagers will have somewhere to party :)

[lacontractor]

Construction loans will not stop half way through unless the developer makes significant changes during construction, my guess for this one was that the finance was never properly arranged to start with, financing for spec homes is still out there except it costs much more (+2 points compared to 12 months ago) and its only for well qualified developers. as for the illegal issue people keep on forgetting that without the cheap labor they provide the cost of construction would be at least 20% higher..

[Jeremy(jemarqu)]

I saw two Ford dealerships closed in Socal. One in Whittier and the other in Claremont. I guess this is another sign of the times.

[markl]

more doom coming if ambac and mbi go bust next week as they are expected to, and unless the govt intervenes there will be a huge financial shock in the next week or so..Im talking HUGE like weve never seen.
This whole subprime ponzi scheme is not only busting RE but is now breaking major banks and wall st financial institutions.To suggest that RE is near a bottom after having fallen a measly 17% from peak is absurd...Just in the last 3 months alone major banks like citi,wamu have fallen 50-80%,countrywide down 90% since march,b of a down 40%...So if the financiers are down this much how can the underlying asset(RE) not suffer a similar drop?Dont worry, houses arent liquid like stocks so they will suffer a slower devastation...