Topics: home, real estate
Perhaps the biggest sign yet that housing prices are a tad too high: people setting up permanent residences in mall parking garages. As the story indicates, a guy named Michael Townsend led a group of Rhode Islanders who set up living quarters behind a wall of concrete in a Providence shopping mall garage.
Apparently the Mallpartment™ (patent and trademark pending) had electricity, furniture, and… lots of parking. No running water though, but residents could just use the mall restrooms or stand under the parking garage gutters for a nice cold shower.
Michael Townsend was arrested and charged with trespassing, but he was only sentenced to probation. I know a lot of people paying hefty mortgages would have liked to see Michael Townsend go to jail for scamming his way into a rent-free apartment.