Owners Of New $600,000 Homes Left High & Dry As Developer Goes Under

In Massachusetts, The Eagle-Tribune reports on the story of the upscale but unfinished Crystal Farms subdivision in Haverhill and the handful of owners of new homes there dealing with the problems of living in the unfinished subdivision. The developer went under, and the project was foreclosed by the lender (and now the new owner), North Shore Bank of Peabody. Among the problems are that the residents who have moved in to their completed homes pay $5,000 to $6,000 a year in real estate taxes, but have no street lights, no municipal trash, snow removal or other services normally provided by the city, no mail services, no curbing or sidewalks, but plenty of potholes. For more, see Neighborhood abandoned after developer forecloses.