Even Mark Twain can’t escape housing market
All those homeowners struggling to pay their bills have some good company: Mark Twain.
Well, sort of.
The Associated Press in a June 28 story by writer Stephanie Reitz reported that several historic homes are struggling to stay open because of the economy. Corporations and individuals are providing less financial support while the costs of keeping the historic sites open to the public are rising.
According to the story, the home of writer Edith Wharton in Lenox, Mass., is facing foreclosure. Mark Twain’s home is unable to repay a $4.9 million loan from an earlier expansion project.
Again, this is more evidence of the amazingly widespread impact of the housing market’s struggles. The worst news? Many housing experts predict that things are going to get worse before they get better.
Better visit that Twain home fast.
It’s sad that we’re probably going to lose some great historic places just because of a slump in the economy. Hopefully, the people who buy them, if they are sold, end up being those interested in the historical significance, not developers just going to tear them down.
Hi, Allison:
You’d hope that these historic sites would be able to survive the housing slump. It would be a tragedy if they didn’t.