My Way News - More Than 70,000 Bridges Rated Deficient
After the Minnesota bridge collapse, you can expect more articles on crumbling public infrastructure. I talk a lot about crumbling private infrastructure, so which is a bigger problem? The main difference is the way the costs are handled. When the private streets in an HOA have to be repaired, you can expect a special assessment that will be pretty stiff, with $10,000 or $20,000 being fairly common these days. No way will any taxpayer in the nation get hit with a $10,000 tax increase for this bridge collapse, or all 70,000 of the "deficient" bridges. And the market consequences are different. It is possible for all concerned to walk away from a crumbling CID and for nobody to buy another unit. But there haven't been many public "ghost towns" created recently that I know of. Somehow, some level of government seems to step up, or "public-private partnerships" get set up.