A dirty secret was revealed in [tag-ice] Minneapolis[/tag-ice] last Wednesday night.
According to The Kiplinger Letter (Aug.3) around 30% of all bridges in America are either totally extinct and antiquated or have serious structural problems.
The bad news doesn’t end there. “Many roads, dams, waterway locks, city water mains and sewer pipes are also decrepit and in dire need of upgrading,” the Kiplinger Letter reports.
We brought the dam problem to your attention way back in February with our post Vital Flood Maps Kept Under Wraps Because of Terrorist Fears
We pointed out there are literally thousands of people living and working downriver from the Wolf Creek Dam who could be killed or injured should it break.
Unless massive repairs are performed now, a major disaster in Kentucky and Tennessee will happen. Question is are they doing enough quickly enough?
How many other states have similar problems?
This is a wake-up call for everyone, but especially property investors and managers. Why? Your [tag-self]properties[/tag-self] may be in danger.
There were large numbers of folks who were horrified to discover they were in the path of a major dam break in another state. I saw their shock firsthand when they received the Corp of Engineers report for the first time on television.
Do you honestly think that won’t affect their [tag-tec]property values[/tag-tec]?
Here’s a sobering point. We need to add infrastructure, flood and sewer information to our due diligence as we research future buys.
As we’ve said on many occasions, study the neighborhood. Know its history.
For example, I am an eighth generation Nashvillian.
A certain tidbit of information has been passed down in my family for all those generations. We’ve been told not to buy or build on the east side of the river.
Why? More tornadoes occur there.
Is there truth to my family’s urban legend?
Check out the history. During the last century there were four major tornadoes in Nashville. Three of them hit east Nashville.
So far this century, there has been another one. Only last year twelve people were killed in the East Nashville tornado.
I’m not trying to scare you, but I fervently believe knowledge is power. And that power can be harnessed to make you a fortune along with work and timing. But you have to look at the facts yourself. You can’t take anyone else’s word for it.