Contaminated drywall is getting to be a big problem for anyone buying a house that is less than five years old in the South and California.
Problem is during the building boom, drywall supplies were running low, so drywall was imported from China.
Some of that drywall is now proving to be defective.
Here's what is happening in some of these new homes.
walls are cumbling
appliances are breaking down
electrical wires are eating away
bad noxious smells forcing families out
While all this mess is beginning to unravel, we're also finding out there is no Federal standard for how drywall is manufactured.
Do what does that have to do with us?
When you invest in a new house that's in foreclosure or you get one of those really good deals, and they're out there, watch out for this.
As always, do your due diligence. Inspect that house as much as you can or as much as you're allowed. You need to put drywall on your inspection list.
If you think there are problems, and you smell a rat here, don't invest.
There is a very good video on CBS News explaining more of the drywall problem.
Go to CBS News Bad Drywall Rots New Homes
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