Millionaire's Sinking Skyscraper Condos Almost Worthless :(

  • Thread starter kyphysics
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In summary, Millennium Tower in San Francisco has sunk and tilted significantly since its completion in 2008, causing concern to its wealthy residents who have seen a decrease in their condos' value. Although deemed safe by city inspections, residents are still hesitant to occupy the building. One suggestion is to repurpose the building for homeless individuals to use.
  • #1
kyphysics
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http://www.businessinsider.com/is-millennium-tower-safe-still-leaning-sinking-2017-9

Bad news keeps piling up at the "leaning tower" of San Francisco.

Millennium Tower is a luxury residential high-rise that has sunk 17 inches and tilted 14 inches since it was completed in 2008. Though an inspection by the city showed it's safe to occupy, the building's wealthy residents take no solace. The value of their multimillion-dollar condos has tumbled $320,000 on average.

I guess insurance can't cover this, eh?
 
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  • #2
I believe they are working on a solution...

https://www.visittuscany.com/shared/visittuscany/immagini/blogs/idea/pushing-tower_wp7_14229.jpg
pushing-tower_wp7_14229.jpg
 
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Likes Rubidium_71, StoneTemplePython, DennisN and 2 others
  • #3
If the engineers declared it is still safe, and wealthy people refuse to live there, maybe they should let in homeless people so they can use it.
 

Related to Millionaire's Sinking Skyscraper Condos Almost Worthless :(

1. What caused the sinking of the skyscraper condos?

The sinking of the skyscraper condos was caused by a combination of poor construction techniques and the soft, unstable soil on which the building was built.

2. How much money did the millionaires lose on their condos?

It is estimated that the millionaires who invested in these sinking skyscraper condos lost millions of dollars each.

3. Were there any warning signs before the condos started sinking?

There were several warning signs, including cracks in the walls and floors, uneven settling of the building, and reports of sinking furniture and appliances.

4. Can the sinking be fixed?

It is possible to stabilize the building and prevent further sinking, but it would be an expensive and complicated process. It may not be worth the cost for the current owners.

5. Is this a common problem in the construction of high-rise buildings?

Sinking buildings are not common, but they can occur if proper construction techniques and soil analysis are not conducted. It is important for developers to thoroughly research and test the site before building on it.

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