Warning----chinese drywall!!!

[Rich Weese]

If I'm in the wrong forum, please tell me where. This is a problem which is going to turn into an epidemic, imo. If you haven't heard about it, you will. I've spent the last week in FL making offers on homes. I've actually seen and smelled Chinese drywall.
When the building boom was in full force a few years ago(2003-2008) suppliers couldn't keep up. China to the rescue!!! They ended up using materials that actually puts off a gas and permeates porous material(wood and concrete) and eats up metals. There appears to be very little you can do to fix it. It can be tested for, but not really fixed. There are some meetings going on currently in High govt circles about what to do.
It also appears to create some health risk, but literally destroys a home. The areas that were booming are the ones most at risk; AZ, Vegas, and especially Fl. Inspectors are guessing maybe 20% of homes built in that period or REHABBED in that period may have it. I suggest anyone buying a home built in that period learn how to recognize it and have property tested for it. If it has it, RUN!!!
You'll hear more about this. NO builder or supplier has enough assets or insurance to fix problem. My guess is we'll see another MONSTROUS bailout to keep the economy from sinking. I actually saw it, smelled it and saw the testa today. In FL, you are even asked to sign a form with your offers, absolving everyone from liability if you don't have it tested.
IMO, the resulting mess from this could be gigantic. Found as far away from FL as Alaska, and still was in supply houses as late as 1st quarter of this year. This will be real scary, but also create needs for housing for the displaced people and those finding themselves with unhealthy homes. Can you spell LAWSUITS or ATTORNEYS??? Keep fingers crossed and feel free to learn about it on your own. Rich.