In a sign of the times, the trend of high-end squatting seems to be the current rage. The housing bust has left thousands of mansions unattended and vacant and those who would be homeless are moving in.
The most high profile squatters to date have been actor Randy Quaid (brother to Dennis Quaid) and his wife, Evi. The Quaids were recently arrested for living in a guest house, now foreclosed on that was once part of their property. Against their insistence that they really did belong there, they were taken away in handcuffs, booked and held until they were able to post a bail of $10,000.
Quaid is best known for his roles in National Lampoon Vacation, Independence Day and Brokeback Mountain, and this recent arrest was not his first brush with the law. He and his wife were also arrested for defrauding an innkeeper after skipping out on a $10,000 hotel bill.
The Quaids are certainly not alone in their quest for living quarters that do not really belong to them. The practice seems to be spreading throughout various parts of the country and is probably occurring more than we know.
An increasing number of mansions are in the possession of asset managers who have little time to be constantly checking on them. And, to make matters worse, many of these homes are isolated, walled in by trees and are otherwise difficult for any passersby to take note of.
Homeless would-be millionaires are realizing that these huge dwellings can go for very long times in between showings since the pool of buyers for them is relatively small. It makes them an instant target for those seeking shelter from the cold world.
Before the downturn in housing, squatting was something that was mostly seen in lower end areas where people would just slip in knowing that the local police had their hands too full to check on every vacant building.
Now, there are some great opportunities for those in distress to take up residence in some very fashionable digs.
Really, if you are going to squat - you may as well do it in style.
Copyright 2010 "Squatters - Moving In on Foreclosed Mansions "
Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230