The sub-prime mortgage crisis is so bad, even Middle-earth is affected

 



 

Wow, you know that economic times are definitely tough when even the Hobbits are having their homes foreclosed on.

 

A few years ago in Bend, Oregon, a themed community was started up.  It was called The Shire, and as you probably guessed, it was based on J.R.R. Tolkein's Lord of the Rings.  The general idea was to make a whole community of homes and townhomes that all fit into an old-world style reminiscent of the middle ages, with a flare for the fantastic as well.  All of the homes would come with a Hobbit Hole, or at least it was a tool shed designed to look like a Hobbit Hole.  Other features of the community included thatched roofs on the homes, a community park and stage area, and little details hidden throughout that were designed to remind one of fantasy and peace with nature.

 

However, times are tough in The Shire.  Of the 31 planned homes, only one house was sold, and the second home was only built to 90% completion, and then work stopped.  It now sits empty and the home will most likely go up for foreclosure and sell for less than half of it's original value of $900,000 (damn, who knew Hobbit Holes were so expensive).  The owner of the community, a Dr. Lynn MacDonald, died a little while ago, leaving the community without a buyer and going into default.

 

Whether or not the other 29 homes ever get built is up in the air.  Unless a new investor steps in takes up the cause, then the dreams of owning a little bit of Middle-earth will go away forever.