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Crumbling concrete fund stripped out at last minute, as Massachusetts lawmakers scramble [Video]

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Personal Finance

As state lawmakers on Beacon Hill scrambled to end their formal session this week, among the items left on the cutting room floor is a plan to help people pay to fix their crumbling foundations. It’s an issue that’s been spreading across central Massachusetts and is now believed to impact thousands of homes in the state.When concrete is contaminated with pyrrhotite — a naturally occurring mineral found underneath parts of New England — it can fail prematurely, usually after just 20 or 30 years. That leads to massive cracks which threaten the stability of a home or building. The only fix is to jack up a home, demolish the foundation and pour a new one. The price tag for that can exceed $200,000. Homeowners insurance won’t cover it, and it’s not usually possible to obtain a home equity loan because the problem wipes out the value of a house.Pyrrhotite-laced concrete …

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