“The property loss from Chinese drywall could exceed every U.S. hurricane except Katrina and Andrew.”
The complaints received by the Consumer Products Safety Commission show that the impact of Chinese drywall will be widespread. Between 2004-2006, an estimated 500 million pounds of tainted drywall came into the United States. It is quite possible that the tainted drywall is now in more than 100,000 homes.
The tainted drywall supplies have affected all but 12 states, with the greatest problems occurring in Florida, Louisiana, Mississippi, Alabama, and Virginia.
“Based on $80 per square foot (the lowest cost from the verdicts made public) in 100,000 homes with an average of 2,200 square feet per house, the loss would be $18 billion in property damage”.
The damaging health effects of having to live with the drywall have not been discussed, but the potential for property damage/claims alone are catastrophic.