This is called a 'sink hole' and it is one of a few that have appeared in recent years in Guatemala City. They are typically over 100m deep, probably caused by water escaping from a drain and eroding away the rock below.
Of course conspiracy theorists posit the idea that these holes are caused by some sort of alien weapon, such as a powerful energy beam from space, but the water theory seems to be more plausible.
I think I might move to another city if I lived there.
Sink holes are a very common thing where I live. It is nothing for one to open up. In fact the house my brother lives in had a sink hole open up and was sinking part of their house. They pumped concrete and installed steel beams down into the hole to stabilize the house. From what I have been told and read when they fix a sink hole like this it is actually safer then it ever was to susceptible sink holes. Insurance companies here will grant you a policy on a repaired sink hole home faster than they will on a normal house. Home owner insurance here is extremely hard to get and it super expensive so that is saying something if they will insure a repaired sink hole home.
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