Banks turn to demolition of foreclosed properties to ease housing-market pressures - The Washington Post
The banks have even been footing the bill for the demolitions — as much as $7,500 a pop. Four years into the housing crisis, the ongoing expense of upkeep and taxes, along with costly code violations and the price of marketing the properties, has saddled banks with a heavy burden. It often has become cheaper to knock down decaying homes no one wants.
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Think about that.
3 comments:
This post brings to mind a tour Shu Bartholomew gave me of Northern Virginia CIDs some years ago with housing units built for a short shelf life -- basically disposable housing.
The banks probably figure the house is such a work of claptrap that it's not worth preserving relative to the land value. Didn't Bob Dylan write a song that that referred to ticky tacky houses?
You might be thinking of "Little Boxes" by Malvina Reynolds, which was the theme song to "Weeds"
www.youtube.com/watch?v=i8StRAJCork
Little boxes on a hill side,
little boxes made of tickytacky.
Little boxes on a hillside,
little boxes all the same.
There's a green one,
and a pink one,
and a blue one,
and a yellow one.
And they're all made of tickytacky,
and they all look just the same.
And the people in the houses,
all went to the universities,
where they were put in boxes,
and they came out all the same.
And there's doctors,
and lawyers,
and business executives.
And they're all made out of tickytacky,
and they all look just the same
More about "Little Boxes":
http://www.squidoo.com/little-boxes
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