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Banks : Destroying New Homes

In Southern California, banks have started destroying brand new homes, after the builder has gone bankrupt. Part 1 of 3, I`m not going to upload all 3 part`s, just click on video to watch the rest...

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15 Comments

Current View: 15 / Show all Comments

erico : LVL 40: VP 4.8: said:

erico

24 votes NegativePositive

207 days 12 hours ago...

Like he said, its because they can`t sell them and they can`t keep them. Cities are ordering abandoned homes to be finished/retrofitted or be demolished (as is the case in Detroit) and the second option is usually cheaper for the bank, in the short term anyways.

What happens to some of these homes in some neighborhoods is that it becomes too much of an epidemic and you have gutted homes with fixture, piping and wiring stripped for parts and people squating, this is why the cities order them fixed or demolished. Its sad really.

DingoDango : LVL 51: VP 5: said:

DingoDango

1 votes NegativePositive

207 days 8 hours ago...

squatter`s rights!

whackman : LVL 32: VP 4.1: said:

whackman

8 votes NegativePositive

207 days 3 hours ago...

what a waste of resources. however it is the banks fault for giving people huge amounts of loans to people who cannot afford to pay them off.

Those houses looked huge compared to some over here in Australia, is that the normal house size?

Tada : LVL 43: VP 5: said:

Tada

11 votes NegativePositive

206 days 21 hours ago...

i don`t see why this is such a big deal, this kind of thing happens all the time, even in good economic times. Lots with UNFINISHED houses on them are usually harder to sell than clear lots. The bank obvious figured that the cost of clearing the house is smaller than the increase in the profit when selling the clear lot compared. Simple economics.

Also from a Keynesian perspective destroying the number of vacant houses is good since it leads to the supply of avaliable houses becoming smaller which leads to an increased price since demand will stay the same. Sure it`s wasteful as a motherfucker but when times are dire, people will do almost anything as long as it means they won`t go bust.

erico : LVL 40: VP 4.8: said:

erico

6 votes NegativePositive

206 days 19 hours ago...

whackman, looks to me to be about normal house size you find in a North American subdivision. According to the US Census Bureau, the average size of a US home as of 2006 is 2,469 square feet. These look slightly larger at between 2500-3000 square feet.

Sir spanks-a-lot : LVL 40: VP 4.8: said:

Sir spanks-a-lot

-4 votes NegativePositive

205 days 12 hours ago...

it is the local government`s offices fault, for trying to squeeze every dollar they can out of whoever they can.
they coiuld easily home a few families in there while they get back up on their feet...
it`s everywhere... you can`t trust a branch because the other branch is also trying to survive.

Omnious : LVL 37: VP 4.5: said:

Omnious

3 votes NegativePositive

205 days 11 hours ago...

Are you kidding me...those houses are HUGE. Makes sense to demolish them though, who would want to live in a neighborhood that`s undeveloped.

Cahu : LVL 39: VP 4.7: said:

Cahu

-2 votes NegativePositive

205 days 11 hours ago...

This is sad

JimCarrSavannah : LVL 37: VP 4.5: said:

JimCarrSavannah

14 votes NegativePositive

205 days 11 hours ago...

^ Sad? ^
More like crimes against humanity.
Hundreds of thousands of homeless people across the nation.
But they`re tearing down brand new McMansions because their ain`t enough Yuppies left to purchase them all.
A whole new kind of fucked up.

JimCarrSavannah : LVL 37: VP 4.5: said:

JimCarrSavannah

15 votes NegativePositive

205 days 11 hours ago...

^ "Are you kidding me...those houses are HUGE. Makes sense to demolish them though, who would want to live in a neighborhood that`s undeveloped." ^

Err,... I don`t know dude, perhaps some Vet whose currently living in a cardboard box?!?

erico : LVL 40: VP 4.8: said:

erico

8 votes NegativePositive

205 days 9 hours ago...

^how do you know?

dilated : LVL 35: VP 4.3: said:

dilated

0 votes NegativePositive

205 days 8 hours ago...

at least it`s not going to become a crack house

JimCarrSavannah : LVL 37: VP 4.5: said:

JimCarrSavannah

4 votes NegativePositive

205 days 8 hours ago...

Gee "Hellrazor".
I feel so well informed now!
Great to hear yet another stupid opinion you pulled out of your ass.

Get involved in your community, learn who the homeless are and how they got there before you spout off at the mouth anymore and continue to prove your ignorance. The actual statistics will surprise you, but you are so off base it is comical.
Don`t take my word for it. Get off your ass and go look into it. There are plenty of community groups who deal with this shit in your area and they can give you the local numbers.
You have my permission to grow the fuck up now.

MANWHORE : LVL 35: VP 4.3: said:

MANWHORE

12 votes NegativePositive

205 days 4 hours ago...

"who would want to live in a neighborhood that`s undeveloped."

Me!

peace and quiet, not annoying small dicked race drivers racing up the road every 2 minutes, no annoying dogs barking or load music from neighbours, plenty of room to do whatever the fuck you want, sounds like bliss to me!

Bluelight83 : LVL 32: VP 4.1: said:

Bluelight83

8 votes NegativePositive

205 days 3 hours ago...

"More like crimes against humanity.
Hundreds of thousands of homeless people across the nation.
But they`re tearing down brand new McMansions because their ain`t enough Yuppies left to purchase them all.
A whole new kind of fucked up."

So we should donate them to the homeless?

How about they donate them to me? I work, I have a job, I didnt get in over my head. Whats my reward?

Oh yeah, nothing.

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