One has only to watch the video from CBS News to get the scope of the problem:
The problems encountered with so much vacant housing inventory have more implications than unsightly vacant residences and all they can generate, it also has kept housing prices depressed, made many who purchased them benefit from the bad luck of others and has allowed corporate negligence to proliferate unchecked.
You have to ask yourself: how did the homeowners of the 1930s make it? For the answer to that question, read the informative publication here. The answer to this next question is a lot tougher: Why wasn’t it done in 2008 ?
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Posted in: HOUSING - MORTGAGE
DarcsFalcon
November 9, 2011
I was going to say, not to mention the vagrants and criminal “squatter” element that move into vacant homes.
I feel so bad for those folks, paying over 4k a mo for a home they can’t live in. Sad.
samhenry
November 11, 2011
I could NEVER afford that kind of rent. In fact $1,000 would do me in. I am happy I had funds to pay off my house. I can’t afford rent. Taxes are bad enough.
James Crawford
November 10, 2011
A good book to read before advocating a mortgage moratorium.
The bankers are not without sin, but we should not ignore the political pressures to make bad loans.
samhenry
November 11, 2011
Excellent link, JC. My thanks.
James Crawford
November 11, 2011
Thnx,
I was not certain if it would be polite to post a link on someone else’s blog.
samhenry
November 11, 2011
We are in the business of education and sharing ideas here. Sharing links of all kinds is part of this process. I remain grateful!