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Old 09-08-2009, 11:30 AM
 
Location: Raleigh, NC
9,059 posts, read 12,928,498 times
Reputation: 1401

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Your childrens' money hard at work.


YouTube - BAIL OUT BANK DEMOLISHES NEW MODEL HOMES- HOUSING MARKET COLLAPSE
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Old 09-08-2009, 11:42 AM
 
Location: Sinking in the Great Salt Lake
13,139 posts, read 22,707,159 times
Reputation: 14115
This has been put on the forum before, but I say good riddence. That trash should have never been put up to begin with.

It says something about our world though when the bank will write you a mortgage you can't possibly follow through on, forclose on you and kick you out onto the street, then tear the house down rather than just write off the loan. Banks are twisted evil stupid.
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Old 09-08-2009, 12:18 PM
 
Location: Raleigh, NC
9,059 posts, read 12,928,498 times
Reputation: 1401
Good riddence? A family could've lived in that home if the bank wasn't bailed out, thereby funding the home's destruction. Destroying homes to keep prices inflated is more Keynesian retard "economics" at play.
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Old 09-08-2009, 12:24 PM
 
Location: Sinking in the Great Salt Lake
13,139 posts, read 22,707,159 times
Reputation: 14115
Quote:
Originally Posted by ViewFromThePeak View Post
Good riddence? A family could've lived in that home if the bank wasn't bailed out, thereby funding the home's destruction. Destroying homes to keep prices inflated is more Keynesian retard "economics" at play.
Look into it. They weren't livable, they had been vandalized and robbed of copper plumbing and wiring. They were also very poorly constructed to begin with and didn't meet code. The county was making the banks fix them, but it proved more cost effective to just tear them down. But, yea, the common man is being screwed just the same.
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Old 09-08-2009, 01:03 PM
 
31,387 posts, read 36,897,598 times
Reputation: 15037
Quote:
Originally Posted by ViewFromThePeak View Post
Good riddence? A family could've lived in that home if the bank wasn't bailed out, thereby funding the home's destruction. Destroying homes to keep prices inflated is more Keynesian retard "economics" at play.
Besides Chango's points regarding the livability of these homes how does a banks liquidation translate into homes being transfered to new owners?
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