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tonytramcar

The New Teardowns

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Report in Time Magazine:

"Banks have a new foreclosure fix: bulldozers. Bank of America is demolishing 100 repossessed homes in Cleveland and donating the land to the city. Similar deals are being struck elsewhere. Fewer homes might revive prices, says economist Thomas Lawler. "It's the right thing to do "

Could it happen here ?

http://www.time.com/time/magazine/article/0,9171,2086902,00.html

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Report in Time Magazine:

"Banks have a new foreclosure fix: bulldozers. Bank of America is demolishing 100 repossessed homes in Cleveland and donating the land to the city. Similar deals are being struck elsewhere. Fewer homes might revive prices, says economist Thomas Lawler. "It's the right thing to do "

Could it happen here ?

http://www.time.com/...2086902,00.html

Did you not hear of pathfinder?

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Yes, lets tear doen all te homes in the UK then we can all live in tents and caravans which you are not allowed to park anywhere,

In a few years people will be living in caper-vans driving around the M25, taking it in shifts to keep the van moving because there is nowhere else to live.

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Cleveland is an old rust belt town, so most likely theyre wrecks that will get looted, arsoned, become drug dens etc.

When they start bulldozing these new ghost estates in California/Arizona/Nevada, perfectly livable places, then i'll hold my head in my hands.

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Cleveland is an old rust belt town, so most likely theyre wrecks that will get looted, arsoned, become drug dens etc.

When they start bulldozing these new ghost estates in California/Arizona/Nevada, perfectly livable places, then i'll hold my head in my hands.

I hadn't heard of the 'rust belt' till earlier today when I searched google for 'manufacturing by region'.

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Cleveland is an old rust belt town, so most likely theyre wrecks that will get looted, arsoned, become drug dens etc.

When they start bulldozing these new ghost estates in California/Arizona/Nevada, perfectly livable places, then i'll hold my head in my hands.

Yes, places with many more houses than people and no work to encourage more people to move there. From a financial perspective, the banks want to get rid of the houses as the property tax liability gives them essentially negative value. From a city planning perspective, the local government wants them flattened to get rid of the crack-house problem.

This sort of thing was going on before the financial crisis too from what I recall.

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Report in Time Magazine:

"Banks have a new foreclosure fix: bulldozers. Bank of America is demolishing 100 repossessed homes in Cleveland and donating the land to the city. Similar deals are being struck elsewhere. Fewer homes might revive prices, says economist Thomas Lawler. "It's the right thing to do "

Could it happen here ?

http://www.time.com/time/magazine/article/0,9171,2086902,00.html

Why not donate it back to the Native Americans instead?

Such donations would not happen here, as we're such a bunch of Celts.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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