Inquiring minds are watching a pair of videos from Southern California. Allegedly, banks acquired brand new homes in foreclosure processes, the homes were not quite finished and the banks razed these homes rather than fix code violations.
Extreme Home Makeover Depression Edition Part 1
Extreme Home Makeover Depression Edition Part 2
There you have it. Brand new nearly completed homes have a negative value because of regulations and are therefore destroyed.
Addendum
From "Vision Victory" ...
THANK YOU so much for posting my videos about the homes being destroyed in Victorville CA. The exact location for your records is in the city of Victorville off Bear Valley Road and the 395.
It was in the local paper, but they chose not to put it on their website, which is NOT normal. So right now the videos are the only story out there.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List
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