wkmac
Well-Known Member
I read this blog at Lew Rockwell posted by Thomas Woods, author of Meltdown.
When I saw his comment about demolition of excess homes I decided to Google it since he offered no link, etc. to back up the comment. In Google I typed in "demolish excess homes" and hits the very first link.
Banks Demolish New Houses
Since the houses are gonna be total write offs, I can think of several ideas for these homes other than to just be torn down but then selling these homes at or below actual costs would effect surrounding home prices and mostly would effect tax property appraisels going forward and thus potentially lower the tax reciepts to the gov't! Another reason the gov't has it's central planning hand where it shouldn't and thus another incentive to not only foster booms but to keep them going even when they are false!
When I saw his comment about demolition of excess homes I decided to Google it since he offered no link, etc. to back up the comment. In Google I typed in "demolish excess homes" and hits the very first link.
Banks Demolish New Houses
Since the houses are gonna be total write offs, I can think of several ideas for these homes other than to just be torn down but then selling these homes at or below actual costs would effect surrounding home prices and mostly would effect tax property appraisels going forward and thus potentially lower the tax reciepts to the gov't! Another reason the gov't has it's central planning hand where it shouldn't and thus another incentive to not only foster booms but to keep them going even when they are false!