New homes demolished

[debilorrah]

Quote:
If they were the ones near me demolished this week, the economy here is so bad they are better off to sell the land than finish the houses and TRY to sell them to break even.

 

[debilorrah]

http://www.vvdailypress.com/news/demolished-12162-homes-new.html

This is the article about the ones demolished here locally. Vandals and squatters had all but ruined the abandonded construction....

 

[Rusty Hills Farm]

Then there is the reality that there are about 9000 unfinished homes in that area. By demolishing them all, they bring down the total number of homes available for sale by a considerable number. That in turn should help stabilize or even raise the values of existing structures. That helps home owners who need to sell to get a better value for their homes so that maybe they won't lose quite so much when they do sell. Obviously this is not going to "fix" that local housing market, but personally I'd rather see a bank take the big loss and see the homeowners in that area take the smaller one.

JMO


Rusty