Topic: Economy, what's left of
I told you WHAT recently? That this economic crisis was a manufactured scam to steal property from people?
HEEEEEER it is!
http://news.yahoo.com/bulldoze-way-foreclose-102000063.html
"Increasingly, it appears banks are turning to demolition teams instead of realtors to rid them of their least valuable repossessed homes. Last month, Bank of America announced plans to demolish 100 foreclosed homes in the Cleveland area. The land is then going to be donated back to the local government authorities."
Defacto asset seizure. Govt was getting tax revenues from the LENDER, now theyre getting NOTHING but a future debt to resell the land (the house is not deeded, the land is) or development costs. Heck, it "costs" to simply go plant GRASS and maintain the property.
They have an interest much greater than either the taxes lost or development costs.
Giant SCAM, Cities/Counties artificially inflated house prices (Govt sets prices, NOT realtors and banks) and now their windfall is coming back, PROPERTY SEIZURES.
EDIT 8/3 topic for a future AHTODJASO - "homeless encampments" on these lands. This cant be done in crumbling, single-family dwellings. Watch and see! It wont be a year.
