Teddy Towncrier's Web Oasis.

May 5, 2009

There’s legal and then there’s right …. Bulldozing new homes is not right.

Filed under: Uncategorized — teddytowncrier @ 9:18 pm



The world is going to hell in a handcart when banks are destroying new homes.

Thousands of families are squeezed in with parents or unsuitable housing because they’re experiencing a temporary hitch in their life and banks are bulldozing homes.

So “the numbers may not work” for this bank. ….There’s “Legal” and there’s “Right”!   

I don’t have all the facts of this situation but what’s reported in this clip tells me ….. This is far from right!

Want to make your Governor squirm? ….. Ask them why they’re allowing bulldozing of homes when there are so many families in pain?

Take action against this travesty? …. Find your elected representative and give them a piece of your mind.   Start Here.



Ohio businessman won’t hand his home to the bank. … He brings in a bulldozer and gives ’em matchsticks. …. View Here



Tearfully



Teddy Towncrier CPP Towncrier-Media.com Supercharging Your Visions.

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2 Comments »

  1. I just returned from California and I have the same sentiments. It’s really sad.
    When I pressed people for answers, I found out that most of the reasons are economic. Empty, new developments are having a very difficult time selling these beautiful, new homes. Comparable, relatively new homes, in more established neighborhoods are being bought in foreclosure auctions for approximately half the amount new developers are asking, and about one-fourth the original price. Holders (banks and developers) of brand new developments are paying huge amounts in taxes and fees, probably based on the unrealisticly-high prices they are asking for these unsold homes. It is cheaper for them to get out from under these obligations than to sell the homes for the price they could get. And, they also have the problem of who is going to buy the first homes in these completely empty, gated communities. High taxes include real estate, payments on school bonds, utilities, water rights, etc., and they can add up to significant amounts. There are few emigrants to California, as many don’t want to take on these high taxes and fees (and additional taxes on income and personal property). While it’s a great climate and otherwise, a beautiful location–the taxes, fees, and burdens of a state with a $45 billion debt, and current deficit of over $15 billion, which I don’t think includes city, county, local, and HOA debt/deficits, only point to the need for much higher taxes.
    The other problem is social. These developments of California-style mcmansions are often located in areas that have settled communities. These communities have foreclosure problems, but the houses are available for bargain-hunters who can pick up a beautiful 5BR home for about one-fourth the 2007 value; and, their taxes under Prop. 13 are based on what they actually pay for the house, not the previous, higher assessed value. This causes further deterioration in California’s balance sheet. The social reality is that low-income buyers don’t have the cash to participate in auctions, and quite frankly, the existing population of these outer, mostly white suburban counties, do not want low-income neighbors.
    Rather than bulldoze these homes into the ground, why doesn’t the state subsidize low-income buyers and help them realize their dream of a lifetime. The answer is that the state cannot afford it (see above), and the other nearby communities don’t want it. So then, why doesn’t the Federal government do it? Good question, but I think that it is both politically difficult and the Fed can create only so much money before it causes serious inflation.
    Bottom line: The socio-demographics and sour-economy of our country are going to push more middle-class into lower-middle-class, and lower-middle-class into poverty, while the wealthy get wealthier (e.g., “welfare for the rich”); the upper middle class will cling hard to try and preserve their “territory.” The wealthy can weather the storm, and even profit from it.
    James

    Comment by James Gasch — June 14, 2009 @ 1:44 pm | Reply

  2. […] There’s “Legal” and there’s “Right”.    Banks are bulldozing homes as the economic climate pushes tens of thousands of good, hardworking families into inadequate housing:     More Here […]

    Pingback by Moscow, Ohio. Terry Hoskins tries to beat the bank and bulldozes his own home. « Teddy Towncrier's Web Oasis. — February 25, 2010 @ 10:00 am | Reply


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