Models homes being demolished by banks

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Vendaval -> Models homes being demolished by banks (5/6/2009 1:27:18 PM)
Models homes in the California desert being demolished by the bank rather than provide security since the builder is bankrupt. [&:] http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=13325340&ch=4226714&src=news

Louve00 -> RE: Models homes being demolished by banks (5/6/2009 1:33:27 PM)
I saw that on the news last night. What a huge waste! I also saw on the news how some people are just walking away from their mortgages...watching people in the same neighborhood buying homes comparable to theirs for a whole lot less than what they're paying on theirs. Complete insanity.

sappatoti -> RE: Models homes being demolished by banks (5/6/2009 1:40:29 PM)
I can't seem to find the video clip of the local news story from about a month ago but... One condo development, completely built-out but with very few owners, went to auction where each unit was put up on the block. Instead of selling for the asking price of around $200,000 US, the units were being snapped up anywhere from $20,000 to $50,000 US. That's not so surprising. What was surprising was that the development's on-site manager, who bought one of the units for the full price when they were new walked out on his existing mortgage and unit. He found someone else (though not explicitly mentioned in the story) to front him enough cash so he could be another unit at the auction for dirt cheap, and he's now living in the new unit. He's being foreclosed on his first unit, but he really doesn't care since the one he's currently residing in is free and clear. That's an example of someone who's playing the game. Whether that's the right thing to do or not is a personal moral issue for each to decide, but apparently he did nothing against the law. Though I wonder what his credit will be like with a foreclosure against it.

kittinSol -> RE: Models homes being demolished by banks (5/6/2009 2:38:20 PM)
On a tangent, it's got to be said that building in the desert... building out of the way... building in the middle of nowhere: ALL these should be abandoned. Today, it's insane to build far away from resources such as water and transport and to overextend natural resources. I hope the era of the selfish McMansion is over.

DemonKia -> RE: Models homes being demolished by banks (5/6/2009 3:04:54 PM)
FR I've come to see that many of you who post here (& this seems, to me, to apply to those above in this thread) are fairly 'savvy' . . . . . So I have one observation I'd like to share on this topic . . . . . I'd like to see a 'residential bedrooms per capita' statistic . . . . . . I've been looking & I haven't found it, but it would seem to be a terribly pertinent data-point to collect . . . . Wouldn't be all that hard to gather, either . . . . . . Cuz, ya know, if the ratio of residential bedrooms per capita in the US is greater than, say, two (that is, there are more than two residential bedrooms per person in the US) I'd be tempted to see that as meaning we've built 'too much' residential capacity . . . .. . & if the ratio was under one, we'd be under-built, probably . . . . . . & if it was, say, as high as 3 bedrooms for every man, woman, & child in the US, that would seem to be evidence that we've way, way over-built . . .. .. & I find it absolutely fascinating that this relatively simple measure is not 'gathered' & disseminated . . .. . . & I figured that some here might find this a useful context for thinking about the current 'housing crisis' . . . . . . .

Louve00 -> RE: Models homes being demolished by banks (5/6/2009 3:24:51 PM)
quote: ORIGINAL: kittinSol On a tangent, it's got to be said that building in the desert... building out of the way... building in the middle of nowhere: ALL these should be abandoned. Today, it's insane to build far away from resources such as water and transport and to overextend natural resources. I hope the era of the selfish McMansion is over. I'll sooooo agree with you on that tangent (which doesn't discount the waste), and while we're talking about where to build...I've never figured out just what makes people build their houses along a beach. Like they do down here in Fla, in NC, and so many other places so vulnerable to hurricanes, erosion and what have you. I also can't figure out for the life of me, why they built a city in a fish bowl. New Orleans would be under water naturally, were it not for the dams and barriers keeping the water out. A great city...but a disaster waiting to happen, and has proven that once just recently.

pahunkboy -> RE: Models homes being demolished by banks (5/6/2009 3:27:28 PM)
LOL. they stole this from George for title on youtube!!!! I know I seen George do the original report. I am going to email him. Last I heard he was in Mexico City checking out the flu. SHAME ON ABC!!!!!! SHAME!! Those intellectual pirates! http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=13325340&ch=4226714&src=news

kittinSol -> RE: Models homes being demolished by banks (5/6/2009 3:39:06 PM)
Yep. Time for some properly planned building policy.

thornhappy -> RE: Models homes being demolished by banks (5/6/2009 6:01:13 PM)
quote: ORIGINAL: kittinSol On a tangent, it's got to be said that building in the desert... building out of the way... building in the middle of nowhere: ALL these should be abandoned. Today, it's insane to build far away from resources such as water and transport and to overextend natural resources. I hope the era of the selfish McMansion is over. That's not out in the middle of nowhere; Victorville's a pretty good size city.

BKSir -> RE: Models homes being demolished by banks (5/6/2009 6:03:00 PM)
sigh As Habitat For Humanity shits itself. What the hell is wrong with these people?

sappatoti -> RE: Models homes being demolished by banks (5/6/2009 6:10:44 PM)
I agree BK. As I watched the story about how the banks would rather destroy those houses than donate them, either as residences for the homeless families or by dismantling them in such a fashion as to reuse those almost new materials, I was appalled at the lack of creativity in their solution. It just boggles my mind to see that in some areas, the banks are willing to tear down fully completed new homes, yet in other areas the banks are spending a lot of money trying to find buyers for homes that should be torn down because of the amount of their age and level of disrepair. I understand it's a business move, pure and simple. But come on... those new homes could have been used for the very reason they were built.

MasterG2kTR -> RE: Models homes being demolished by banks (5/6/2009 6:11:50 PM)
One of the real kickers is that the bank doing received bailout funds so "WE" are paying for that. It also seems to me that they could have cut the price in half and still come out ahead as opposed to demolishing the homes. I also agree with BK, that they could have donated them to habitat for humanity and used it as a write off. Apparently banking and common sense do not go hand-in-hand.

PanthersMom -> RE: Models homes being demolished by banks (5/6/2009 6:21:52 PM)
there was an article in our local paper that said something about the cleveland area being the forclosure capital of the nation. not sure i believe that, but i do know that in a housing market like this one there are alot of ppl up in arms over home values here. my neighbors paid 150k for a house around the corner when it was first built. this is less than five years ago. last year the house on the opposite corner sold for 26k. while our neighborhood has a mixture of old and new construction, the disparity between home values is alarming. homes of equal size are going for 1/2 of what my neighbors paid for theirs, even with bigger lots. PM

TreasureKY -> RE: Models homes being demolished by banks (5/6/2009 6:40:30 PM)
quote: ORIGINAL: kittinSol Yep. Time for some properly planned building policy. sighs And while we're at it, we might as well go all out. No need for people to worry about running their own lives... the government can manage it all. Why, with the proper planning and legislation, there would be no disparity in education, no overpopulation, no divorce, no lack of workforce... no problems in any area. We could tell people what jobs they will do, where they will go to school and what they will study, who to marry, how many children they can have, where they will live, how they will worship (or not), what they can own... heck, if we legislated what people eat and how often they exercise, we could have a very healthy population, too... Imagine all the people ... Living life in peace ... [:'(]

kittinSol -> RE: Models homes being demolished by banks (5/6/2009 6:45:34 PM)
John Wayne is dead.

TreasureKY -> RE: Models homes being demolished by banks (5/6/2009 7:04:35 PM)
quote: ORIGINAL: kittinSol John Wayne is dead. John Wayne? lol... Do you mean John Lennon? The author of the song "Imagine"? If you do mean John Wayne... the actor and man who "epitomized rugged masculinity ... famous for his distinctive voice, walk and height ... also known for his conservative political views" ... Then I'm afraid your most recent attempt at a sardonic comment wrapped in a pithy post has lost me. [;)]

kittinSol -> RE: Models homes being demolished by banks (5/6/2009 7:06:00 PM)
quote: ORIGINAL: TreasureKY Then I'm afraid you've lost me. [;)] Excellent: my goal, precisely.

TreasureKY -> RE: Models homes being demolished by banks (5/6/2009 7:07:00 PM)
quote: ORIGINAL: kittinSol quote: ORIGINAL: TreasureKY Then I'm afraid you've lost me. [;)] Excellent: my goal, precisely. lol... So you screwed up but don't want to admit it. Got it.

kittinSol -> RE: Models homes being demolished by banks (5/6/2009 7:10:46 PM)
Either you got the cultural reference, or you didn't.

TreasureKY -> RE: Models homes being demolished by banks (5/6/2009 7:27:08 PM)
I'm familiar with the cultural reference... where "John Wayne is dead" is used as a euphemism for saying that we now live in a world of pansies. I just have no idea why you think it is relevant to my comment. If there's some other reference, then I am unfamiliar with it. Since you seem resistant to elucidating, I think I'll just stick with you having screwed up. [;)]

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