related linksRead more about foreclosures
FIND YOUR DREAM HOME OR APARTMENT
must-see on msn
Just what does that mean? The courts cannot find the people that are the real owners relatives. It is outside their states of residence. They condemned it and scammed the real property owners out of their inheritances. The IRS says you have to pay them first, but your only equity in said property cannot change hands to pay them with. Perfectly logical. Just sleep on the streets and pray that they do not bust you for vagrancy because they do not want to use their discovery so shrink their own cash flow.
The quality of those $500 K - $million dollar houses which were sold, The Mc Mansions - were all about glitz, shine and hardly anything else. They were built by speculator who gamble on blaming their clients with Glamorous appliances - yet hired the cheapest labor they could get (legally or illegally). Many, if not most of them - were found to be defective within months of the new home owner moving in. Ground was not properly compacted, the roofs were put together at a factory, in some backwoods county or sometimes shipped in from some other country. here we are less than 10 years later for some of those homes... and they have warped rafters, cracked or cracking floors and foundations ... and all those beautiful plantings? - they died because of the water shortages, predicable when you put Million dollar houses close to small towns which have limited tax base, no reserves and the homes were purposely built outside of he city limits.
Its not that the homeowners deserve all the blame - the builders / developers deserve a lot of the blame for building attractive nuisances.
Buyers would have been smarter to buy older homes - in the city than to buy those cracker barrel sub-standard homes 30, 40, or 100 miles from where they work. Now they can't sell them because they can't afford the commute cost, have lost those get-rich-quick "Hi-tech start-up" jobs and even worse - there are no businesses, jobs or services in those Ghost town developments.
Like copy cats ... China and Brazil followed the same pattern. some the hi-rise 10, 20 story apartments surround Beijing have been empty since they were built - 10 years ago - its likely they will need to be demolished (from shoddy workmanship) before any large number of owners ever move in... the purchaser never intended to move-in, they were just speculators. Now that the gullible are starting to think. No one is taking the bait, Maybe the State will use them to house all the carpet baggers who are flocking to China ....following the - Fast money dream?
What seems like a paradox - every time you turn around, there is a news article about some card carrying Red state imbecilic hose and tank brigade, who is against not only abortion, but sex-education, condoms, yet are encouraging implants...pay for education Charter school... yet the parents are either indigent now, living with grand parents or employed at Wal-Mart, Target, 7-11 or some fast-food franchise. You ay house prices are outrageous - but never condoms these red state sponges?
How can you blame the home owners, who are looking to move to an affordable state with jobs (think Blue state) which pays a living wage... yet celebrate all these 2, 3, 4,6 -8 births by artificial insemination.
May you Texan could understand why God decided those folks needed to shoot blanks! The thing about foreclosed property is.... at one time those people did work for more than minimum wage, took a chance on going for an education above a mere GED or CC. Isn't that the republican ideal? - that a man should take a chance on his own labor, ambition? These sponges didn't and yet most of them breed like immigrants. I see a lot of brand-new $40K, $50K pickup trucks - filling up at the second harvest food bank... and inner city / Urban folks DON"T buy trucks - to go cruising through the "Hood" or the Barrio. ....Go figure!
I own homes in two of the five cities... there may still be vacant housing in Fort Lauderdale, but there's a real estate boom going on there now. My condo looks out at a new high rise going up that had been mothballed during Dubya's crash, back in 2008/09. Prices in my complex have doubled in the three years since I bought in. re: NYC, here in Brooklyn, prices never collapsed like they did in some other places, and have now surpassed their 2008 highs... our neighborhood realtor complains she doesn't have enough inventory to sell.
This article leaves the mistaken impression that the real estate markets in both cities are in a state of crisis, far from the case today.