Quote:
Originally Posted by Saul Good
I was reading yet another article today about how abandoned, foreclosed houses are creating a burden on municipalities. These houses fall into disrepair, and they attract crime. I was trying to think of a solution, and the first thing to come to mind was this:
Could we force the banks to sell the houses within a certain amount of time (one year or so, maybe) following the foreclosure? If they fail to do so, the local government is allowed to auction off the property, collect a fee, and give the rest to the banks.
This would generate revenue for the municipality, clean up the neighborhoods a bit, and help ease the housing glut (albeit by dropping home prices way down).
The banks would take a hit, but I'm not worried about banks that created a lot of this mess in the first place.
Thoughts?
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The banks are desperate to sell these off its just that in most cases there are no buyers.
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Thanks, Trump for the civics lesson. We are learning so much about RICO, espionage, sedition, impeachment, the 25th Amendment, order of succession, nepotism, separation of powers, 1st Amendment, obstruction of justice, the emoluments clause, conflicts of interest, collusion, sanctions, oligarchs, money laundering and so much more.
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