Banks demolish forclosed homes to ease housing market pressures

demolition

It has become cheaper for banks to demolish forclosed property than to continue to hold onto it.

The sight of excavators tearing down vacant buildings has become common in the foreclosure-ravaged city of Cleveland.  The housing crisis hit this area early and hard. But the story behind the recent wave of demolitions is novel — and cities around the country are taking notice.

 

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Banks turn to bulldozing foreclosed homes

bulldozer_house

Banks are turning to demolition teams instead of realtors to rid them of their least valuable repossessed homes.

Bulldozers are a new remedy for banks in America’s ailing housing market.

There are nearly 1.7 million homes in the U.S. in some state of foreclosure. Banks already own some of these homes and will soon have repossessed many more. Many housing economists worry that near constant stream of home sales from banks could keep housing prices down for years to come. But what if some of those homes never hit the market.

 

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Britain’s Housing Market is Benefiting from Not Being in the Euro

Distinctive_neighbo

Britain is not a player in the Euro

Overseas buyers are investing in expensive properties, primarily in London, rather than putting their money in more “vulnerable” euro zone areas, they said.  A total of 17 per cent more estate agents reported a rise than a fall in house prices last month, up from 9 per cent in March, according to the Royal Institution of Chartered Surveyors.

 

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Amazing Tree House Hotels

Cedar Creek Treehouse

Cedar Creek Treehouse

From the Swiss Family Robinson’s massive forest hideaway to the Berenstein Bears “No Boys Allowed” backyard version, tree houses have an appeal all their own: they’re private, they get the best breezes, and you’ll see birds, bugs, plants, and animals that you’d never come across on the ground. The owners of these tree house hotels also have an unsurprising passion for the environment, using reclaimed wood, low-energy devices, and natural soaps on their properties. (Pics)

 

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