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CSpec

Video of Bank Destroying Brand New Homes

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Sign of the times...

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What a waste of money, and resources. :nono:

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What a waste of money, and resources. :nono:

Could be a good thing. Destroy the excess inventory and prices might actually stabalize. Once prices stabalize the land alone will probably be worth what the whole house was going for.

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I hear in Vegas and Arizona there are whole tracts of homes that are just sitting vacant because there is no market and since the air is dry and such, they are just sitting on them.

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What a waste of money, and resources. :nono:

Resources, yes, money, no. It's unlikely very much money exchanged hands at all during the course of the building of these home. The banks just used their 'fictional' money.

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Could be a good thing. Destroy the excess inventory and prices might actually stabalize. Once prices stabalize the land alone will probably be worth what the whole house was going for.

"Worth". Value.

Somewhat abstract concepts right now.

But I agree that when things stabilize we'll have a clearer picture of the value of many things, concepts, i.e.: The relative value of our labors.

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