articles from this week related to foreclosures:
"No Sale: Bank Wrecks New Houses" = Wall Street Journal - notes videos put on web of houses being torn down in Victorville, CA. Guaranty Bank of Austin is wrecking homes to provide a "safe environment" for neighbors of an abandoned housing tract. The bank told city officials that the cost of finishing and marketing the properties would exceed what they could be sold for.
Link to one of the (sensationalized) videos: http://is.gd/x5hn. Link to the WSJ article, which also has video links: http://is.gd/wTpz.
"Foreclosure Trouble Spreads to Those Who Bet the Farm" - in the Wall Street Journal - the foreclosure crisis is not just an urban / suburban problem, although not as severe in rural communities. "Since the peak, values have dropped 13% in rural areas and 23% in urban areas, according to Moody's Economy.com." To see the entire article, go to http://is.gd/x4Uc.
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