Banks turn to demolition of foreclosed properties to ease housing-market pressures
http://dervishcom.blogspot.com/2011/10/banks-turn-to-demolition-of-foreclosed.html
The sight of excavators tearing down vacant buildings has become common in this foreclosure-ravaged city, where the housing crisis hit early and hard. But the story behind the recent wave of demolitions is novel — and cities around the country are taking notice.
A handful of the nation's largest banks have begun giving away scores of properties that are abandoned or otherwise at risk of languishing indefinitely and further dragging down already depressed neighborhoods.
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Source: http://feeds.washingtonpost.com/click.phdo?i=ead6a0703ab70e209df515fc4c5b9e28
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