MMC
04-10-2012, 07:43 AM
American taxpayers own close to 200,000 vacant houses, and over the next year they will spend more than $40 million just to mow lawns at these properties. Taxpayers also foot the bills to paint walls, fix cabinets, plant flowers and more -- expenses that just last year, exceeded a half a billion dollars.
The housing bailout has already cost taxpayers $124 million, now Americans are spending hundreds of millions more fixing up foreclosed homes to try and sell them. It is a bizarre and expensive side effect of the housing market collapse and failure of Fannie Mae and Freddie Mac, the mortgage giants that went into federal conservatorship in 2008.
Fannie Mae alone repaired nearly 90,000 homes last year.
We've got to get the government out of the housing market, the mortgage market," said Guy Cecala, CEO and publisher of Inside Mortgage Finance Publications. "That's very difficult to do when the housing market is on its knees.....snip~
http://news.yahoo.com/blogs/power-players-abc-news/taxpayers-pay-millions-mow-lawns-foreclosed-homes-100514058.html
Shouldn't we start changing the way we build? For as much as these two Giants say they are maintaining homes on foreclosed properties. There sure is a whole lot of abandonbuildings and homes around the Midwest. Especially with Detroit and Chicago. Again two Democratically Led City and State governments.
I think it has cost us more than 124 million. Still there are things people can do to increase the values of their homes. How come the gov doesn't want to put that information out there?
The housing bailout has already cost taxpayers $124 million, now Americans are spending hundreds of millions more fixing up foreclosed homes to try and sell them. It is a bizarre and expensive side effect of the housing market collapse and failure of Fannie Mae and Freddie Mac, the mortgage giants that went into federal conservatorship in 2008.
Fannie Mae alone repaired nearly 90,000 homes last year.
We've got to get the government out of the housing market, the mortgage market," said Guy Cecala, CEO and publisher of Inside Mortgage Finance Publications. "That's very difficult to do when the housing market is on its knees.....snip~
http://news.yahoo.com/blogs/power-players-abc-news/taxpayers-pay-millions-mow-lawns-foreclosed-homes-100514058.html
Shouldn't we start changing the way we build? For as much as these two Giants say they are maintaining homes on foreclosed properties. There sure is a whole lot of abandonbuildings and homes around the Midwest. Especially with Detroit and Chicago. Again two Democratically Led City and State governments.
I think it has cost us more than 124 million. Still there are things people can do to increase the values of their homes. How come the gov doesn't want to put that information out there?