US banks are foreclosing on crappy, formerly overpriced sub-prime housing and then not taking title to it, in order to avoid the taxes. This could create suburban abandoned zones of boarded-up houses,where the local tax-base is depleted, undermining schools and services.
The local market conditions are what seems to determine the abandonment decision. In a region where the job and real estate market is doing anything better than "a little soft," I would surmise that abandonment makes no sense at all.
However, at a certain point, in a weaker region, with declining neighborhoods, certain lenders might make the decision to simply walkaway from a large swath of (potential) real estate holdings, on the simple basis that it might be cheaper to do so.
Maria Farrell admits that comparing smartphones to abusive men (they try to keep you from friends and family, they make it hard to study or go to work, they constantly follow you and check up on you) might seem to trivialize domestic partner violence, but, as she points out, feminists have long been pointing out […]
Trump wants to roll back regulations that promote low-power light bulbs, even though at this point the industry has moved on and isn’t likely to do much in the way of modernizing incandescents. His interest is, as always, deeply personal: he thinks LED lights make him look orange. “The light bulb,” the president began. “People […]
The wonderful folks at Paleotronic (previously) have rounded up scans of articles from 1980s-era computer magazines that advised new computer users on navigating the burgeoning world of dial-up BBSes.
Breaking into the big leagues as a project manager isn’t done overnight, but there are principles that anyone can learn, and they’re applicable to nearly any business. No matter what your field, if there are multiple teams working toward a common goal, you’re going to need a roadmap. The Project Management Professional Certification Training Suite […]
On the one hand, nostalgia is “a corruption of the historical impulse,” according to William Gibson. On the other hand, “Super Mario Bros.” will never not be cool. Luckily, there’s a way to satisfy that retro gaming while still keeping an eye on the future: The GameShell Kit. This thing is simultaneously the last handheld […]
The field of data analytics can get intimidating, even for business professionals who constantly rely on it. But at its heart, its purpose is to simplify. To take mounds of information and distill their insights into a single clear picture. Currently, the go-to software for painting that picture is Tableau. And if you want to […]