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Originally Posted by lotsofmagnets
like it said in the article, would you like the shuttered up house next to yours to become a crack den or be squatted by ppl hard on their luck?
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I'd rather it be neither. The house should remain shuttered and unoccupied.
There are a couple buildings here in NYC that have been completely boarded up for as long as I can remember. The owners wish to keep it as such as opposed to have to put money into it to bring it up to whatever. Some of them are rather large buildings one the size of a high school, the other a smaller building maybe supports 5-6 families.
If the government would like to start a program or a grassroots organization that raises funds and pays a fee to the bank who owns the property, then I'd be in agreement with it happening. What I don't see is that the bank would allow someone to live in the property for a "nominal" fee which is less than what they could get just by the write downs (I don't when it changed from write offs, but whatever...) and the property staying empty.
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