In Bank Demolition Echoes of the Great Depression (Emily Friedlander, Wall Street Journal)
May 6, 2009
Emily Friedlander raises many interesting points.
In an image that echoes scenes of the Great Depression, a Texas bank has just finished up demolishing 16 new and partially built houses it acquired in Southern California through foreclosure. The bank determined that wrecking the homes was more cost-effective than finishing and selling them.
Advertisement
