[quote=CA renter]Interesting…I also heard that one of the biggest banks has gotten some sort of authorization to hold inventory off the market for five years. They aren’t even going to rent them out, apparently. They are going to board them up and maintain them for five years. [/quote]
It would not surprise me based on history. In the Great Depression 1.0, people were actually paid to knock down homes in order to rid communities of dilapidated properties inhabited by squatters. Plus, it helped reduce inventory.
The modern equivalent that banks are now undertaking is to make homes unavailable – vacant – basically the same thing, assuming the banks can carry the costs. In the Great Depression 1.0, banks went out of business, which rendered that approach moot.
