Investors are the answer
232,959 Foreclosed Homes sold at an average 27 percent discount in the first quarter as almost a third of all U.S. transactions according to RealtyTrac Inc.
Over 1 million are currently for sale and another 1 million foreclosed properties will come on the market this year. The important fact that the bank and government doesn’t get, the average family is not the buyer of these properties, it is investors. The investor buys, then spends money on material and labor to improve the property, hopefully to get the value back to normal. Yes, for their efforts, investment and risk, there is a profit. Encouraging this process helps in the following ways:
1. Raises the value of properties in the neighborhood, which reduces further foreclosures
2. Improves the economy by spending money on materials and labor.
3. Improves the Federal Budget by collecting more income tax
4. Reduces the unemployment rate
5. Reduces bank liablilities
6. Reduces inventory of vacant properties for sale
October 6th, 2010 at 11:23 am
the unemployment rate on our country is growing bigger and bigger due to government mismanagement”",
October 20th, 2010 at 5:50 pm
unemployment is of course a socio-economic problem that we must address seriously:~*
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