No Man’s Land and I Don’t Want It

In a post titled Collective withdrawl, Mike Soja brings to our attention two developments in regards to abandoned and foreclosed homes.

First, in regards to the abandoned homes, specifically in Flint, MI, we learn this.

Property abandonment is getting so bad in Flint that some in government are talking about an extreme measure that was once unthinkable—shutting down portions of the city, officially abandoning them and cutting off police and fire service.

If put into effect, this would effectively create a no man’s land, a possible rootin’ tootin’ wild west.

Off-the-cuff suggestion prompts discussion on what to do with abandoned neighborhoods in Flint

Secondly, in regards to foreclosed homes, evidently more and more banks are simply walking away from foreclosed properties.

City officials and housing advocates here and in cities as varied as Buffalo, Kansas City, Mo., and Jacksonville, Fla., say they are seeing an unsettling development: Banks are quietly declining to take possession of properties at the end of the foreclosure process, most often because the cost of the ordeal — from legal fees to maintenance — exceeds the diminishing value of the real estate.

Just another effect of a burst bubble.

Banks Starting to Walk Away on Foreclosures

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