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The caption says it all here. And the problem is, neither side in the upcoming election will make an issue of the fact that usable housing is being demolished rather than allowing owners to return to buildings abandoned in the foreclosure crisis.
(credit: Michael Williamson/The Washington Post, via Getty Images caption: An apartment building being razed in Cleveland. Under the federal mortgage settlement’s anti-blight provisions, banks get credit for donating, demolishing or forgiving debt on abandoned homes, the last of which is intended to encourage the owner to return. They receive 100 cents on the dollar for each demolition and donation and 50 cents for debt forgiveness.)
Visit BagNewsNotes: Today’s Media Images Analyzed
Babel Realty. How perfect is that?
Slideshow : Occupy Movement Organizes Day Of Action Against Foreclosures In Multiple Cities (Zimbio).
(photo: Spencer Platt/Getty Images caption: Community activists and over two hundred members of the Occupy Wall Street movement rally around a forclosed home during a march in the impoverished community of East New York to draw attention to foreclosed homes in the community on December 6, 2011 in the Brooklyn borough of New York City. The group said they would occupy a home and would hand the property over to a homeless family. In what organizers are describing as a “new frontier” for the movement, thousands of other Occupy Wall street protesters around the country participated in similar actions.)