CNBC: Let’s Bulldoze The Foreclosed Homes Because...

04-21-2011 • ZeroHedge.com

CNBC Video | Let’s Bulldoze The Foreclosed Homes Because the “Fixtures, the WIFI, or Whatever, Even the Color is Not Going to be Stylish By the Time Someone Buys Them” The shadow inventory of homes in the United States currently stands at 1.8 million units. That's a nine-month supply. Add to that the current 8.6-month supply of existing homes on the market and you can bet home prices will decline further. Some say destroying the homes to get rid of the excess supply is the only way out of this mess. But who pays? Should the government pay to bulldoze abandoned, foreclosed homes to shed excess housing supply? Share your opinion at the CNBC poll here... They'd rather throw people in the streets and bulldoze the homes than work out a solution... Ever think that they might not have clear title to these homes and the only option is to bulldoze? And the fraudclosures continue...