|Mr. Frangos, Mr. Frangos, Tear Down This House|
by possibly noteworthy at 12:25 pm EDT, Oct 15, 2011
No one wants to try to catch a falling knife.
Four years into the housing crisis, the ongoing expense of upkeep and taxes, along with costly code violations and the price of marketing the properties, has saddled banks with a heavy burden. It often has become cheaper to knock down decaying homes no one wants.
[This] grew out of a 2009 state law ... Similar legislation is in the works in Georgia ...
Gus Frangos, president of Cuyahoga County Land Reutilization Corp:
It is the root canal of community development that we're doing, and it's not a quick fix.
Holy shit -- an intelligent, actionable idea!
To be truly challenging, a voyage, like a life, must rest on a firm foundation of financial unrest. If you are contemplating a voyage and you have the means, abandon the venture until your fortunes change. Only then will you know what the sea is all about.