According to an article written by Michael Corkery published in WSJ:
A Texas bank is about done demolishing 16 new and partially built houses acquired in Southern California through foreclosure, figuring it was better to knock them down than to try selling them in the depressed housing market.
Read more here.
Why not let the homeless stay there until you can sell?
BREAKING NEWS on the Housing Front: SHOCKING! Part 1:
BREAKING NEWS on the Housing Front: SHOCKING Part 2:
SHOCKING: EXTREME HOME MAKEOVER-DEPRESSION EDITION PART 3
SHOCKING: EXTREME HOME MAKEOVER-DEPRESSION EDITION PART 4
VICTORVILLE MODEL HOMES DEMOLISHED – SHOCKING VIDEO: Part 5