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Why Aren’t More Foreclosures Being Put to Good Use?

I have to say, it’s sickening to see all the home foreclosure signs around, knowing darn well that empty, inhabitable space is just sitting around, doing nothing – essentially just taking up space, demanding lawn mowing and grounds keeping, and basically putting a drain on power supplies without any humans in it.

If it’s not people worrying about the values of their homes going up or down in 2012, but many people are still in very real struggles to keep their homes right now and there is a lot of vacant inventory on the market, just sitting there.

It’s darn wasteful, even if you’re no tree hugger, if you think about it.  It’s empty space that could be used to house human beings.  Whether it is people who don’t have homes (used as a sort of homeless shelter) or whether it’s for people renting who have lost their homes to foreclosure and now need to rent – why not put the real estate to good use?

I’m really a frugal person by nature. Even if I didn’t have to be, which incidentally I actually do have to be now, I would still be extremely cognizant of what I am spending and whether it’s something that is truly needed or not.

To me, if I were the banks with these foreclosures, I would rent more of them out until I figured out what I was going to do with them. Or why not rent them out until the housing market really starts a sustainable recovery, then put them on the market for sale?

Or why not just offer the current homeowner, who apparently cannot afford them house payment, a reduce “rent” payment, effectively sacrificing their equity in the home for the privelege of staying in the home at a much reduced price?  I know there would be a lot of red tape on this type of workaround, but hey, when you’ve got as much inventory on the market as most banks do when it comes to foreclosed homes, you have to really start thinking outside of the box.

And speaking of the banks, how the heck are they all bouncing back so nicely with all the foreclosures on their books? It’s awfully suspect if you ask me.  I’m not sure if it’s the government bailouts or what happened as far as how they got back in the black again, but it seems like there should have been a more sustained pain for the banks, and they seem to be doing just fine again.

If you have other good ideas of what banks can do with these foreclosed homes, post them here. I’m sure there’s some sort of huge business opportunity in this – somewhere – for the right person to pick up on.

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