DOOMED Kansas City Real Estate Scheme
KMBC and another misguided local government market making effort: "Private rehabbers are teaming up with a Kansas City legal group, local government and neighborhood leaders to acquire abandoned homes and get them ready to sell at low prices for cash-strapped buyers."
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4 Comments:
At least they're doing something. I say give it a shot, it can't be any worse than what they have done so far.
Agreed, better to have low income tenants than to have empty, rotting houses.
This is exactly the kind of public/private cooperation we should be celebrating.
Seems to me that this is a win for everybody. Bank of America and Wells Fargo can write off foreclosed properties they can't possibly sell as is, and that reduces the cost of rehabbing and selling them later, or even condemning and demolishing the houses that can't be saved.
So what is the problem with this idea?
b.s. - It won't work and is really just an excuse for the city to pay off their favorite contractors.
it's government corruption in the making and in plain sight.
Go buy a clue people.
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