by pup55 » Thu 11 Aug 2005, 14:46:25
$this->bbcode_second_pass_quote('', 'I') can think of obvious things like 2x4's, copper piping, sinks bathtubs etc. Has anyone ever thought of a good and productive way of stipping a suburb.
Actually, in the famed real-estate S and L catastrophe in the 80's in Dallas, it was not unusal for this to happen.
There were a few instances of people who were going to have their houses foreclosed that moved their furniture out, then they or somebody else ransacked the place for salvageable stuff. It was pretty easy to spot a walkaway situation: papers in the front yard, lawn not mowed for six months, etc. etc.
First to go was all of the expensive stuff: furnace/airconditioner, built-in kitchen stuff, jacuzzi tubs, garage door openers, water heaters etc. Then, overhead lights, ceiling fans, attic fans, and other stuff that could be readily sold more or less as-is. Windows, especially big ones, are also removable and sellable. Also doors.
For awhile, there was actually a kind of secondary market going in used toilets. When the 1 gallon per flush law was in effect, there was a market for the "old type" toilets that could flush in a normal fashion.
Well, you get the picture. If industrious, a couple of guys with a chain saw can get all of the copper and aluminum out of a place in a few hours, even if working at night, if you know what I mean....
Anyway, somebody shows up to foreclose, and the place is a hulk, and the valuable stuff is long gone, and the bank is sad, and hangs the HUD sticker on the front door, if the door is still on there, and life goes on.
Eventually a lot of these places had to be levelled to the foundation and rebuilt when things turned around and got back more or less to normal.