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View Diary: Housing Crisis, Potential Recession Loom Large in Battleground States (174 comments)

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  •  They'll take what the market will bear. (2+ / 0-)
    Recommended by:
    vox humana, wa ma

    If the new renters in the area don't have money to rent at the demanded price, the new bank-owners will have to lower the price until they can find a renter to pay it.

    Either that or keep the properties sitting vacant like millstones around their necks, making no earnings at all while still generating property taxes and upkeep costs. Half the cash flow is a wiser business choice than none.

    The invisible hand of the market at work. It doesn't always operate to choke the poor.

    "...And I woulda got away with it, if it hadn't been for that meddling Kos!" ---attributed to Tom DeLay

    by AdmiralNaismith on Tue Nov 27, 2007 at 10:29:36 AM PST

    [ Parent ]

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