Comments on: Boston: Abandon A Home, The City Wants You To Pay http://housingdoom.com/2008/02/28/boston-abandon-a-home-and-pay/ "He who defends everything defends nothing." - Frederick the Great Wed, 17 Mar 2010 19:08:22 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Hutch http://housingdoom.com/2008/02/28/boston-abandon-a-home-and-pay/comment-page-1/#comment-13728 Hutch Fri, 29 Feb 2008 03:49:44 +0000 http://housingdoom.com/2008/02/28/boston-abandon-a-home-and-pay/#comment-13728 I almost wish my daughter would go for a degree in Contract Law. It will be decades before all the lawsuits are finished and she could make a nice living at it. Nah...if she went through that Law School brain washing...she'd just wind up a Lawyer. Igor says noidea I almost wish my daughter would go for a degree in Contract Law. It will be decades before all the lawsuits are finished and she could make a nice living at it. Nah…if she went through that Law School brain washing…she’d just wind up a Lawyer.

Igor says noidea

]]> By: dfenstrate http://housingdoom.com/2008/02/28/boston-abandon-a-home-and-pay/comment-page-1/#comment-13725 dfenstrate Thu, 28 Feb 2008 23:39:23 +0000 http://housingdoom.com/2008/02/28/boston-abandon-a-home-and-pay/#comment-13725 Mumbles Menino never met a levy or power grab he didn't like. Mumbles Menino never met a levy or power grab he didn’t like.

]]> By: Linenoise http://housingdoom.com/2008/02/28/boston-abandon-a-home-and-pay/comment-page-1/#comment-13722 Linenoise Thu, 28 Feb 2008 19:51:34 +0000 http://housingdoom.com/2008/02/28/boston-abandon-a-home-and-pay/#comment-13722 Seems like it would just encourage more people to walk away and screw the bank. If you were having trouble renting a house but didn't want to foreclose, now it seems like a no-brainer - rent it for a loss or pay tens of thousands in taxes? I'd expect some lawyers from the banks to chime in on this soon.. I doubt they have the cash to do this if other cities joined in. And what about the home builders? If they build homes and can't sell them, are cities going to require them to pay this tax as well? Granted, it's a tough problem.. too many abandoned homes are hazardous for many reasons, but push things too far and you'll just hurt yourself when the recovery finally begins. Who'd want to invest in a city that badly burned investors in the past? Seems like it would just encourage more people to walk away and screw the bank. If you were having trouble renting a house but didn’t want to foreclose, now it seems like a no-brainer – rent it for a loss or pay tens of thousands in taxes?

I’d expect some lawyers from the banks to chime in on this soon.. I doubt they have the cash to do this if other cities joined in. And what about the home builders? If they build homes and can’t sell them, are cities going to require them to pay this tax as well?

Granted, it’s a tough problem.. too many abandoned homes are hazardous for many reasons, but push things too far and you’ll just hurt yourself when the recovery finally begins. Who’d want to invest in a city that badly burned investors in the past?

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