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Home Takedown

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Bank of America will soon begin its planned takedown of foreclosed homes in Chicago's poor neighborhoods. The program calls for the demolition or "deconstruction" of 150 homes over the next two years. By "deconstruction", they mean the careful removal of the structure, with selective materials donated to non-profits for re-use. With a standing inventory of 100,000+ foreclosed properties in Chicagoland, this barely makes a dent in blighted communities, nor does it do anything for those in dire need of housing. But communities want to see troubled properties dealt with in some way, and this seems a pandering to that. Or maybe Bank of America is sensitive to the trash being hauled from foreclosed housing plots to their doorstep by a band of Occupy Chicago protesters... [CNBC]