A gent the other day suggested that to keep up housing values in his neighborhood they needed to bulldoze all the houses held by the banksters that are not being taken care of. I thought that was an interesting idea considering the banksters got us into this mess. Many cities are doing just that. Like Milwaukee and many others. Fire departments are often looking for structures to use for training as well. The new term on the scene is OVV. Yep another TLA (Three Letter Acronym) it stands for Open, Vacant and Vandalized.
I like the term vacant Lot. As a kid the vacant lot on the street was always the gathering spot for all activities and adventures. Everyone started out within earshot of their own house and it was neutral turf. Now everyone is packed in like cattle (slaves?) and there may be a park a few blocks away.
I am all for the banks getting the shaft while we all get a little green field on each block and our property values don’t get decimated in the process.
Light RANT WARNING
OVV of course follows the other new term REO for Real Estate Owned. But REO is not really descriptive unless you are working in a bank. It then describes the fact the the vile institution you are working for owns that property. Quite a few Real Estate Agents are too dumb to list these as bank owned so they list them or describe them as REO. Well of course the real estate is owned! Damm fools. Bank Owned. BO fools.