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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: jttmab who wrote (206352)	10/17/2006 10:52:13 PM
From: Ichy Smith	Read Replies (1) \| Respond to of 281500

Well one of the "Flop houses" i don't know a better word, any way it was a cheap hotel with really cheap rooms by the week or month in my town was torn down, they had a fire, the owner got a huge amount from the insurance payout, and decided that since it was a designated building, it made more sense to demolish it, and rent the land for parking. When parking makes more income than housing, which investment would you choose. When taxes get too high, inexpensive rental properties are put to other uses. They are tearing another one like it down next month BTW. Gentrification of poor neighbourhoods does it too. As the neighbourhoods get renovated, the value of the houses goes up. For some people it is simply home, where they live, and if they are on a fixed income, they eventually cannot afford to live in their home even if it is paid for.