Sunday, June 22, 2008

Disposablity of Humans

I'm not here to talk about the disposability of human lives, but another type of disposability. It's one that I am currently witnessing in the real estate arena, so I have first hand knowledge of the subject.

Let me tell you how this works in the real estate market. First, a person of unknown origins decides to buy a piece of property for future gains. He knows at the moment, the property value is lower than it could be, or is in distress for some reason or another and decides to take advantage of said property. In our case it was someone from Europe who purchased our small complex with the intent of making money off of it in the future as land values in our area continued to rise dramatically. He bought the 8 unit property, collect rents which paid the mortgage, property taxes, insurance, etc. All the while, no repairs were done after major storm damage happened due to a hurricane, although he did collect checks from the insurance company. So people were paying rent for a place to sleep safely and soundly, and yet the owner did nothing to fix any needed items including termites.

Next comes the sale of the property because the city has hounded this owner with one Code Violation after the next, and he's been cruising by with one excuse after another for some time. It's boiling down to fix it, or pay! What's his option if he doesn't want to pay to have repairs done? Sell it to the next guy who's wanting to make a buck off the property. So now the first guy makes a profit on his money, the second guy buys to tear down all the buildings and wait until the value of the property goes back up. Some folks just have enough money in the bank to do that. Besides, with the buildings gone, the taxable value is almost nill, there's no insurance to pay for, and life goes on while the waiting game is played out.

But wait!!! What about those poor folks, living from paycheck to paycheck that have been paying the mortgage for guy #1 all this time? They got 15 day eviction notices. Fifteen days to move out, or have the sherriff come knock on their doors and put their belongings in the street.

Amazing this 'American Capitalism Society', isn't it? Turning living beings into disposable trash to be thrown to the curb when no longer needed to pay someone else's mortgage, taxes, insurance, etc.

Life never ceases to amaze me. Nor some of the 'human beings' I get to share this 'journey' with.

Something to think about.

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