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The point is that the house isn't worth even the back taxes on it. That is hard to imagine from a west coast perspective. Even after the bust in 2009, I don't t
by cmbaus 13y ago
The point is that the house isn't worth even the back taxes on it. That is hard to imagine from a west coast perspective. Even after the bust in 2009, I don't think it got that extreme in too many places.
- outworlder 13y agoNot sure if it was 2009, unless the effects in that region were felt only years later. I was having a look at another cheap house from around the area. Just check out the graph: http://www.zillow.com/homedetails/23-Barrett-Ave-Jamestown-NY-14701/29894630_zpid/ http://www.zillow.com/homedetails/23-Barrett-Ave-Jamestown-N...
- blazespin 13y agoFair point! However, if it was a foreclosure it could have been sold at 4K + buyer pays owed taxes / liens. I'll agree though - the main thrust that Jamestown, NY RE is surprisingly low compared to elsewhere is an interesting one.
- nitrogen 13y agoWould it make sense for cities to forgive the back taxes and liens to encourage new growth, or have they borrowed against the money owed to the point that forgiving it would bankrupt the city?