Absolutely. It's a way Joe Sixpack could get a big bang for some elbow grease. It does require some brains, though, and a lot of work. Courage helps.
That lawyer I worked for, he tried to teach me how to pick up a good what he called a "rehab" house. Neighborhood is number one no matter how decrepit the house for rehab consideration might be. He showed me an awful house, terrible, terrible, just a shell. But the houses on each side were in good shape and it was right across the street from a school with a playground.
I was just seeing the house, he saw what it could be. The same amount of money spent on another house in a not so good neighborhood wouldn't bring near as big a return as the above example.
It's common sense, really. The little known truth is that many, very many, of these "foreclosed" homes are exactly that, homes purchased for flipping. I don't know the percentages but hey, I sure would like to know. Why can't this Cox guy require that particular statistic before doing all this? The Dems are having a field day with the talking point about people being forced from their homes when scuttlebutt is this is not the case at all.
Cause if that guy who bought a house for the purpose of flipping didn't get around to it, ran into problems with the rehab, or like Crystal the Stripper and her pimp, Pete, woke up one morning to discover they owned eight houses they'd bought while on a bender.
It seems to me a government wanting to do the right thing could get some answers. This assumes our legislators want to do the right thing but why so when so many are knee deep in this joke?
This whole thing makes me sick, seriously. They laff at us. They pee upon our feet and tell us it's raining.
And the drive-bys never ask one little question of Chris Dodd, such as why did he get interest free loans and money from Fannie Mae.
It's demoralyzing.