Last week as I was walking the neighborhood I was surprised to find an entire house missing! (anything within a mile or two is considered by myself to be neighborhood) I had not been walking in the burbs much over the past few months as I get plenty of exercise over the summer in the mountains. Anyhow I was curious as to what happened. A Google found the info that the property has been foreclosed and the house demolished. I figure the previous owners must have trashed it bad as it would have been built in the early 80's and the balance of the homes are still well kept and upscale from our street.
We have not seen serious problems like they have in many parts of the country. I saw a while back that the big banks are contemplating the destruction of MILLIONS of homes. The logic is pretty simple. They have written off the mortgage. They are not going to sell anytime soon. They are a huge tax liability. They are a huge legal liability.
Evidently this practice is going on large scale in Cincinnati, Ohio