Now that the federal government’s efforts at tinkering with regard to the marketplace for affordable homes has started to show its effects, we are faced with a glut of cheap homes in the United States. Complicating matters is the fact that unemployment remains very high, so people who might otherwise absorb that supply are still unable to afford to buy any of the cheap houses for sale. For those in a position to buy a cheap home, it’s a buyer’s market, and lenders are aware of this fact of business life. For them, the stock of unsold real estate, although nominally assets, amount to liabilities. Although they will spend money to do the bare minimum of home maintenance and just about never any home improvement, they are exposed to liability for damages occurring on the pro read more