Sunday, April 3, 2011

HUD's Arizona auction -- I wonder.

The Arizona Republic auction story is all smiles: HUD sold off 150 foreclosed houses to people who intended to live in them, in some cases for less than $100,000 to people who could hardly believe they were really buying a real house. Maybe this is a great example, maybe they'll try this elsewhere, maybe it's all good news -- but will everyone agree a year from now? Just have to wonder.

Also have to wonder, is this the closest we get to land reform in the U.S., this taking of houses from some and selling them at lower prices to others? But what even remote suggestion is there that more underdogs benefit than lose?

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