Bakersfield, California<br />
July 11, 2012<br />
<br />
An abandoned foreclosed home, one of thousands in this town but only a few are on the market and for sale.<br />
<br />
In a city where housing prices have fallen by more the 50% a small amount of construction has begun again in the outlying neighborhoods where housing stopped in 2008. The cost of building a new homes makes the construction only modesty profitable if at all. <br />
<br />
Many of the banks and investors are holding the homes and waiting for prices to rise to turn a profit. This degrades the amount of homes on the market and any need for a house to actually live in is harder to find artificially driving prices up.

Details

Foreclosure West
Bakersfield, California
July 11, 2012

An abandoned foreclosed home, one of thousands in this town but only a few are on the market and for sale.

In a city where housing prices have fallen by more the 50% a small amount of construction has begun again in the outlying neighborhoods where housing stopped in 2008. The cost of building a new homes makes the construction only modesty profitable if at all.

Many of the banks and investors are holding the homes and waiting for prices to rise to turn a profit. This degrades the amount of homes on the market and any need for a house to actually live in is harder to find artificially driving prices up.

Filename: 1866_07_11_2012.JPG
Photographer: ARCHIVE ANTHONY SUAU
Source:
Date 11 May 2012
Location: Bakersfield California USA
Credit: Anthony Suau © 2012
Copyright: Anthony Suau © 2012
Model Release: No
Property Release: No
Restrictions: Minimum usage fee $300 or 250 Euro
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Keywords:
  • 2012
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  • July 11
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  • banks
  • foreclosures
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  • housing crisis
  • construction
  • vacnt property
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  • investors