Friday, July 23, 2010
abandoned homes in Boise/Meridian
The economic crash has created a new subject to explore. Hundreds of new homes are vacant in cities that were booming under the inflated economy. Here, millions of dollars in real estate sits empty in just one of many new subdivisions that investors lost everything on the promise of big returns from developers. It is interesting to note that the developers lost little or nothing. I learned a new acronym while working in Boise...OPM...other peoples' money. That is the mantra of big time developers. They make big promises and use other peoples' money to pay themselves well and avoid excessive risk.