UPDATED (5:29 PM)
Banks have a new remedy for America's ailing housing market: bulldozers.
There are nearly 1.7 million homes in the U.S. in some state of foreclosure. Banks already own some of these homes and will soon repossess many more. Many housing economists worry that a near constant stream of home sales by banks could keep housing prices down for years to come. But what if some of those homes never hit the market?
Read more: http://curiouscapitalist.blogs.time.com/2011/08/01/bulldoze-the-new-way-to-foreclose/#ixzz1Ttm2RUBN