Is Occupy Wall Street and Occupy Kansas City starting to invade real estate foreclosures?

Is Occupy Wall Street and Occupy Kansas City starting to invade real estate foreclosures?


Rumors are that Occupy Kansas City (add your city) will be going to the next level. 


What is that next level you ask?


In San Francisco and other parts of California, the good old folks of Occupy San Francisco are starting to invade vacant foreclosure homes and starting to occupy them. Reading a blog post this morning, a couple young people were quoted that they were jobless and homeless so occupying a vacant foreclosure only made sense to them.


In certain parts of California, homeowners who have had their homes foreclosed in have invaded their former homes and have setup residence.


A couple blog commenters pointed out the problems about insurance and problems with homes burning down due to fires to keep warm.


A few other blog commenters suggested that invading vacant foreclosure homes in colder climates like Kansas City, Chicago and New York made sense.


Hello people. This is wrong no matter how you look at it. Instead of creating a solution to the economy, many people are looking to pile on the problems.


Lets forget the legal aspect of occupying a property you don't own. Many foreclosed homes are vacant due to many issues such as paperwork. Add a squatter to the equation and there will be more added paperwork thus delaying the process. The homes would even take longer to get to the real estate market.


In addition, what will the real estate market look like if ALL available vacant inventory was on the market now? Very lousy I think. 


Although many real estate foreclosures that lay sitting vacant also become more deteriorated, I don't think this will be anything like 5 times the foreclosures on the market right now.


While door knocking this morning in a subdivision in Olathe, there were 8 homes that were recently foreclosed on and were currently vacant. If all of those homes were on the market right now, how much less would the other active listings or all the other homes in the subdivision be worth?


I have not formed an opinion on the Occupiers yet. If they started occupying vacant real estate foreclosures, I could easily form an opinion.




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Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty 

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