Quote:
Originally Posted by claytonender
I have no idea about the situation in the US - maybe both the land and buidling on the land is 'toxic' having been built on land that was unsuitable for house building.
But from what I have heard, about the massive losses posted by the former HBOS - they have put evrything that might be remotely classed as a bad debt into their latest figures. Possibly some of that debt might be repaid at some time - which would then make their profits look better when it is repaid, because if it has been written off once any money received would be a 'bonus' to the bank.
Here in the UK the land would have some value, as would the property on the land, but only if -
a) someone wanted to buy it and
b) there was money available to buy.
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In the first part or your post.
Your not suggesting banks are bent are you?
In the UK only a small parcel of land which a house stands on is worth money and I understand where you are coming from.
In the US we are talking about whole estates where people have lost their houses. Parcels of land like that just cant be written off, surely?