Bank foreclosures are nothing new, but in California things are so bad in some areas that the banks are starting to destroy some homes. We clearly don’t have this problem in Salem Oregon. Our real estate market, while it has its issues, is far from destroying property.
Here is a YouTube video that shows the homes that they are bulldozing, around 12 in all. The subdivision had serious problems with vandalism and the homes were being destroyed. It was actually cheaper to just bulldoze the homes, then try and sell them.