AP Stretching the Truth and Your Pipes!
By 186 on Apr 1, 2008
Looking to add some drama to the already traumatized housing market the Associated Press figured it would inject some “fabulistic” journalism.
AP - Some U.S. homes worth less than their copper pipes
In areas hit hardest by foreclosures, such as the Slavic Village neighborhood of Cleveland, Ohio, copper and other metals used in plumbing, heating systems and telephone lines are now more valuable than some homes.
“We’re in an incredibly unfortunate time where the nonferrous metals commodities market for scrap is at an all-time high. Houses are getting stripped pretty quickly once they go through the foreclosure process,” Cleveland city councilor Tony Brancatelli said.
“We’re seeing houses sold for $100 that are distressed houses that should not be recycled,” he said. Some boarded-up homes in his Slavic Village community have “No copper, only PVC” painted on the boards to stop would-be thieves.
But hey look on the bright side, our streets are full of less litter!
Tags:
copper, real estate, housing, ap, associated press
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