An interesting prediction from The Big Picture about banks choosing to abandon foreclosed low-value homes, rather than pay taxes and assume responsibility for the ever-increasing inventory…

And I just read about the newly-minted phenomenon of “jingle mail” where homeowners find it easier to abandon their homes than to declare bankruptcy or get out of credit card debt.

I’ve been researching and exploring hollowed-out cities, failed amusement parks and other ventures for a few years now — and always wondered what it would take for the quick-built sprawling suburb to similarly fall out of favor. Looks like the time is now, thanks to rising oil prices and the housing crash.

Phoenix Trotting Park, a race track that closed almost as quickly as it opened in the 1960s when the price tag to complete it soared from an estimated $3 million to $10 million, effectively bankrupting its east coast builder. Other factors helped lead to its demise, however, including cold temperatures, flooding, and the long, 20-mile trek (at the time) from Phoenix. — photo and caption by Scott Haefner