COMMENT OF THE DAY: WHY THE BANK WON’T FINISH BUILDING THOSE TOWNHOUSES “. . . the bank would rather take the loss than become builders. The law in Texas puts certain long term responsibilities on the builder and the banks don’t want to get into it. I’ve talked to a few banks about finishing, or at least drying in, some of them and for them it’s cheaper to let them rot and write them off than to prolong the process and get financially deeper into a project that will probably never turn a profit. That money is making them +5.5% profit now if they invest it elsewhere, which over a very short amount of time, more than makes up for the loss. Bankers care about money not urban blight.” [SCD, commenting on Swamplot Price Adjuster: Some Unfinished EaDo Business]