Home Squatters and Britney Spears

A couple interesting money-related news items today.

First, seems as if people are squatting in foreclosed homes:

They enter through a broken first-floor window each night to sleep on a moldy bed in the abandoned four-family house at 827 Main Street, part of a new generation of squatters emboldened by America's housing foreclosure crisis.

"For squatters, foreclosed homes like this are like a camp-ground with free camping," says real-estate broker Marc Charney, a foreclosure specialist, as he enters the home in Brockton, Massachusetts, and shines a flash-light at a mattress where homeless people have been sleeping each night.

Squatting is on the rise across the United States as foreclosures surge, eviction notices mount and homes go unsold for months, complicating the worst U.S. housing slump in a quarter century and forcing real-estate brokers to enlist the help of law enforcement and courts to sell empty houses.

In some regions, squatting is taking on new twists to include real-estate scams in which thieves "rent out" abandoned homes they don't own. Others involve "professional squatters" who move from one abandoned home to another posing as tenants who seek cash from banks as a condition to leave the premises -- a process known by real-estate brokers as "cash for key."

Think there's a money saving or maney making tip in here somewhere? ;-)

Second, seems like the economy even has Britney Spears cutting back on spending:

The truth is that since last year, Britney has buckled down. She's practically the poster child for fiscal restraint.

An insider recently revealed to InTouch Online that today Britney's spending is one-fifth of what it was before. That's right: Britney slashed her budget by a whopping 80 percent.

Of course she continues to spend a ton -- but still, she's making progress! ;-)

Comments

[sahm]

As investors, we have looked at tons of foreclosures. What amazes me is the ease it is to get into many of these homes- they are not even secured. We kept a close eye once we put a house under contract, since they are purchased "as is". I still don't understand why so many go to auction, and then just sit there. I watched several in my old neighborhood that sat and sat before it went on the market. That is an open door for a squatter because you don't even have a real estate agent looking in on it occasionally and the neighbors aren't always paying attention.

I just say that this is a caution to those looking at foreclosures- you never know what you will find. Don't go by yourself.

[Nick]

It'll take a while before something is figured out with all these empty properties. The suburbs were built up and are now being somewhat emptied out, with a lot of abandoned/foreclosed homes as a result. It's no wonder people who end up with nowhere else to live break into other homes to get some shelter.

I guess if you're bold enough to break into a house, you'd be bold enough to ask the bank owner for a few thousand dollars to leave. That may be a money-making tip, but probably not a good one that could be applied by more than a handful of former homeowners.

[Master Allan]

I read that Britney Spears article early this morning and immediately thought two things: it's about finance & who writes these ridiculous articles? Headline: Britney is more financially responsible then most Americans. Having a budget is a step in the right direction but it doesn't tell anything about Britney's financial situation. One category, "Misc" lists $5 million in expenses --- on what? My personal budget going back four years is a dollar for dollar list of everything I have purchased giving me full details. Or I could go the Britney way, which the author writes is better than most Americans, and list expenses: $2000, income: $3000.

[MetaMommy]

This reminds me of an NPR piece. Locksmiths are making a mint these days changing locks for realtors, but it's a dangerous job because they never know when a squatter's lurking around the corner.
http://www.npr.org/templates/story/story.php?storyId=89695232