Not All Homes Are Full Cash Machines, Or The Case of the Empty Cash Machine in a Foreclosure
One of the favorite phrases thrown around during the real estate slowdown is that homeowners treated their homes as a cash machine. Now we have an ironic story coming out of Minneapolis, Minnesota of an empty ATM being found in a foreclosed home.
Investigators are still puzzling about how and when a cash-less cash machine ended up in a foreclosed north Minneapolis house, and where it belongs. “It’s not like it was a picnic table that was taken,” said Sgt. Jesse Garcia. “I’m sure somewhere [a machine is] missing.”
The mystery began Saturday when a city housing inspector was checking out a foreclosed house on the 3700 block of N. Penn Avenue and found the machine. It had been pried open and all the money was gone.
Forensics experts are trying to determine what, if any, evidence it may contain that could lead to a suspect. via the Star Tribune
Is this a case of the homeowners being career criminals who ran bust outs in real estate and also were thieves, or did the folks who stole the ATM ditch it in a empty home that just happened to be foreclosed upon? Investigators hope to find out but to me this is a parable of the segment of the housing market that did use their home as a cash machine.
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A house of beautiful architecture and well built so turned upside down. How sad. My condolences to the owner. 
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Comment by F. Thomas Pecora, Consulting Realtor on 17 December 2007:
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F.THOMAS PECORA, Consulting Realtor