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Some homes worth less than their copper pipes
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Some homes worth less than their copper pipes

Money – Thieves smashed the window to break in and then gutted the property for its copper pipes -- a crime that has spread across the United States as the economy slows and foreclosed homes stand empty and vulnerable.

Tags: Foreclosed, Homes, Worth Less, Copper Pipes

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"Similar stories are unfolding nationwide as a glut of home foreclosures coincides with record highs in the price of copper and other metals."

"Real estate brokers and local authorities say once-proud homes coast-to-coast are being stripped for copper, aluminum, and brass by thieves. Much of it ends up with scrap metal traders who say nearly all copper gets shipped overseas, much of it to China and India."

"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."

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I warned them that they should use PEX or PVC !

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Sounds like the vultures and buzzards are starting to pick the carcass clean.

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As jobs disappear, I am affraid that this is only the beginning of thefts. This copper stripping has been going on for a couple years here in the Ak-La-Tx area. Recycling is a big thing, now!

This is the reason why congress just recently passed a law that makes it a crime to melt pennies!

Thanks STONERS, this is getting to be a serious problem!

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I just think perhaps my house may fall into that category with it's value(40,000).

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I have often railed about the OVER-VALUATION of homes over the last 10 years. Even the crappiest row home in Philly is now worth $149,900. Far too much for what you get. Don't get me started on the McMansions..... $600,000 for a hastily slapped together cookie cutter home on .25 acres. It's criminal!! Many of these homes begin to literally fall apart after 3 or 4 years. My employer moved into one of these, built by Pulte Homes, and after 2 years there were cracks running across every ceiling, and up some walls. The doors have developed LARGE gaps from the house settling on a poorly prepared lot. The basement gets 2 inches of water EVERY time it rains for more than a couple hours, and several windows have cracked when the house settled. I think I'll stay in my 90 year old home with no leaks, cracks, or drafts. So yes the copper is worth more IMHO

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The high price of copper has also affected broadcasters that have large copper cables feeding their remote antennas. Thieves are finding that the value of the copper is enough to make it worthwhile to trek up to these locations, strip the copper and haul the copper back.

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In my old nieghborhood 280 houses were forclosed on . This is an area were the scrapyards have always been . Back in 1990 it wouldn't be uncommon then to see someone with a car hood or door in a shopping cart going to the scrapper , cashing in and buying some Crack cocaine any hour of the day . One place just had a silver foil covered window with a slot with the money being pushed under at you . Don't ask , don't tell was the usual .

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A tweaker broke into my brother-in-law's building and cut into a live electrical conduit with bolt cutters. When the police arrived, the meth-head was gone but the bolt-cutters were fused to the pipe. I would have paid money to see the look on the guy's face when he cut into that pipe.

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As long as Bush and his party keep oppressing American people on their survival this will go on. It's not just a drug addict in on destruction it's some of the ripped off owners. Too bad that the revenge can't be taken where it counts. McCain just made the remark that people are sitting around wondering if they should get another job to hold on to what they have. Is this this man not aware that there are not many second jobs to get? It cost me almost 15 dollars to get back and forth to work and that is just about seven miles.

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I am so afraid that the desperation for news is fueling the fires of these defaults.

I understand that they need to fill hours, but constantly reminding people how little their home is worth can have a lasting effect.

Maybe if we weren't reminded every 10 minutes of how bad things are in the real estate market, people's opinions could change and start to rebuild the market instead of constantly tearing it down.

If you got caught buying something you shouldn't have bought, it is your own fault. My mortgage was explained to me by an attorney and I completely understand the penalties involved in not paying that mortgage. I don't think anyone will bail me out and I don't expect it. I lost my job but was prepared just as I was told to do with a stash of mortgage payments to make it through a lean time.

I hope it is over soon and I hope that MSNBC, CNN and FAUX will do their share to help.

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what are we coming to

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Where is Ralph Nader when you need him ?

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FOLLOW THE MONEY BOYS & GIRLS. WE ARE SCRAPPING AMERICA AND SENDING IT TO CHINA. WE ARE AT WAR WITH CHINA IF YOU HAVEN'T FIGURED IT OUT YET HERE'S HOW YOU KNOW;

1. THEY ARE GROWING THEIR ARMY FASTER THAN ANYONE ELSE.

2. THEY SEND CHINESE GOVERNMENT APPROVED AND BACKED PRODUCTS OVER HERE THAT ARE POISONED WITH SOMETHING.

3. THEY "ATTACK" EACH MARKET WITH RIDICULOUSLY LOW COST GOODS UNTIL THEY HAVE PUT THE DOMESTIC COMPETITION OUT OF BUSINESS.

WE BETTER WAKE UP AND QUIT BUYING THEIR CRAP OR WE'RE GOING TO GET BLASTED OFF THE PLANET.

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I didn't know that before. Really good news, thank you

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