Wall Street Journal Tuesday May 5th 2009.

A Texas bank destroys new and unfinished houses acquired through foreclosure. Where to begin, Firstly the bank (Guaranty Bank of Austin), made a rational business decision.
Details:

4 of 16 were complete. Squatters and druggies (yes I said that) were using, stripping and vandalizing the houses, this lead to fines from the city . The market is depressed, and more homes for sale would theoretically depress it further. The federal office of Thrift Supervision had issued a "cease and desist" for "unsound banking practices" so additional funding and exposure didn't look good.

Marginal thinking holds sunk costs as irrelevant. It costs more to finish than revenue expectations. Simple shut-down decision. The sad truth is sometimes losing money is the profit maximizing decision.

Vision Victory Manifesto guy sees this as some kind of validation for his beliefs.

I see it as proof of the textbook shutdown decision.