BofA Donates Then Demolishes Houses to Cut Glut

BofA Donates Then Demolishes Houses to Cut Glut

Ronda Churchill/Bloomberg

The oversupply of homes once prompted Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc. (BRK/A), to quip in February 2010 that one solution was to “blow up a lot of houses -- a tactic similar to the destruction of autos that occurred with the ‘cash-for-clunkers’ program.’”