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Buying Houses to Raze

August 17, 1986

It is hard to believe that people are paying top dollars for older houses, then raze them to build new housing (Aug. 10). I have seen this in my neighborhood, built in 1952, where I am an original owner.

Haven't you often wondered who can afford to do this? The way the tax structure is set up, how can one legally accrue that kind of money? Maybe some of that money is foreign aid coming back to haunt us.

MARVIN J. LETTVIN

Culver City

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