Bank foreclosures on churches skyrocket
March 09th, 2012 by Bookslinger
www.reuters.com/article/2012/03/09/us-usa-housing-churches-idUSBRE82803120120309
This illustrates the wisdom of the LDS church’s economic model of raising (or setting aside) funds in advance and paying cash for church buildings (no mortgages).
It also illustrates the wisdom of church headquarters owning the real estate and not the local congregations.
I suppose some of those empty churches might be just the right size to be easily adapted for LDS use.
Comments (2)
Filed under: Deseret Review | Tags: it is a difficult concept, Mormon, religion, zion
Filed under: Deseret Review | Tags: it is a difficult concept, Mormon, religion, zion
March 09th, 2012 13:57:03
Adam G.
March 9, 2012
I’m guessing some of these churches took the ‘throw yourself off the temple and the angels will catch you’ finance plan. In other words, they thought faith would pay their mortgage. Whereas God was expecting that they would pay their mortgage.
Vader
March 9, 2012
The Church seems to have dabbled with this plan in its early days. We learned. There is something to be said for institutional memory, but it does require a continuing institution. Something to remember when next you hear someone snark about organized religion.