From article: “the FSLIC decided it was cheaper to actually burn some unfinished condos that a bankrupt Texas S&L had financed rather than try to sell them”.

That doesn’t sound crazy. Especially if the condos were rubbish (as we see happen on many countries speculating on houses - unused properties with little intrinsic value).

I mean they're in Garland, which has not had the growth of other northern edge NTX suburbs. But that the land is still empty boggles for me.