Because maybe the brick is ugly. :) We painted our Lake Highlands house - the brick was kind of pink, so the light khaki paint was a huge improvement. I think the value we added by painting it was more than twice as much as we spent.
I can totally see that if the brick is ugly, but the house I saw as I was driving home last night was a perfectly normal pretty brick. Nothing at all wrong with it.....I guess the owner's didn't like it! :-)
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