Tuesday, April 28, 2009

Many Foreclosed Homes Throughout The Country Doomed To Be Razed (Demolished)

Many thanks to Dink's Finance for finding this article at "The Moderate Voice" by Joe Gandelman. Mr Gandelman has taken a CNN video about unsellable foreclosed properties and included additional U.S. wide news from areas such as Iowa, New York, Michigan and Indiana.

Additional highlights from Gandelman's research include:

* In Saginaw, Michigan, the city had 800 homes on its demo list two years ago and an annual budget to raze 200 per year.

* Foreclosures in Queens, NY, are leaving behind abandoned homes that become havens for crime. The only Queens areas where crime rose between 2006 and 2008 had high foreclosure rates. Yet crime dipped in all eight low-foreclosure areas, including Astoria, Flushing and Forest Hills.

Gandelman's full article.

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