Because many of the homes purchased by real estate speculators over the past few years of the housing bubble were rented out, tenants are now finding themselves subject to eviction as the property owners go into default.
"The California Apartment Assn., the state's largest organization of rental property owners, estimates that as much as a quarter of all foreclosed single-family residences are occupied by renters. The number of renters ensnared in the foreclosure fiasco is even larger when duplexes and other multi-unit buildings are factored in."
"And the evictions show no sign of abating. Many now-foreclosed properties had been purchased by real estate speculators taking advantage of dirt-cheap loans, who rented the properties to tenants before falling behind on mortgage payments."
"This 'shadow market' of renters isn't being tracked by organizations that compile statistics on established rental properties, Conway said, adding that the number of such renters has grown in the Inland Empire."
"Karen Fricke, executive director of the Apartment Assn. Greater Inland Empire, an organization of rental property owners, said it was no secret among landlords that many renters were getting caught up in the mortgage meltdown."
FULL STORY: Shadow victims of the mortgage crisis: renters
Seattle Legalizes Co-Living
A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.
Central Florida’s SunRail Plans Major Expansion
The expanded train line will connect more destinations to the international airport and other important destinations.
NYC Officials Announce Broadway Pedestrianization Project
Two blocks of the marquee street will become mostly car-free public spaces.
For Some, Co-Housing Offers Social and Economic Benefits
Residents of co-living developments say the built-in community helps ease the growing isolation felt by many Americans.
New Map Puts Bay Area Traffic Data in One Place
The Traffic Monitoring site uses community-collected speed and volume data to reveal traffic patterns on local roads.
Electric Car Share Comes to Detroit’s Eastside
The program is operated by the Eastside Community Network and funded through the U.S. Department of Energy.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Los Alamos County
City of Culver City
Skagit Transit
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners