The foreclosure crisis and economic meltdown have left many American cities struggling to cope with thousands of properties being abandoned -- not just by owners, but by lenders as well.
Huffington Post profiles the experience in Chicago, where a local nonprofit group called Neighborhood Housing Services does what it can to deal with the wreckage:
"As of last year, there were roughly 15,000 vacant buildings in Chicago, 85 percent of which were caught in some stage of the foreclosure process, according to city figures. Cities around the country face similar battles with such foreclosure ghost towns, struggling to cope with a growing number of empty properties left in the wake of the foreclosure crisis. Mortgage lenders alone have anywhere from 1.3 million to 5.3 million properties on their books, the vast majority sitting vacant while lenders wait for the housing market to improve. Entire blocks have been abandoned. Four years into the foreclosure crisis...some of the houses he sees have lost so much value that even lenders have walked away, deciding that foreclosure proceedings would likely cost more than the possible resale value of the house.
Many of the more seriously-damaged vacant houses, some rendered nearly worthless by neglect and plunging property prices, were already in less desirable neighborhoods. But the problem isn't limited to lower-income areas."
FULL STORY: Coping With Chicago's Foreclosure 'War Zones'
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
Ohio Lawmakers Propose Incentivizing Housing Production
A proposed bill would take a carrot approach to stimulating housing production through a grant program that would reward cities that implement pro-housing policies.
Chicago Awarded $2M Reconnecting Communities Grant
Community advocates say the city’s plan may not do enough to reverse the negative impacts of a major expressway.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
Town of Zionsville
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