Millions of American property owners are behind on mortgage payments and facing the prospect of foreclosure and eviction later this year.
More and more homeowners are falling behind on mortgage payments as the pandemic lingers, according to recent market data.
The Orange County Register
The state of California is trying to prevent a repeat of one of the most significant consequences of the Great Recession: large Wall Street interests buying for-sale housing in bulk for conversion to apartments.
How to keep affordable apartments and single-family homes out of the hands of institutional investors if the coronavirus pandemic leads to a giant wave of evictions and foreclosures.
Expectations that the economic downturn of the COVID-19 pandemic will create a wave of homeowners leaving the market, whether by choice or necessity, are driving big acquisitions by private equity firms and Wall Street investors.
The Wall Street Journal
Elizabeth Warren and Carroll Fife warn about the potential for the worst housing market outcomes of the real estate and financial crisis of 2008 to repeat without action from federal and state lawmakers.
The Washington Post
The housing market has yet to devolve like in 2008, thanks to a federal safety net put in place in March, but a wave of foreclosures is still a possibility as protections begin to expire.
The federal government has announced a critical effort to stabilize the economy as the country addresses the coronavirus pandemic.
Some areas of the country are experiencing stress in the housing market, according to the new CoreLogic "Loan Performance Insights" report, but overall it's a long-time since homeowners have been so stable.
The Dallas Morning News
The buyback plan diverts properties from Wayne County's tax foreclosure auction, keeping them in government hands until residents can repay the purchase price.
Detroit Free Press
Call it a tale of two housing markets.
The Plain Dealer
National economic indicators may look good, but some areas are still clawing their way back from the 2008 recession. Cleveland's Slavic Village, an "epicenter" of the foreclosure crisis, is one of them.
According to a new study, richer borrowers drove the economy off the cliff in the housing crash of the Great Recession.
The world's skinniest skyscraper, under construction on Manhattan "Billionaire's Row," is over budget with 60 stories left to build.
The New York Post
It might seem obvious that vacant homes attract crime and other noxious elements to surrounding properties, but researchers are still working to quantify those external costs.
The Federal Reserve Bank of Cleveland provides an early assessment of a new foreclosure law in Ohio designed to help reduce vacant and blighted properties in the state.
The Federal Reserve Bank of Cleveland
As prices rise, especially in desirable urban markets, what used to be called "starter homes" rarely come up for sale. And when they do, they go for more than first time home-buyers can afford.
The Washington Post
In an effort to bring relief to homeowners, the city will reduce property taxes on 95 percent of the city's residential properties.
The Detroit News
Clarifying some of the jargon that drives the land bank process in Cuyahoga County, Ohio reveals the importance and scale of neighborhood stabilization in some parts of the country.
On the ground, combating gentrification means putting a stop to cost-driven displacement and evictions. Grassroots organizations in some of the hardest-hit cities have dedicated themselves to that task.