Last week, Los Angeles Mayor Antonio Villaraigosa launched the city's "50 Parks Initiative," a public-private partnership that plans to add over 170 acres of new park space throughout the city's "park-poor population-dense" neighborhoods.
President Obama can rightfully claim that many of the initiatives his administration pushed through in his first years in office helped reverse the acute economic slide he inherited. His efforts to cleanup the housing crash were far less successful.
After seizing control of a condo association, a Pennsylvania developer has forced 11 homeowners to sell their units for as little as a third of their appraised value, leaving them stranded with crippling mortgages, Teke Wiggin reports.
In an effort to stabilize neighborhoods and reduce the glut of foreclosures in the marketplace, Fannie Mae is beginning to sell foreclosed properties in bulk to investors to test the market for rental homes, write Alan Zibel and Nick Timiraos.
Multinational financial services company Citigroup was bailed out by federal stimulus funds after taking large losses on bad mortgages. Today, Citi Foundation is helping fund projects in 10 metro areas to increase stability and prevent foreclosures.
California's San Joaquin Valley has become a hotbed of foreclosed homes. But beyond mere statistics, these homes are real places, and a new series of photographs documents them as scenes of surrender and abandonment.