Tuesday, August 26, 2008
While Congress is busy mortgaging the nation’s financial future to rescue Fannie Mae and Freddie Mac, local governments are busy with more urgent efforts to ameliorate the social harms of abandoned and foreclosed homes, especially those concentrated in low-income neighborhoods.
In Boston, Hendry Street is a bleak site of abandoned and boarded up houses (see the picture on the Boston Globe site). Not only does this situation attract crime and vandalism, it further decreases the value of existing occupied homes, sometimes pushing extant homeowners closer towards foreclosure. So the city’s plan is to take title to some houses and to sell them to developers who promise to maintain and repair them for new housing (probably many in the form of rentals). The city has already reached a deal with one developer.
Here’s hoping that the plan (which, to be clear, is funded in large part by federal assistance) works, and that the money is spent more effectively at the local level than the larger expenditures may be at the federal level …
This blog is an Amazon affiliate. Help support Land Use Prof Blog by making purchases through Amazon links on this site at no cost to you.
- Jamie Baker Roskie on Uber Goes to the State House Seeking Preemption of Local Government Control
- Stephen R. Miller on Why are building inspectors so often on the take?
- Josh Hightree on What makes people leave rural areas, and what makes them stay
- Jessica Shoemaker on What makes people leave rural areas, and what makes them stay
- Jamie Baker Roskie on Why are building inspectors so often on the take?
- New Land Use Articles on SSRN
- What to make of the fierce new debate over the efficacy of California's energy codes?
- The W&L Top 100 Law Review Rankings and the Land Use Law Scholar
- CFP: 2015 Future of Places Conference (lead-in to Habitat III) in Stockholm: Deadline of April 15
- Water Down Under: A Report from Australia by Barbara Cosens: Post 7: Conjunctive Management Down Under