PropertyProf Blog

Editor: Stephen Clowney
Univ. of Kentucky College of Law

A Member of the Law Professor Blogs Network

Wednesday, March 25, 2009

Penalver on Squatting at Slate

Eduardo Penalver (Cornell), an occasional guest blogger here at PropertyProf, has an interesting article at Slate on how cities should react to squatters in the current economic environment.  Some of his recommendations:

[G]overnments should attack the problem on both the supply and the demand side.  On the supply side, local governments should penalize owners who stockpile vacant housing, perhaps by imposing increased property tax rates on properties left vacant, and by moving aggressively to seize vacant properties when the owners fall behind on paying those taxes. On the demand side, governments should expand homesteading programs that permit and help low-income people to take over vacant housing—but only after it finds its way into city hands. . . .

The federal government should also move quickly to protect those in financial trouble from foreclosure and eviction by requiring foreclosing banks (many of which are themselves receiving taxpayer bailouts) to rent out foreclosed homes to their former owners at fair market value. In fact, as this letter to the editor in the New York Times Magazine on Sunday correctly observed, allowing owners to remain as renters in their foreclosed homes helps safeguard the value of the houses—which is good for the occupants, good for the banks, and good for the housing market as a whole.

Ben Barros

[Comments are held for approval, so there will be some delay in posting]

http://lawprofessors.typepad.com/property/2009/03/penalver-on-squatting-at-slate.html

| Permalink

TrackBack URL for this entry:

http://www.typepad.com/services/trackback/6a00d8341bfae553ef01156f53a43f970b

Listed below are links to weblogs that reference Penalver on Squatting at Slate:

Comments

Post a comment