November 30, 2011
When Houses Become Widgets, Ctd.
Kermit Lind of Cleveland State had an informative comment on his city's approach to dealing with the problem of speculators buying up foreclosed properties and ignoring maintenance issues:
The City of Cleveland and its Municipal Housing Court has been fighting the plague of post-foreclosure speculation in unmaintained housing for more than a decade. See the article in the next edition of Shelterforce, published by the National Institute of Housing. New legal tools have been slow in coming, but this month City Council enacted two innovative ordinances. One would make all owners in the chain of title following issuance of a housing code violation jointly and severally liable for the municipal costs of nuisance abatement where the violations were ignored. The second makes it unlawful for any business entity to buy or sell houses in the City if it has not complied with an existing state statute requiring foreign entities to register with the secretary of state. These measures are aimed directly at the problem portrayed in Pittsburgh. Also, the litigation by a nonprofit developer in December, 2008 against Deutsche Bank for ignoring maintenance of houses it purchases at sheriff sales is still pending in the Federal District Court here in Cleveland.
November 30, 2011 | Permalink
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