Foreclosure Mitigation, Abandoned Properties, Whatís Missing?
Posted by David Sailer on January 21, 2009
At an upcoming housing summit in New Jersey, there are promising presentations for anyone who sees the grave danger associated with the foreclosure crisis and the subsequent effects on neighborhoods, but does it go far enough?
While the conference will have a presentation on foreclosure mitigation, and another on dealing with abandoned properties — two pieces to the puzzle of community stabilization — I am concerned that the bigger picture is being missed. While foreclosures have precipitated a dramatic decline in thousands of neighborhoods, stopping the foreclosures won’t be enough to bring those neighborhoods back.
So, focusing on two important aspects of the problems facing communities devastated by the foreclosure crisis is helpful, but also serves to draw attention away from the underlying deeper problem. Without explicitly making the broader connection and paying attention to the other pieces of the problem, our neighborhoods will not come back, and CDCs will be judged as having failed.
About the author more ¬Ľ
David Sailer is the executive director of the National Housing Institute.