Abandoned homes can quickly lead to a neighborhood’s downfall
There are many reasons why the federal government, mortgage lenders, banks, housing agencies and local municipalities should do everything they can to prevent home foreclosures. One of the most important is that such foreclosures can quickly pull an entire neighborhood into decline.
Empty homes are magnets for trouble. When a neighborhood has several of them, it brings nothing but headaches.
A prime example is taking place now in the New York town of Niagara, located close to Buffalo. According to a story in the Buffalo News, one in five homes in the city is now vacant.
The story points to a one-block stretch of street in the city where half of the houses are boarded-up. Taggers have marked several of these homes with spray-painted obscenities. A block away, reporters found lawns covered with garbage, condemned signs hanging from several houses and a rusted-out television set sitting on a walkway.
Think about that one-in-five homes being empty number. According to the Buffalo News story, almost 2,000 homes in Niagara Falls went vacant between 2000 and 2007.
That’s a frightening statistic, and points out exactly how seriously the housing crisis has hit this country. Because as bad as things are in Niagara, the New York city is certainly not unique. Many, many citites across the country are facing their own foreclosure booms.
That’s why I’m always surprised to hear people complain when the federal government tries to help homeowners avoid foreclosure. To the critics, I ask you: How does letting people lose their homes help anyone?
