Monday, June 30, 2008

Foreclosure and homelessness

Many people who've been reading and posting on housing market blogs lately think that large numbers of foreclosures won't lead to serious social problems. The thinking seems to go, "If you're foreclosed on, no big deal because you can always rent." (Forget the kids' good schools and where the pets will live.) No-big-deal posters, here's an article for you. It's from AOL, and here's a quote:

"Nearly 61% of local and state homeless coalitions say they've seen a rise in homelessness since the foreclosure crisis began in 2007, according to a study released in April by the National Coalition for the Homeless. According to the study, which let respondents offer multiple replies when asked where they're headed once their property is foreclosed on, 76% of displaced homeowners and renters are moving in with relatives and friends. About 54% are moving to emergency shelters. About 40% are already on the streets. Nearly 61% of local and state homeless coalitions say they've seen a rise in homelessness since the foreclosure crisis began in 2007, according to a study released in April by the National Coalition for the Homeless. According to the study, which let respondents offer multiple replies when asked where they're headed once their property is foreclosed on, 76% of displaced homeowners and renters are moving in with relatives and friends. About 54% are moving to emergency shelters. About 40% are already on the streets."

Okay, you NBDs, if you think the government has no place in helping those whose homes are facing foreclosure, I think it's time for you to pony up and start contributing to homeless charities.

1 comment:

  1. It really makes me wonder what will happen next year in 2009.

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