Foreclosures Create New Opportunity For Habitat
The current crisis in the real estate market has forced many families to leave their homes. However, this has also caused some positive results, reports the nation’s best-known housing charity.
Some Habitat for Humanity chapters have decided to make the best of the situation by purchasing many of the houses affected by the mortgage meltdown, some of them for as little as half price. As The Log Cabin Democrat reports, Habitat also buys parts of subdivisions that developers couldn’t afford to finish.
In the Minneapolis area and elsewhere, the charity that offers affordable housing to low-income families is buying foreclosed homes and using volunteers to renovate them. If that’s not practical, the houses are torn down to make way for new dwellings. In some cities, Habitat is even buying parts of subdivisions that developers couldn’t afford to finish.
At least some measures are taken to improve the vital situation in housing market.
“We’re stepping up to the plate to provide some viable solutions to the housing crisis,” said Sharon Rolenc, a spokeswoman for Twin Cities Habitat for Humanity. She said vacant homes can drive up crime and reduce the value of neighboring property.
Photo: © Northfield.org
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