Monday, November 22, 2010

We must move cautiously on foreclosure crisis | | Cincinnati.Com

We must move cautiously on foreclosure crisis | | Cincinnati.Com: "That's just one street in one neighborhood in one city. Multiply that by thousands, and you get a sense of what happened in this nation.

In some places, entire neighborhoods have been wiped out, houses razed, leaving a barren landscape. Or, in the case of streets like McPherson, abandoned houses have been vandalized and are crumbling. Others have been demolished, leaving vacant lots like missing teeth in the streetscape.

The ripple effects of foreclosure are many.

The fabric of the neighborhood often is shredded; the sense of community is lost. Empty, deteriorating houses become breeding places for crime. They add to job losses as population declines. They erode the tax base, leaving local governments even harder-pressed to provide needed services."

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