Tuesday, February 19, 2008

Wall Street Journal features Akron's foreclosure woes

Nothing like making the national news for something bad eh? Quite an article in the Wall Street Journal featuring Akron's struggles with foreclosures. Read it here.

The story explains how private companies are making $$ by assessing foreclosed homes on behalf of the mortgage companies. Akron's foreclosure rate is high .. so it shouldn't be much of a surprise that businesses aimed at post-eviction operations would be turning a profit.

Still, why does it have to be us? What did we ever do from little ol' Akron to deserve this?

The WSJ story includes a slideshow comparing the inside and outside of a foreclosed home. Some of the before/after shots are compelling when considering the investment some make to fix a foreclosed property.

Just today I noticed more and more of the larger Fairlawn homes along West Market Street are tossing out "For Sale" signs.

By the way, the next Sheriff's auction of foreclosed properties is Friday at 10 a.m. For a look at the vast number of properties up for sale, click here.

I'm tired of seeing our city featured in the WSJ for stuff like this. Tired of it.

1 comment:

Anonymous said...

I was amazed at the number of houses that came up when I entered my zip code! and several on my street! I wonder what the answer is? more jobs? better paying jobs? more afordable college educations? I don't know.
good blog. I enjoy reading it.