• SSMMA

For some Americans, the housing crisis isn’t over


The millions of foreclosures stemming from the Great Recession made for dramatic headlines. Now, the housing markets in many of the hardest-hit areas have recovered, and cities such as San Francisco, Los Angeles, and New York are even seeing record real-estate prices. Yet while the national housing market may be well on the way to recovery, the markets in some areas of the country are actually getting worse, according to a new report out from the Center for American Progress.

The report indicates that there are still more than seven million homeowners who are underwater in America—that is, they owe more on their homes than the homes are worth. In some 1,000 counties, the number of underwater homes is stagnant or increasing, threatening already struggling regions with the potential of more foreclosures, more empty and abandoned homes, and more people who opt to rent instead of buy, which drives up the price of apartments…Please click here to read Alana Semuels’ story in the Atlantic.

0 views0 comments

Village of Alsip  •  Village of Beecher  •  City of Blue Island  •  Village of Burnham  •  City of Calumet City  •  Village of Calumet Park  •  City of Chicago Heights  •  City Of Country Club Hills  •  Village of Crestwood  •  Village of Crete  •  Village of Dixmoor  •  Village of Dolton  •  Village of East Hazel Crest  •  Village of Flossmoor  •  Village of Ford Heights  •  Village of Glenwood  •  City of Harvey  •  Village of Hazel Crest  •  Village of Homewood  •  Village of Lansing  •  Village of Lynwood  •  City of Markham  •  Village of Matteson  •  Village of Midlothian  •  Village of Mokena  •  Village of Monee  •  City of Oak Forest  •  Village of Olympia Fields  •  Village of Orland Hills  •  Village of Orland Park  •  Village of Park Forest  •  Village of Peotone  •  Village of Phoenix  •  Village of Posen  •  Village of Richton Park  •  Village of Riverdale  •  Village of Robbins  •  Village of Sauk Village  •  Village of South Chicago Heights  •  Village of South Holland  •  Village of Steger  •  Village of Thornton  •  Village of Tinley Park  •  Village of University Park  •  Village of Worth

  • Facebook
  • Twitter
  • LinkedIn

© 2021 by South Suburban Mayors and Managers Association