The foreclosure crisis that affected the entire nation during the economic downturn of 2007-2009 created another crisis: an urban landscape filled with vacant and abandoned properties. While residential properties were empty because of foreclosures, commercial properties were abandoned because of the economic struggles of business owners. This, of course, raised the risk of vacant building fires.
The story of an abandoned property does not always start with the owner of the property packing up and walking away. Often, these properties belonged to someone who is now deceased and next of kin either can’t be found or doesn’t exist.
Substandard Housing Affects Your Entire Community
January 18, 2021
Substandard housing is a growing issue. It’s estimated that 330 million urban households worldwide live in substandard housing. In the United States alone there are about six million homes and apartment buildings listed as substandard, and the problem isn’t going away any time soon.
The National Vacant Properties Campaign held its annual conference in Cleveland, Ohio last week. There to explain the positive impact that receiverships can have on vacant/abandoned properties in cities across the nation was Mark Adams of the California Receivership Group. Mr. Adams is a friend and mentor of mine.
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