More homes are sitting empty as lenders take them over through
foreclosure and try to resell them, especially in depressed South Side
neighborhoods with a lot of subprime lending activity.
"They're not getting snatched up by investors," says Michael van
Zalingen...
Bank-owned properties "are just going to keep stacking up."
Englewood has a 16.1% vacancy rate, the highest in the city, and North
Lawndale's vacancy rate is 11.8%, according to Neighborhood Housing
Services data. -
Source
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| The walk from the bus stop to my school - many vacant houses are out of view. |
If I had a lot of money, I'd buy a bunch of cheap vacant houses in North Lawndale and turn them into cozy community centers, art and theater schools, and preschools. There are certainly enough qualified unemployed people in the communities to hire.
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