Metropolitan Institute Visiting Fellow John Russo, has published a new article in New Geography, titled Fighting the Vacant Property Plague. Russo digs in to the issues surrounding banks abandoning foreclosed properties and how cities are innovating to address the growing blights.
Community residents throughout the country have seen properties abandoned and subjected to negligence. Hundreds of these deteriorated properties are owned by banks – Bank of America and Wells Fargo, among others. And although, these banks claim they strive to comply with property codes and act upon foreclosure policies “that aim to protect properties and communities,”
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