Bummed About The Foreclosure Crisis?

February 18th, 2008 - - Filled in: Business/Consumer

Numerous buying opportunities have developed in the wake of the recent foreclosure crisis. Websites such as ForclosureRadar.com provide up-to-date information on every foreclosure opportunity available in California, including exclusive daily updates on every auction. However, the real beneficiaries of the increased foreclosure supply are the homeless.

Think about it. A newly foreclosed home may still have running water, electricity, and other working utilities. Finally! A way for the homeless to keep up with the Joneses…a shopping cart in every driveway. The foreclosure supply obviously varies from town to town. I know San Antonio isn’t nearly as bountiful as it is in Cleveland where this phenomena is taking place. There are an estimated 15,000 single-family homes vacant due to foreclosure in Cleveland and suburban Cuyahoga County.

“Many homeless people see the foreclosure crisis as an opportunity to find low-cost housing (FREE!) with some privacy,” Brian Davis, director of the Northeast Ohio Coalition for the Homeless, said in the summary of the latest census of homeless sleeping outside in downtown Cleveland.

Unfortunately “privacy” may potentially translate into “crime”…drugs and prostitutes. Sorry, Hugh Grant. You’re about 12 years too late to take advantage of one of these safehouses. Present celebs take note! Cleveland is the place to be!

Courtesy AP via Yahoo! Finance.

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