Tammerlin Drummond: Foreclosure blight a plight for Oakland neighborhoods

We all know why a glut of foreclosed houses has saturated the market. Either through greed or ignorance, people got into mortgages they couldn’t afford. DataQuick Information Systems, a real-estate research firm, reported Tuesday that 63,061 houses were lost to foreclosure in the second quarter of this year — the highest level in 20 years.

The result is that some communities, mostly poorer ones, are drowning under the weight of neglected, abandoned homes.

Source: Oakland Tribune · 07-22-08 · No Comments »

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