Crime Rates on the Rise
The mass foreclosures in many major US cities are forcing those who have managed to remain out of the crisis to consider moving for crime rates are on the rise as people turn to crime for a way of earning much needed cash. Some city management arms have already considered shutting-off whole neighborhoods in certain city areas that have been left abandoned, most of their homes foreclosed with nobody buying them. They become haven for criminal gangs who propagate through these empty homes using them to shield illegal activities. City’s are also considering buying some properties from lenders so they can maintain them and thus keep the ones who still have homes in their homes, keeping them off the streets lessening their problems.
Homeless people are also on the rise as people get thrown out of their homes, foreclosed as they fail to make mortgage payments. Lenders were hoping that the gains made last month would have signified the turn-around but it was a temporary effect, brought about by the billions of dollars the government pumped into the pockets of people and businesses to bolster their ability to weather the storm.