Foreclosures are leaving behind a trail of cursed vacant houses both in the suburbs and the cities. The menace is alarming and vexing communities who do not know what to do with the growing menace.
Arizona officials have not yet found a tool to handle raucous parties held in boarded houses. Invitations are sent by text messages. In Atlanta the situation is so bad that the law enforcing authorities found a person building a new house with materials entirely stolen from abandoned houses.
It is the same story in leafy surroundings off Atlanta where crickets chirp. In Charlotte about 2.2 millions are expected to go into foreclosure and then stand in grand isolation deserted and empty. By the time the foreclosure crisis would have run out of steam, according to Global Insight, this is going to be the scene. As Walls Street grumbles, far away ghost towns will rear its ugly head surrounded by weeds, garbage and sighs. Since the Great Depression, America has not seen the likes of this situation.
While Rome burns, Nero plays the lyre in Washington presiding over lengthy arguments over a foreclosure rescue package bill. The mayors held a meeting in Miami to vent their frustration about the foreclosure curse of reo homes. The cities are short of cash but overburdened with added responsibilities arising from these reo houses. Crime increases with rising foreclosures while the blame game goes on as to who and what started the foreclosure fires – the sub-prime mortgage or the economic slump. Was it the chicken or the egg?Experts make noises about ‘market correction’. Professor Joseph Schilling of Virginia Tech’s Metropolitan Institute in Blacksburg comments “This isn’t just blight in the urban core; it’s blight and abandonment in new suburban communities, and that’s just never happened before.”
In some cities like Orlando and Charlotte liens on the empty foreclosed houses have doubled or tripled harbouring a hope that one day the money will be realized while for the moment the properties will be saved. In California and Arizona there are houses standing eerie and silent worth half million dollars each. Swimming pools are turning green, weeds are growing high and vagrants move in together with the slow encroachment of the wild mocking at man-made institutions.