Dayton, Ohio’s Foreclosure Ground Zero

By: Diane Tuman, Content Manager | June 9, 2008

You might not be at risk of foreclosure, but your neighbors might be, and their neighbors, and theirs, and so on. That is the story of ground zero for foreclosures in Dayton, Ohio, as reported in today’s Dayton Daily News: In a four-block area of Dayton, Ohio, 45 homes foreclosed and were sold at a sheriff’s auction. On one block alone, 15 of 28 properties were sold at auction. Some homes are abandoned, boarded up, burned out or now occupied by drug dealers.

Dayton’s dwindling population and high amount of abandoned residences, buildings and vacant lots is costing the city $12.4 million in lost tax revenue and city services. Maybe Dayton should follow Youngstown’s plan of razing thinly populated blocks. Watch this a riveting video of those affected by Dayton’s foreclosure crisis. It’s a grim reminder that once things start to tumble, it affects us all.

Are you at risk of foreclosure? Check out these Six Steps in Avoiding Foreclosure.

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Categories: Real Estate, Zillow

Comments

3 Comments so far

Sell My House on June 10, 2008 9:39 am

Just another example of our tax dollars paying for the foreclosure crisis. There is a law that will soon be passed that will release 1.7 Billion dollars of tax payer money to help stop foreclosures.
Layla on July 11, 2008 7:59 am

Hopefully, Dayton’s existing residents can hold onto their homes and avoid foreclosure.
Schumacher Homes on September 19, 2008 10:11 am

Custom built homes are the best way to go in my opinion. That way you get exactly what you want from your new home and you won’t need to spend all of that extra money on remodeling.