The Tipping Point...When Poverty Moves to the "Burbs"
By Lola Audu, Audu Real Estate~Grand Rapids, MI ~Welcome Home!
(Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate)
This past week, I was talking to a real estate broker about the Open House he had scheduled. After comparing notes about local market conditions, our discussion focused on an article that had been recently published in the Grand Rapids Press about sellers in Grand Rapids, Michigan renting their homes because they were having difficulty selling them. He said, " Lola, this crisis is everywhere. I am doing an Open House today in a home that is in foreclosure and there are a total of 3 in MY neighborhood."I understood. Not so long ago, forclosures were confined to areas where there was less economic growth. The suburbs seemed insulated from this scourge. Not long ago, brokers debated whether it was appropriate to disclose if there was a financial crisis as that might prejudice the sa...