Crime increases after wave of forclosures!
Written by admin on November 13, 2007 – 4:08 pm -
Middle-class, new developments reeling from vacant homes, shady renters
No, really? I wonder why this would be? I mean, when people have no money to pay for housing or other necessities, what do you think they will do?
As defaults surge on mortgages made to borrowers with spotty credit and adjustable-rate loans, more people are noticing that their neighbors are caught up in the meltdown. Their misfortunes are haunting those left living on the same streets. The effects aren’t confined to just low-income or redeveloping communities; they are seeping into middle-class neighborhoods and brand new developments.
Georgia has the eighth largest foreclosure rate in the nation, one filing for every 142 households, according to a third-quarter report from foreclosure tracker RealtyTrac Inc. Nevada has the worst rate with one filing in every 61 households, while the nationwide rate is one filing for every 196 households.
“They’ve seen a lot of prostitution in the area, vagrants wandering in and out of the empty houses and drug activity,” said Officer Dakarta Richardson of the Atlanta Police Department. “Some people that I talked to are afraid to walk out of their homes at night.”
However, “the problem now is on a different scale,” he said. “It’s affecting a lot more suburban, moderate-income places” as more people of different incomes default on riskier loans.
That’s just a little bit of what is starting to happen because of all of these forclosures. Here is alittle hint for you all, ” it is just getting started!” That is right, it is just getting started. The bulk of the adjustable rate mortgages are just starting to reset. The problems we are seeing are from the few that already have reset six months ago. Now let’s wait and see what things will be like six months from now.
Oh, and another thing. What do you think will happen to all of these illegal aliens that were here building these crappy overpriced houses? You think they will go home when there is no work? WRONG! They will do what ever it takes to survive, and that includes crime. Better watch your back!
Tags: crime, forclosures, increase, recession
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