Friday, September 30, 2011

Foreclosure's Impact

After visiting our Oshtemo neighborhood yesterday morning I was taken back by the large number of foreclosures in a relatively nice subdivision. Arriving at the neighborhood, I was impressed with the neatly mowed lawns, detailed landscaping, newly paved roads and sidewalks, and the overall orderliness of the community. After seeking out some of the foreclosed properties in the area, we witnessed a stark contrast between these homes and the rest of the neighborhood. Front lawns were left in shambles, exteriors were poorly kept, and trash was scattered around. My overall takeaway from this experience was my recognition of just how far the debt and foreclosure crises have spread. Even more affluent groups are being forced into foreclosure as they struggle to deal with financial management and declining home values. This just goes to show that no one is safe from these struggles and all groups of people must be aware of the consequences of their spending habits.

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