Where do people go after they are foreclosed upon? There's not a legitimate statistic that I could trust, but here's a data.
: 20% buy another home
: 40% are homeless, living in their vehicle or living in homeless shelters
: 20% move in with friends and/or relatives
: 20% move out-of-State.
Most websites I saw claims that people go to their relatives or friends, others rent a house that is less expensive than their monthly mortgage, and the rest goes elsewhere..
When we use the term "homeless", we're including those who are temporarily living in shelters and other people who are not on the streets. I guess you could call people who moved in with friends and other people could be referred as homeless in a way?
That 40% homeless statistic is pretty shocking. I know the situation is bad, but how can people have literally no options? I think big banks/business need to start stepping in and providing more options for people so that they don't have to turn to the streets. Without a suitable place to live these people are only falling further from respectable living and getting out of debt.
ReplyDeleteI agree with Dane, the homeless percentage is ridiculous and does not look good for our nation. This shocking issue is all due to the unemployment rate and struggling economy. And seeing the other percentages being all equal is a little odd, but I feel like all the situations should decrease. In order for this to happen,banks and the government need to step in and find a solution for foreclosure.
ReplyDeleteI agree with both above about the homelessness. I cannot believe that once they are foreclosed upon. I agree that people who move in with their families or rent are homeless but i never consider them homeless. When I think for homeless, I think of people who are in torn clothes, not people who are foreclosed on with their family or rent a home. Interesting concept.
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