Indianapolis To Consider Plan Addressing Thousands Of Abandoned Homes

In Indiana, The Indianapolis Star reports:

• Mayor Greg Ballard's administration plans to develop a strategy to address the thousands of abandoned houses in Indianapolis, including hiring someone to spearhead the effort.

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• More than 7,000 abandoned buildings in the city can be traced in part to a massive rate of foreclosure brought on by personal bankruptcies, job losses and illicit real estate schemes. The schemes were enabled when mortgage lenders throughout the nation funneled cash to shady investors under the easy loan standards that were common earlier in the decade, real estate experts say.

For more, see City to develop own plan to revive neighborhoods.

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