Monday, November 30, 2009

NYC foreclosures

The Daily News highlights the situation in South Jamaica, where subprime loans and subsequent foreclosures have had harsh consequences on many streets.

The article's terminology is a bit misleading, though: most of the people quoted are not really squatters. They were renting the homes when the owners hit financial trouble and, essentially, abandoned the properties. So they are not squatters. They are tenants. And there ought to be a law that, when owners abandon a property, the tenants get the opportunity to keep the electricity on--because burning candles and kerosene lamps can lead to fires. If the owners walk away from the properties, the banks should also make an effort to keep the services on for the tenants who are left in dire conditions through no fault of their own.

1 comment:

Sonal said...

I'm a Columbia University Journalism student working on a story on foreclosures, tenant's rights and squatting in NYC. I'd like to talk to you about it - my email is