September 22, 2009
Job loss = evictions = high vacancy = deeper crisis
The economic crisis and loss of jobs add to high vacancy in rental housing. Until recently, high health
A study by Depaul University shows that with unemployment hitting blue collar workers more, low and moderate income neighborhoods are hit much harder by vacancies, which add blight to communities.
The report indicates that the unemployment and the slow economy have lowered incomes and have caused many families to "double up" or move in with another family resulting in a stagnant rental market and higher vacancies.
The Chicago Rehab Network has a summary of the nearly 7,000 foreclosures in Chicago in just the first 3 months of 2009 -- and the main "corporate criminals" responsible for these evictions.
Health care crises and job loss (which often means loss of health insurance) are leading causes of foreclosures and bankruptcies.
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