TIDAL WAVE OF EVICTIONS the result of REOS.
http://www.oregonlive.com/front-porch/index.ssf/2015/10/wave_of_evictions_leaves_rente.html

                                       

EVERYBODY OUT OF THE BUILDING!!!

http://www.dallasnews.com/opinion/commentary/2016/10/12/city-must-prevent-west-dallas-eviction-disaster

The eviction of more than 300 low-income families by HMK Ltd. must be stopped. Tenants who rent from slumlords are punished year after year with substandard conditions and threats to their health and safety, while the landlord enjoys the cash flow from deferred maintenance and waits to reap financial windfalls as the neighborhood is destroyed by gentrification and redevelopment. This process is well underway in West Dallas.  

These tenants also suffer from their Johnny-come-lately protector, the City of Dallas. The city's aggressive use of code enforcement without any funds for relocation of tenants or plans to stabilize an affordable community like West Dallas ends up displacing the families it was supposed to help. In the process, Dallas loses desperately needed housing that is affordable to lower-wage working families. Wesley-Rankin Community Center and Dallas Area Interfaith may be "frantically seeking options for emergency shelter for HMK renters," but sending an entire community to the homeless shelter is no answer.

REOS ARE THE SOURCE of PROBLEM. BANKS GET ALL THE REAL ESTATE that isn't tied down. FORECLOSURE happens FIRST. SEE: http://www.investopedia.com/terms/r/realestateowned.asp

 The City of Dallas needs to take immediate and innovative action to prevent this disaster. For example, the city could take receivership of the HMK properties and force repairs. Perhaps the city could provide zero interest loans to the tenants to acquire and rehab these houses.

According to the U.S. Department of Housing and Urban Development, it costs about $40,000 a year to serve a homeless person on the streets. Rather than finding shelter space for the tenants after eviction, city officials should come up with the funds to help the West Dallas tenants purchase their homes. More than half of the HMK homes are listed on the Dallas Central Appraisal District's site at less than $11,000 and almost all are listed at less than $20,000. It makes sense for the city to invest that $40,000 in the 305 families to remain housed in rehabbed units. 

The city routinely helps developers build housing. Earlier this year, the Dallas City Council gave more than $7 million in tax increment financing funding to Henry S. Miller to build 292 apartment units, and more than $11.2 million in TIF funding to Matthew Segrest for the Alamo Manhattan project in the Bishop Arts District, which will include 209 residential units. 

In exchange, the developers are required to set aside a minimum of 20 percent of the units for affordable housing. In Henry S. Miller's deal, rents must be no more than 30 percent of the median income for 80 percent of the area. Reality check: this amounts to $1,004 for an efficiency apartment. That's hardly affordable for low-income people.

The Dallas City Council has doled out $18 million to two wealthy developers to provide only 100 units of "affordable" housing.  What's stopping the council from investing a few million to allow 305 struggling families to buy a piece of the American Dream? What stopping the council from working with the tenants, respecting their rights, affirming their humanity, and actually doing something to stop the destruction of their neighborhoods? 

If nothing is done, this outrage will be only the start of a wave of displacement and redevelopment that will result from the unholy alliance of aggressive code enforcement and market forces, along with a complacent council, to drive poor people out of all neighborhoods near downtown. 

Sandy Rollins is executive director of the Texas Tenants' Union. Email: sandy@txtenants.org

Our 'POSTER-BLOGGER' is ANITA SANDS HERNANDEZ, Los Angeles Writer, Progressive activist, Conspiracy Researcher,  mother of 4, grandmother of 6, also a career Astrologer. Catch up with her websites TRUTHS GOV WILL HIDE & NEVER TELL YOU, also The  FUTURE, WHAT'S COMIN' AT YA! FRUGAL LIFE STYLE TIPS,  HOW TO SURVIVE the COMING GREAT DEPRESSION, and Secrets of Nature, HOLISTIC, AFFORDABLE HEALING. Also ARTISANRY FOR EXPORT, EARN EUROS....* Anita is at astrology@earthlink.net ). Get a free natal horoscope "my money/future life" reading now + copy horoscope as a Gif file graphic! No smarter reading out there anywhere near that price.

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