The world I'm looking at is some minority dominated outskirt of Detroit where predatory lenders took advantage of people who didn't understand, with no regulator saying no, because market forces solve all.I kinda doubt that that's your actual neighborhood, Loki, but OK, maybe. OTOH, I do live in an older near city neighborhood, and the city has bought a few houses in the area. The renters, low income minority families, in general, are difficult neighbors. The cultural divide is large, and they have no personal equity in the neighborhood. They are usually nice people, as people, but they don't have the "living peacefully and quietly next to others" bit down. Don't think for a minute that your city will not buy some of these foreclosures, regardless of where they're located. You may wind up with the neighbors from hell, like we do at times. When the city starts buying these properties, then you can really have a neighborhood in trouble.Hedge
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