Who's Buying Foreclosed Homes and Why It's a Problem

Foreclosed homes tend to be problems for cities. They sit there, empty, unkempt, just asking for someone to break in. What they need and what governments at basically every level want is someone to buy them. Own them. Love them. Live in them.

So when a foreclosed property gets sold, the problem’s solved, right? Well, not exactly. According to a new study published in the Journal of Planning Education and Research, property sales don’t lead to solutions because often the people buying foreclosed properties from banks are also investors looking to resell the property. But these predominantly small-time investors typically have fewer resources to spend on maintaining their homes as they sit on the market and wait for new buyers.