How Local Governments Can Fight Back Against the Foreclosure Crisis

Wednesday, 01/18/2012 - 9:52 am by Kristen Tullos

Cities can use local housing codes and land banks to push back against banks’ reckless behavior.

Since the beginning of the economic downturn, Congress has passed numerous pieces of legislation aimed at stabilizing the housing market. Their legislative efforts succeeded in stabilizing financial markets, but foreclosures have continued unabated, affecting families and neighborhoods across the country. While the foreclosure crisis continues to be a drag on the economy, its effects are felt most acutely in communities and neighborhoods.