Rising mortgage delinquencies and foreclosures signal growing housing affordability crisis
By
, USA TODAY
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Summary
The article examines rising mortgage delinquencies and foreclosures in the U.S., particularly in areas like Painesville, Ohio, which was hit hard during the 2010s foreclosure crisis. Patricia Kidd, executive director of the Fair Housing Resource Center, observes that soaring housing costs are straining residents' ability to afford homes. The piece highlights that federal policies are reducing homeownership assistance just as mortgage distress begins to increase, signaling a potentially troubling trend in the housing market.
Key quotes
· 3 pulledFrom her office in Painesville, Ohio, just north of Cleveland, Patricia Kidd has a front-row seat for the ups and downs of the housing market.
The area was often considered the ground zero of the 2010s foreclosure crisis, but since then, soaring housing costs have had many residents struggling with the same affordability issues as the rest of the country.
Federal policies are making homeownership assistance less available just as mortgage distress has started to creep higher.
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