Are we out of the depression yet? I've heard some in politics say that we are on our way out bet then I read this story and that doesn't even seem possible. Individuals who are home owners have been feeling the market conditions for awhile. What about those who rent? In the Bronyx, Harlem, Pheonix and several other cities across the U.S. there are many apartment units that are decaying under the tenants feet. From trash piling up, to no hot water to just outright dangerous living conditions.
As a home owner last year I started to feel the effects of the economy. I sold my house and thought I would rent for awhile until the economy turned around. Well the above article makes my decision look like that was a crazy idea. The owners of these multiple unit buildings are just letting maintenance go. They are not putting any money into the properties to fix what is breaking. Some have even let the utilities go unpaid so then the cities have had to step up to take care of that.
Most are owned by management companies that have filed bankruptcy, are delinquent or have been in foreclosure. Was the rent received by these companies not enough to maintain the buildings and other expenses? Maybe some the management of the funds received was not well looked out for. Either way the tenants pay the price - rent and problems.
All of this leads me to wonder where else are these renters to go? Who can step in to solve the issues at hands. If our government can't shelter and feed the homeless of this country then how are they going to help the thousands that are now in this situation? Thank God that my family has a roof over our heads, food on the table and hot water to enjoy!
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