The Greening of Homes in Michigan’s Foreclosure Listings

Michigan foreclosures are surging ahead towards double digits with the number of homes in foreclosure listings increasing by 10 percent from January to February of this year. In February alone, one in every 360 properties is in danger of being added to the state’s foreclosure listings.

Michigan, particularly Detroit city, is one of the areas hardest hit by the economic crisis. Foreclosures and the failing automobile industry have weakened the city’s economy. The city has the highest number of homes in foreclosure listings in the U.S.

Since 2000, about 150,000 people in Detroit have lost their jobs to downsizings in the automobile industry. Aside from this, Michigan has the highest share of subprime mortgage loans in the country and the highest number of jobless people.

Meanwhile, the increasing number of homes in foreclosure listings in Detroit has pulled the average sale price of properties to $7,750. Added to this is the rise in automobile theft, vehicle burglaries and insurance fraud which resulted to the increase in the cost of the average automobile insurance policy to almost $5,072.

The morale of people in the city has been severely affected by foreclosures and unemployment that only about 14 percent of residents turned up to vote in the mayoral election last February and more than half of the total number of high school students dropped out.

What could Detroit do to improve its deteriorating economy and boost the sagging morale of people? One suggestion is to buy homes in foreclosure listings and convert them into green spaces.

It is suggested that Detroit could turn homes in foreclosure listings into nature parks and preserves. By pursuing green urban renewal programs, the city could lessen the environmental damage caused by the automobile industry and at the same time, improve the health and mental state of its citizens.

Studies showed that green spaces made inner city children healthy and happy. The health benefits of greenness on children and youth include lessening symptoms of attention deficit hyperactivity disorder and improving cognitive functioning.

Results also indicated health benefits of greenness on adults, such as reducing stress, lowering body mass index, shorter period of post-operative recovery and improving self-reported health.

Experts believed that converting repossessed properties into urban gardens, parks and wildlife sanctuaries may go a long way in revitalizing the city.

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