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Federal officials have also made efforts to re-populate foreclosed homes. In August, the Obama administration was reportedly in talks with investors to turn thousands of government-owned foreclosures into rental properties.
In addition, two Senators introduced a bill earlier this week offering foreigners U.S. residency visas pending a $500,000 or more investment in the American real estate market. The effort aims to revitialize the housing industry by building on increased foreign interest in U.S. homes, the prices of which have dropped by 32 percent since the peak of the housing boom five years ago.
But it’s not only state and federal governments that are itching to fill up so many empty homes. New York Times reports that foreclosed homes in Jamaica, Queens are increasingly becoming hotbeds for criminal activity. Those foreclosed homes have filled up with “drug dealers, addicts, prostitutes, gang members, squatters and copper thieves,” NYT reporter Michael Wilson writes.

See the full article from “Huffington Post”