Five years after the housing market collapsed, America’s economy is still weak. Unemployment and under-employment rates remain extremely high and families are struggling. The foreclosure crisis remains a major drag on our sputtering economy: homeowners are burdened by huge debts and record-high foreclosure rates continue to sap wealth and savings out of neighborhoods.
In this webinar, hosted by Local Progress (http://www.localprogress.org) and the Home Defenders League (http://www.homedefendersleague.org), policy experts discussed how municipalities can help end the foreclosure crisis and generate economic growth by using eminent domain to reset mortgages to a fair market value. They talked about an innovative and powerful new proposal that cities around the country are considering in order to protect the value of houses.