Foreclosures rising in Akron's suburbs

Foreclosures rising in Akron's suburbs

There are 70 comments on the Akron Beacon Journal story from Jul 8, 2008, titled Foreclosures rising in Akron's suburbs. In it, Akron Beacon Journal reports that:

While Akron remains the epicenter for Summit County's ongoing foreclosure crisis, people are losing their homes at a faster rate in many suburbs, according to a new Beacon Journal analysis.

Join the discussion below, or Read more at Akron Beacon Journal.

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marieb

United States

#67 Jul 9, 2008
Sarah wrote:
From middle-class Akron to ritzy neighborhoods like Bath and Hudson, foreclosure has become the great equalizer. Part of me smirks that Hudsonites are getting hit as hard as "just plain folk," but the smarter half of me is just dumbfounded. Not everyone who forecloses bought something they couldn't afford. Downsizing, layoffs, increasing costs in other aspects of life - these all add up to a lot of hearbroken families. Shameful.
You're right that not everyone in foreclosure bought houses they couldn't afford. There are many in the burbs whose home values dropped to where they owe more than the house is worth. Who knows when the value will come up. For those people, it's economically wise to walk away, let their house go into foreclosure and buy another house in 2 or 3 years. So don't feel sorry for ALL who lost their homes. They want it that way.
marieb

United States

#68 Jul 9, 2008
Ed Haas wrote:
<quoted text>
The banks do usually buy the houses, and end up selling them just as cheap usually. It's mostly used to make up SOME of the money. But bottome line, the middle class in NE Ohio is pretty much dissapearing. You either have a nice house, or you have a house that's about to get foreclosed on/bad neighborhood.
Time to leave Ohio if you can. I hear Texas, Colorado, and parts of Washington and Oregon are going through some pretty hefty growth spurts economically.
Colorado is a great state for taxes. I live in a 4600 sq ft house on 36 acres with spectacular mountain views and my property taxes are under $800.00 a year. Even sales taxes outside the city limits are only 2.5 %. Of course finding a job is another matter and you risk coming face to face with a rattle snake every time you go out.
Spirit of Reagan

Redwood City, CA

#72 Jul 9, 2008
marieb wrote:
<quoted text>
Colorado is a great state for taxes. I live in a 4600 sq ft house on 36 acres with spectacular mountain views and my property taxes are under $800.00 a year. Even sales taxes outside the city limits are only 2.5 %. Of course finding a job is another matter and you risk coming face to face with a rattle snake every time you go out.
Is there a "Hood Tax" in Colorado? We have one in Akron. You better pay it.
Spirit of Reagan

Redwood City, CA

#73 Jul 9, 2008
Yea Right wrote:
<quoted text>
I disagree. I don't feel bad for people who lose their homes, I don't buy a house because I know that I can't AFFORD to buy the type of home that I would want to purchase. Therefore I am still a renter. Why cut a break for people who bought houses that they knew they couldn't afford to begin with? My charge card is higher than I would like for it to be - Should the govt be reponsible for giving me a TAX CREDIT for a bill that I made? I think not! Credits come out of other people's pockets - preferable not mine! The government isn't going to help me pay my rent, so they shouldnt help anyone pay their mortgages.
Feeling sorry for a person doesn;t mean we have to bail them out. I do feel for people losing homes. Some of the cases are sad. But it is how the economy works - bailing them out is not the solution.
thurston

Canton, OH

#75 Jul 10, 2008
Just wait, when winter hits and your gas heat bill doubles.
Ed Haas

Heath, OH

#76 Jul 10, 2008
thurston wrote:
Just wait, when winter hits and your gas heat bill doubles.
Just get on the payment plan. Sure, you have to pay the set price ($150-$180) during the summer months, but you won't have to deal with opening your mail to $400 gas bills in January. Just an option.
Ed Haas

Heath, OH

#77 Jul 10, 2008
marieb wrote:
<quoted text>
Colorado is a great state for taxes. I live in a 4600 sq ft house on 36 acres with spectacular mountain views and my property taxes are under $800.00 a year. Even sales taxes outside the city limits are only 2.5 %. Of course finding a job is another matter and you risk coming face to face with a rattle snake every time you go out.
I'll take the rattlesnake risk with having mountain views, a decent job, and a culture I can relate to.:)
going

Canton, OH

#78 Jul 10, 2008
Ed Haas wrote:
<quoted text>
Just get on the payment plan. Sure, you have to pay the set price ($150-$180) during the summer months, but you won't have to deal with opening your mail to $400 gas bills in January. Just an option.
Good suggestion, but my bill for Jan 08 was $365, scary to think what it will be Jan 09.
Machine Gun Joe Viterbo

Sheffield Lake, OH

#79 Jul 10, 2008
marieb wrote:
<quoted text>
Colorado is a great state for taxes. I live in a 4600 sq ft house on 36 acres with spectacular mountain views and my property taxes are under $800.00 a year. Even sales taxes outside the city limits are only 2.5 %. Of course finding a job is another matter and you risk coming face to face with a rattle snake every time you go out.
Well you take a risk every time you go through akron too.

The rattlesnakes carry guns not just big teeth.

Since: Mar 07

Danville, CA

#80 Jul 10, 2008
Ahau Kin wrote:
Akron is a dying city. No amount of pontification in this forum changes that simple fact.
There aren't enough good jobs to go around. There isn't enough work for what manufacturing jobs are left. People get laid off and can no longer pay down the mortgage.
Pick ANY neighborhood street in Akron. Drive around the block. Count the number of 'for rent' and 'for sale' signs you see on abandoned houses. There may be others with no signs at all.
Tell me, if you have wisdom to see, what is this symptomatic of? WHY is Akron hemorrhaging population?
What is being done about it? What CAN be done? How will those in power turn this thing around? Put in a 'call center' for 'teleservices'?
It is a lengthy process, but you are all witnessing the decline towards extinction of what was once a proud city. I shouldn't be surprised to learn the entire state is affected.
".....the kings and councillors of the earth, who build desolate places for themselves."
It's not just Akron. It's that whole region.

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