Sunday, February 15, 2009

The Effects of Distressed and Abandoned Properties

How does Caledonia Construction Contributes?

Caledonia Services and activities

Total property rehabilitation, building retrofit, building envelop improvement, energy efficient replacement windows, building weatherization, REO clean out and secure

The effects of distressed and abandoned properties

Distresses and abandoned properties in inner city areas should be quickly rehabilitated to reduce their devastating effects on people's lives, to enhance the stabilization of depressed communities, and to aid in the revitalization of older cities and towns.

The abundance of distressed and abandoned properties, a fall out from the foreclosure crisis, has continued to have a devastating effect on people's lives.These properties have adversely affect property values curtailing refinancing opportunities at a time when interest rate are historically very low. They have cause the blighting of once rejuvenated areas of many inner city communities. Some of these areas such as the Dorchester neighborhood of the city of Boston were actually on a up swing after years of disinvestment and now they are exceptionally challenge because of the current crisis.

The government Neighborhood Stabilization Program is a necessary tool in the effort to stabilize these depressed communities. Indeed, it is a vital tool that will provide economic and social benefits in the forms of job creation, housing choice and environmental improvement. It is expected that NSP will generate immediate construction activities creating over 90,000 jobs in skilled and unskilled trades. Most of the job will be generated in in low and moderate income neighborhoods where they are most needed. The NSP will create the housing options ranging from very low income to middle income a combination necessary for vibrant inner city
communities. And, third, the environment improvement will be measurable. The improvement work will be energy efficiency focus, it will utilize existing properties thereby rejuvenate abandoned and distressed properties bringing them back to useful life.

The long term benefits of rehabbing these distressed properties are the revitalization of older section of cities and towns. In truth, many of these areas have long suffered disinvestment and neglect, revitalizing them could be what the national economy needs at this time to create jobs needed to enhance its economic recovery goals.