PICAYUNE — One of the many unintended consequences of the political crusade for increased homeownership among minorities, and low-income people in general, has been a housing boom and bust that left many foreclosed homes that had to be rented, because there were no longer enough qualified buyers.
The repercussions did not stop there. Many homeowners have discovered that when renters replace homeowners as their neighbors, the neighborhood as a whole can suffer. The physical upkeep of the neighborhood, on which everyone’s home values depend, tends to decline. “Who’s going to paint the outside of a rented house?” one resident was quoted as saying in a recent New York Times story.