The Lafayette Journal and Courier has an interesting article on sales of homes by the Department of Housing and Urban Development. According to the article, HUD is the largest seller of homes in Indiana.
n a climate of increasing numbers of foreclosures, HUD has become the largest seller of homes in Indiana. According to a Journal & Courier analysis of statewide sales disclosure data, HUD was listed as seller in 7,516 transactions compared with 6,270 sales for home builder C.P. Morgan from 2004 through 2006.
That’s not a good sign.
I’d like a disclosure of how many of these foreclosed homes are actually “owned” by the casino boats. I had a friend who worked for the Michigan City newspaper who told me that most of the foreclosed homes in that area were gambled away to the Blue Chip Casino.
Up here in Lake County, we’re also losing homes to the property tax fiasco.