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- Jul 18, 2012
This is a long, but GREAT read. This specific article is actually part 2 in a 3 part series (I'll link the others). Anyways, I can't remember the exact thread, but last year, there was a good discussion about why PG County in MD can't really flourish. Some of the points brought up (subprime mortgages, shady lenders, schools, etc.) were all touched on in this article. Cliffnotes won't do it justice, but if you're interested, it's well worth taking time out of your day to read. Sad situations all around. There are people now benefiting from getting sprawling homes at a fraction of the price due to buying off of a short sale/foreclosure, but on the flip, it was sad reading about the downfall of this Fairwood community and it's original residents.
Broken by the bubble: In the Fairwood subdivision, dreams of black wealth were dashed by the housing crisis
Part 1:
A shattered foundation: African Americans who bought homes in Prince George’s have watched their wealth vanish
Part 3:
Swamped by an underwater home: After the housing collapse derails the American Dream, a cloud of uncertainty hangs over the Boateng family
*I'll get to parts 1/3 later on today.
Broken by the bubble: In the Fairwood subdivision, dreams of black wealth were dashed by the housing crisis
Part 1:
A shattered foundation: African Americans who bought homes in Prince George’s have watched their wealth vanish
Part 3:
Swamped by an underwater home: After the housing collapse derails the American Dream, a cloud of uncertainty hangs over the Boateng family
*I'll get to parts 1/3 later on today.