Couple of stories in yesterday’s Globe that you probably saw, but in case you didn’t.
Broker’s clients detail web of dashed dreams – By Kimberly Blanton, The Boston Globe
Over the past couple of years, a lot of people bought homes they can’t afford. You may have heard about that. In some cases, the buyers were poor credit risks and/or borrowed more than they should have. A lot of the time, they couldn’t even afford to make their first payments, which only got worse once their adjustable-rate loans reset.
In some cases, fraud was committed, either by the borrowers or their lenders.
The Globe ran a story about this woman who apparently forged a lot of loan applications and documents. Over and over again.
The borrowers, of course, claim ignorance about the whole thing.
Amazing story. No one comes out looking good, in the end.
(** Point of clarification: the first person profiled is Marcia Neilson, a woman who “bought a Dorchester house” according to the reporter. Makes it out to seem like she was taken advantage of. Well, sort of. The “house” was actually a two-family home, so the woman who bought it wasn’t so much a “homeowner” as an “investor”, which, of course, frames the story a little differently. Also, it’s not as if the homeowner investor was completely ignorant. She put down over $100,000 at closing, according to the public record. Was she taken advantage of?)
As gentrification spreads, rich, poor seek a balance – By David Abel, The Boston Globe
The South End of Boston has more low- and subsidized-housing units than any other neighborhood within the city. It also has a couple of shelters for the homeless or recently homeless.
Some people are proud of this. And/or satisfied with the status quo.
Other people, however, are not totally happy. Or, to be perfectly clear, they’re not so pleased with having to watch homeless drunk guys urinate out their back door or get into fights in front of them and their children.
As gentrification spreads to nearly every corner of Boston, the city’s largest homeless shelters, once outposts in rough-and-tumble neighborhoods, have found themselves surrounded by pricey condos, luxury hotels, and ritzy restaurants.
The encircling development has created a clash of cultures and complicated relationships, as the rich butt up against the poor, business owners try to scrub out the malcontents, and patrons question whether to venture into uncharted territory.
“The new environment will be a continuing challenge that requires a great deal of faith, a willingness to listen, and avoiding jumping to stereotypes, on all sides,” said Lyndia Downie, president of the Pine Street Inn.
To some others, though, even just bringing up the subject leads to immediate criticism.
I give you the South End Is Over blogger:
An interesting article on the homeless and local gentrification by David Abel appeared in today’s Boston Globe. As usual, some Nouvelle South End residents expressed their displeasure at having to come into contact (well, only visual contact) with, gasp, homeless people!! Can you imagine?!
People who have had their parents pay good money so that they could live in a homogenized, white-bread, Pottery Barn inspired community are having to look at filthy homeless people – where they live, where they eat, even where they buy their heirloom tomatoes!!
Of course, the Pine Street Inn (a homeless shelter located off of Harrison Avenue in the South End) is to blame for the hordes of homeless causing mayhem in our visual landscape.
What’s right, what’s wrong?
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