Houston and Harris County are going to start to begin buying and remodeling homes that were foreclosed and sell them to low and middle income families. They received a $28 million dollar federal grant to try and help the subprime mortgage crisis. The city will use the money in two different ways. They are going to buy and demolish homes that were abandoned and foreclosed so builders can construct new affordable homes to sell. They would also like to find a nonprofit housing group to help in the renovation process of homes for low income families.
This article shows how the city of Houston is being proactive in trying to helps its residents and keep the city thriving. The huge economic crisis has put strains on nearly everyone and this is just one of the many solutions that will be needed. Houston remains to be an innovative and problem solving city and this is just another example.
http://www.chron.com/disp/story.mpl/front/6111600.html
