Vacant, nuisance properties have become Kansas City’s latter-day plague, a kind of urban gangrene that can create a chronic downdraft in property values. In neighborhoods where the problem is severe, vacant houses draw rats, squatters, drug dealers, vandals and midnight dumpers.
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While the real estate market has lots of challenges during the COVID-19 pandemic, a tsunami of houses being sold by Airbnb hosts who can’t pay their mortgages isn’t one of them. HW+ Premium Content
HUD Secretary Ben Carson said the policy change “will give borrowers, lenders, and the market peace of mind as we continue our road to economic recovery in the United States.”