Lead Poisoning Crisis Sends Flint Real-Estate Market Tumbling
MarketWatch, Feb 17, 2016–Goldstein, Daniel
The Flint real-estate market had long been depressed after the loss of many jobs in the nearby auto industry. The water poisoning crisis at the end of December dropped selling prices to $30,700, according to Zillow.com. “The difficult issues raised in Flint go beyond just Fannie and Freddie, but essentially they revolve around the balance between protecting the health of borrowers without decimating home values in an area that is already facing serious struggles,” said David Stevens, president of the Mortgage Bankers Association.
