It was the best of times, it was the worst of times
This week I overheard a realtor say, “The people that lost their jobs on Cape Cod did not own a home.” That statement didn’t seem right to me when I heard it, and within a few hours, I got an email that confirmed my suspicions. Another realtor emailed me encouraging me to get involved with the Housing Assistance Corporation, and in that email were some incredibly shocking statistics about the other side of the Cape Cod real estate boom. There are two real estate markets on Cape Cod, one is booming, and the other is falling apart. I’ve been writing about this for the last two months, and there is growing evidence that there is a dark side to this current trend on the Cape. Here’s a quote from the article and a link to the rest of the story from the HCA.
“Since mid-March, Housing Assistance has witnessed a record spike in the number of households seeking rent and mortgage assistance to stay in their homes. Compared to the same period last year, Housing Assistance has witnessed a 325% increase in foreclosure prevention requests and a 413% increase in requests for help with past-due rent. “— HAC
Housing Assistance Corporation or HAC is a registered 501(c)(3) non-profit and offers a continuum of housing programs that evolve with the changing needs of the community. HAC educates, trains, and counsels with HAC’s consumer education department; weatherizes and conducts energy rehabs for low-income and market-rate properties; develops affordable housing for seniors, families, and individuals; and provides an opportunity to become a homeowner with a full-service nonprofit real estate office.
HAC also provides emergency shelter and homelessness prevention assistance for individuals and families; administration of the largest housing subsidy program in our region; and family self-sufficiency and employment services.