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Reservoir run dry

The Washington Post led its business section today with a front-page story about the foreclosure crisis and how it affects gentrifying urban neighborhoods like Baltimore’s Reservoir Hill. The article centers on a debate in Congress over $4 billion in emergency aid to bail out homeowners such as those in the central Baltimore neighborhood, whose investments presumably would have changed the area for the better. Baltimore Housing commissioner Paul Graziano is quoted criticizing the current presidential administration, saying, “They don’t understand the market dynamics here at all…We can let the market adjust and see the last seven or eight years of investment go down the tubes. Or we can intervene now to reclaim this inventory and protect these neighborhoods.”

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  1. good catch Whelan. Good reporting.

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