Event Title

Kent County Rental Properties in 2000 and 2010

Location

Hager-Lubbers Exhibition Hall

Start Date

16-4-2013 3:30 PM

Description

PURPOSE: A report sponsored by the Johnson Center’s Community Research Institute states that beginning in 2004 until April 2012; the number of foreclosed homes in Kent County reached 20,684 units. This report also indicated that there are currently 2,009 homes owned by someone other than a resident with another 815 in process of foreclosure. Different foreclosure strategies were developed to prevent residents from losing their homes. These approaches included counseling, repayment plans, and loan modifications. I believe some residents may have opted to rent out their homes in lieu of a foreclosure or short-sale. SUBJECTS: County level data for drunk driving convictions was compiled from the Michigan State Police’s 2011 Drunk Driving Audit. METHODS AND MATERIALS: I used ArcGIS to convert the US Census data of rentals into shape files and then mapped the percentages of those two years for Kent County. Using the same methods, I also mapped the change in the percentages for the ten years. ANALYSES: By creating a Histogram, I was able to graphically compare the numerical change in quantities between 2000 and 2010. RESULTS: Rental units did increase between 2000 and 2010 according to U.S. Census data. CONCLUSIONS: A conclusion could be inferred that in order to avoid foreclosure, owners chose to rent out their homes until the market recovered. This research has social implications for Kent County. It has been widely believed that rental properties are not maintained as well as owner-occupied. The primary concern is with the increase in these units, it could decrease property values.

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Apr 16th, 3:30 PM

Kent County Rental Properties in 2000 and 2010

Hager-Lubbers Exhibition Hall

PURPOSE: A report sponsored by the Johnson Center’s Community Research Institute states that beginning in 2004 until April 2012; the number of foreclosed homes in Kent County reached 20,684 units. This report also indicated that there are currently 2,009 homes owned by someone other than a resident with another 815 in process of foreclosure. Different foreclosure strategies were developed to prevent residents from losing their homes. These approaches included counseling, repayment plans, and loan modifications. I believe some residents may have opted to rent out their homes in lieu of a foreclosure or short-sale. SUBJECTS: County level data for drunk driving convictions was compiled from the Michigan State Police’s 2011 Drunk Driving Audit. METHODS AND MATERIALS: I used ArcGIS to convert the US Census data of rentals into shape files and then mapped the percentages of those two years for Kent County. Using the same methods, I also mapped the change in the percentages for the ten years. ANALYSES: By creating a Histogram, I was able to graphically compare the numerical change in quantities between 2000 and 2010. RESULTS: Rental units did increase between 2000 and 2010 according to U.S. Census data. CONCLUSIONS: A conclusion could be inferred that in order to avoid foreclosure, owners chose to rent out their homes until the market recovered. This research has social implications for Kent County. It has been widely believed that rental properties are not maintained as well as owner-occupied. The primary concern is with the increase in these units, it could decrease property values.