The number of vacant homes across the U.S. has risen since the economic crisis. During the economic crisis, new and old homeowners faced the ultimate pain of foreclosure. Families were given notices to vacate their homes without having a new home or a chance to pack efficiently. As a result of high vacancy rates, real estate developers are less likely to purchase and renovate vacant properties in urban areas. The property value of a neighborhood decreases with the number of vacant homes. Also, vacant homes can be dangerous! The U.S. Government should implement federal tax incentives for developers rehabbing non-historic vacant property. Federal tax incentives are likely to attract more experienced developers to tackle this issue head on.



