Real Estate Journal Online

There have not been any foreclosure sales in Philadelphia, Pennsylvania since December, when they were postponed to enable homeowners to access federal money to help save distressed properties. That money was promised but never became available, so now the city plans to go through with the auctions – though no deeds will be issued for 90 days in hopes that some of the Emergency Homeowners Loan Program monies ($105 million to PA) will help some homeowners save their homes. However, these auctions will not go on without a fight, promises Cheri Honkala, a community activist who plans to sleep in the foreclosed homes the night before the auction and “enter symbolic bids of one penny” to demonstrate her belief that “housing is a human right”[1].

Honkala hopes that her penny bids will actually result in some successful wins at the auction. If that happens, she will give the properties back to the homeowners, she says[2]. Public officials are proceeding with the auction as planned and do not appear to anticipate any serious problems during the proceedings.

Do you think that housing is a “human right?” It seems unfair to promise aid, then refuse to release that aid money. Should Philadelphia have waited longer on the federal government before resuming auctions?

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[1] http://www.philly.com/philly/news/119232554.html

[2] http://www.newsworks.org/index.php/local/item/16530-04spsale