Since 2005, the city holdings of suburban Milwaukee landlords have grown 70%. Out-of-state landlords own more than $580 million of residential housing.
In what the Journal-Sentinel calls a “massive wealth transfer” those dollars leave our neighborhoods, never to return. We have closed down drug houses only to see them reappear due to the absentee ownership. What would it look like if Bridge Builders purchased the drug houses, renovated them, and transitioned them to new safe and affordable housing.
Imagine what could happen if more of our neighborhoods had local stewardship? What would it look like if we could reclaim more properties for Milwaukee residents?
- New homeowners will build wealth
- Dollars will stay local
- Neighbors will connect with one another
- Long term stability of our blocks will be put back into the hands of the community