It now looks as though there is a real plan to make the massive amounts of foreclosures to serve some common public good for the general population - Foreclosure properties for parks, recreation and re-forestation.
A Fortune Magazine article written by
The Non-Profit organization Trust for Public Land has been helping state & local governments & private citizens transform their otherwise unusable land and properties into usable space, with a focus on conservation for decades. That's good to know, but it would have been nice if the areas had not been destroyed in the first place.
There is hope, however. TPL also has been known to take vacant, foreclosed properties in good shape and turn the properties into affordable housing. There are a lot of properties that have been completed but never occupied in my area as well. They are an eyesore, as the roads are not finished, the ac units are missing, and many windows or doors are boarded up.
Hopefully the Trust for Public Land, which is now beginning to work with banks and their foreclosed portfolios, and others like them, can help the U.S. transition into a state of stability in the housing market by transforming the foreclosed properties, land and homes into something meaningful and useful, one tract at a time...