In June of 2012, the New Jersey State Assembly considered a bill that would allow for the purchase of foreclosed properties to become affordable housing. The New Jersey Foreclosure Relief Corporation would have five years to purchase these properties and turn them into profitable and viable homes for its residents. Many community advocates and businesses support the measure, saying that it would take vacant, dilapidated properties and turn them into homes, in effect restoring the community. Regardless of outcome here, this instance proves as one example of a community looking for solutions in a murky housing market.
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