Own home for $1? American City makes this a reality; understand

According to The Sun, the city is launching an innovative initiative to revitalize areas affected by crime and vacancy: the sale of empty houses for a negligible price

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World
Baltimore
11 hours ago
BY Minuto News

Imagine buying a house for a symbolic price of just US$1 (about R$4.98). In Baltimore, Maryland, in the United States, this became a reality! According to The Sun, the city is launching an innovative initiative to revitalize areas affected by crime and vacancy: the sale of empty houses for a negligible price.

Approved by the city council on March 20, the measure covers around 15,000 properties. However, only 200 of them will be sold for $1, aimed primarily at Baltimore residents who commit to restoring and living in the properties.

Non-profit organizations can also purchase the houses, but at a price of US$3,000 (approximately R$15,000).

To help renovate homes, the city offers grants of up to US$50,000 (about R$249,000) to individuals pre-approved for construction loans.

The initiative is inspired by a similar program carried out in the 1970s, with the support of current mayor Brandon Scot.

However, Baltimore City Council President Nick Mosby questions whether Scot’s administration is prioritizing local residents. He fears the initiative could result in the expulsion of low-income people, as reported by The Sun.

In response, authorities guarantee that buyers will have 90 days to occupy their new homes.

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