Do we have the ability to turn around the housing market on a local level?
I believe we do, let me explain.
You might know the situation, a few empty properties in the area resulting in the decrease in home values in the area. Acting as a web, this spreads and causes a larger drop based on the large number of empty homes.
The idea / concept is this. Create an association / group (I am not a lawyer to know the correct term.) but a group of motivated people in the area create a partnership to purchase the empty properties.
The group returns the properties into the market as rentals providing revenue opportunities and return to the people in the association.
As this grows communities will build back up and values will slowly increase as the number of empty properties decreases.
Just an idea.