Markets throughout the U.S. are facing a housing shortage impacting renters, buyers, and the overall economy.
Baltimore, Maryland has been dealing with an abandoned housing crisis since the mid-20th century. There are nearly 13,000 abandoned homes and over 20,000 vacant lots in the city. Maryland Governor Wes Moore hopes to address the issue through his recent executive order to launch Reinvest Baltimore.
The program seeks to transform at least 5,000 vacant properties into houses in the next five years and strengthen the partnership between Maryland and Baltimore to create a safer, more attractive community for current and future residents.
In addition to Reinvest Baltimore, a $10 million dollar grant has been approved to help improve Baltimore’s central business district. Both initiatives seek to revitalize Baltimore and uplift both the community and the local economy.
If you’ve wanted to settle down in Baltimore, now could be a great time to start your homebuying journey and benefit from these programs.