Puerto Rico Grapples with Foreclosure Crisis as Thousands Lose Homes

An average of 14 families lose homes every day to foreclosure in Puerto Rico, more than double the rate a decade ago as the island faces a real-estate crash worse than the one that sparked the Great Recession on the U.S. mainland.

News Story (Puerto Rico)

Associated Press (AP)
June 21, 2017

Tags: Housing: Foreclosure

Organizations mentioned/involved: Legal Assistance Clinic of the University of Puerto Rico


Families across Puerto Rico are moving in with relatives, becoming homeless or simply fleeing to the U.S. mainland with destroyed credit records as the island’s government struggles to restructure a portion of its $73 billion public debt and help the economy emerge from a decade-long recession.

“It’s the crisis no one is talking about,” said Ricardo Ramos, a professor at the Legal Assistance Clinic of the University of Puerto Rico. “This has so, so many consequences.”