Saying that the Weldon property was too small is simply an excuse, a way to avoid admitting that their real motive is to keep their children out of City schools and away from the City. How has their neighborhood changed with the new influx of qualified residents. No, it can't be white flight. This is a typical story in Rochester. A recent study by the Housing Council of residential mortgage defaults is quantifying a painful upheaval in some neighborhoods.
Life changes force people to sell.
When they cannot sell for what they owe, foreclosure is often the only option if the bank is unwilling to negotiate. According to the study, mortgage failures in Rochester increased 177 percent between 1990 and 1999, to 1,000. And they continued to climb in 2000, surpassing 1,000 by the end of September. Some of that drop can be attributed to the effects of foreclosure. If life changes were the cause, the foreclosure rate would be a constant.