1 Foreclosure crisis hits Berwyn, big time
More than 900 properties in Berwyn were in foreclosure by the end of 2008. It was an unprecedented percentage of foreclosed-on buildings, most of which were residential properties. More than 5 percent of the “City of Homes” housing stock was in foreclosure, in part because of adjustable-rate mortgages, mass layoffs from small and mega businesses, and skyrocketing prices on gasoline and consumer products.