Journal Article

Research review: spillover effects of foreclosures on communities

Abstract: A house is not just a physical shelter, but also a stitch in the fabric of society, integrating its residents into the life of the larger community. That is why foreclosures may hurt neighborhoods as much as they hurt those who lose their homes. Foreclosures may negatively impact a community when they depress the values of nearby properties, reduce the property tax base, increase blight and crime, and disrupt local social ties. We summarize some of the research that examines foreclosures? effects on the prices of nearby properties.

Keywords: Foreclosure;

Access Documents


Bibliographic Information

Provider: Federal Reserve Bank of Boston

Part of Series: New England Community Developments

Publication Date: 2008

Pages: 10-12

Order Number: 2