New Report: Effect of Single-Family Mortgage Foreclosures on Property Values
Posted by on October 21, 2005
[posted from Community Development Banking listserv]
New Woodstock Institute Research Illustrates Devastating Impact Foreclosures Have on Neighborhood Property Values
A new report by the Woodstock Institute, There Goes the Neighborhood: The Effect of Single-Family Mortgage Foreclosures on Property Values, shows that foreclosures have a significant negative effect on neighborhood property values. Although foreclosures have long been considered a problem associated with FHA loan programs, recent research has shown that the explosion in foreclosures that began in the 1990s was primarily driven by the growth of high-risk, conventional subprime lending.
The full report is available online at http://www.woodstockinst.org.
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