foreclosures

Concentrated Foreclosure Activity and Distressed Properties in New York City

September 20, 2019 // 0 Comments

Kristin L. Perkins | Since the mid-2000s millions of Americans have had personal experiences with foreclosure. Both homeowners and renters were affected by the surge in foreclosures over the last decade and neighborhoods of all types nationwide were exposed to risky mortgage lending, foreclosure sales, and vacant properties. Many studies have shown that foreclosures have negative effects on individuals and neighborhoods. Much of this research has focused on the effects of foreclosures on sales prices of neighboring homes and on neighborhood conditions like crime and neglected and poorly maintained properties. Read More

Building the Eviction Economy: Speculation, Precarity, and Eviction in Detroit

July 8, 2019 // 2 Comments

Eric Seymour and Joshua Akers | Evictions have recently gained national attention, in large part through the publication of Matthew Desmond's Pulitzer Prize-winning book, Evicted. According to subsequent work from Desmond and colleagues at Princeton University's Eviction Lab, we now know that roughly 1 in 40 renter households were evicted between 2000 and 2016, with nearly one million renter households facing eviction each year. While eviction is certainly more likely for low-income renters, Desmond's work shows how families experiencing eviction fall even further into poverty as a result. After eviction, it becomes even more costly and difficult for already vulnerable families to find housing, hold jobs, and stay healthy. Read More

Could Housing Crashes Change Voter Preferences?

March 20, 2019 // 0 Comments

Deirdre Pfeiffer, Jake Wegmann, and Alex Schafran | The election of President Trump in November 2016 came as a surprise to many. Analysts attributed Trump’s election to various factors, such as hostility towards immigrants and racial minorities in white, working class communities that formerly supported Obama and Russian meddling in the election. However, an underexplored factor is the role that the recent housing downturn may have played in the election. There is research showing that Midwestern and Rustbelt counties with a higher percentage of underwater homes (i.e., owing more than the home is worth) were more likely to vote for Trump in 2016 than Romney in 2012. Read More