Download or read book Stabilizing Neighborhoods Impacted by Concentrated Foreclosures written by Ivan Levi and published by . This book was released on 2009 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Neighborhood Effects of Concentrated Mortgage Foreclosures written by Jenny Schuetz and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the national mortgage crisis has worsened, an increasing number of communities are facing declining housing prices and high rates of foreclosure. Central to the call for government intervention in this crisis is the claim that foreclosures not only hurt those who are losing their homes to foreclosure, but also harm neighbors by reducing the value of nearby properties and in turn, reducing local governments' tax bases. The extent to which foreclosures do in fact drive down neighboring property values has become a crucial question for policy-makers. In this paper, we use a unique dataset on property sales and foreclosure filings in New York City from 2000 to 2005 to identify the effects of foreclosure starts on housing prices in the surrounding neighborhood. Regression results suggest that above some threshold, proximity to properties in foreclosure is associated with lower sales prices. The magnitude of the price discount increases with the number of properties in foreclosure, but not in a linear relationship.
Download or read book Addressing the Impact of the Foreclosure Crisis Federal Reserve Mortgage Outreach and Research Efforts written by and published by DIANE Publishing. This book was released on 2010 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication highlights MORE-sponsored projects designed to communicate best practices and information about innovative programs to improve conditions in neighborhoods affected by high rates of foreclosure. It also reviews initiatives undertaken by the various Reserve Banks and the Board of Governors to respond to the foreclosure crisis.
Download or read book Beyond Dollars and Cents written by Daniel Gordon Cooper and published by . This book was released on 2012 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strengthening Our Economy written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Stabilizing Communities written by Alan Mallach and published by . This book was released on 2009 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The wave of home mortgage foreclosures that began in 2006 continues to surge, greatly destabilizing neighborhoods, towns, and cities across the United States. Without robust, carefully-targeted federal policies to mitigate the community-level impacts of foreclosure, local and state efforts will invariably fall far short of what is needed. For that reason, the federal government should adopt a four-part strategy that provides state and local leaders with the tools to stabilize affected neighborhoods and promote market recovery in the wake of the mortgage crisis.
Download or read book What Do the Neighbors Think Assessing the Community Impact of Neighborhood Stabilization Efforts written by Erin Graves and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the mortgage crisis, neighborhood stabilization efforts have been launched to allay some of the "secondary effects of the mortgage crisis -- the economic and social impacts on properties, neighborhoods, and communities." One example of this kind of effort is the federally funded Neighborhood Stabilization Program (NSP), which provided several million dollars to the City of Boston in order to acquire, rehabilitate, and resell abandoned, foreclosed homes in high-foreclosure neighborhoods. The author discusses preliminary findings from ongoing research exploring the effect of foreclosure and NSP intervention on neighborhood social stability.
Download or read book The Social Impact of Home Rehabilitation in Low Income Neighborhoods written by Erin Graves and published by . This book was released on 2016 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: While economists and others have studied the impact of abandoned foreclosed homes on nearby home prices and crime, very few scholars have attempted to understand the impact of abandonment and rehabilitation on neighborhood social conditions. The foreclosure crisis of 2005-2010 led to a concentration of abandoned foreclosed homes in disadvantaged neighborhoods and these neighborhoods became the targets of a policy intervention, the Neighborhood Stabilization Program. This study employs a mixed-method longitudinal approach to investigate the impact of this foreclosed home rehabilitation policy on neighborhood social conditions and physical conditions in a highly disadvantaged neighborhood. We compared this to a quasi-control group of similar abandoned, foreclosed neighborhood homes not selected for the program. Results indicated that the rehabilitation of a foreclosed home had marginally significant negative impact on social conditions and no impact on the physical conditions of nearby homes. There were no differences between the program properties and the control properties, except that the control properties were rehabilitated more quickly. To further explore the quantitative findings, we divide the qualitative results into four major themes emerging from the data: indifference to foreclosures, threats to the neighborhood, call for community cohesion, and the importance of homeownership. These results indicate that the affected residents believe that neighborhood stabilization efforts would have benefitted more from programs that aimed to improve homeownership opportunities and increase neighborhood levels of social cohesion and social capital.
Download or read book Strengthening Our Economy written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 2010 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Foreclosure Prevention written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2010 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Foreclosure Problems and Solutions written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 2008 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Resilience in the Face of Foreclosures written by Todd Swanstrom and published by . This book was released on 2009 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Targeting Federal Aid to Neighborhoods Distressed by the Subprime Mortgage Crisis written by United States. Congress. House. Committee on Oversight and Government Reform. Subcommittee on Domestic Policy and published by . This book was released on 2009 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Drop in the Bucket written by Julie Dworkin and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Neighborhood Stabilization Program (NSP) is Chicago's primary source of funds to redevelop neighborhoods devastated by the home foreclosure crisis. Yet NSP is able to fund a minute fraction of the resources needed to effectively address the crisis. The city of Chicago has another available resource, Tax Increment Financing (TIF), which could be used in a similar way to the way NSP dollars are used, though they are not currently being allocated for this purpose. Of the city's 159 TIF districts, all but three allow TIF funds to be used to purchase and rehabilitate properties. The Sweet Home Chicago ordinance, now pending before the Chicago City Council, would designate a yearly share of TIF funds to build and rehabilitate affordable housing, including foreclosed houses and apartment buildings. If enacted, TIF funds would complement the Neighborhood Stabilization Program, allowing the city to more significantly impact the continuing foreclosure crisis. This report examines the current impact of NSP, the extent to which TIF resources can be used to address foreclosures, and the resources available in TIF funds within neighborhoods hard hit by foreclosures. Key findings include: The Neighborhood Stabilization Program (NSP), launched in 2009, has already depleted 28 percent of its funding through the purchase and rehab of only 83 properties. These properties comprise less than 1 percent of the total number of foreclosures completed in Chicago during 2009 alone. The maximum number of foreclosed properties acquired in any of 27 NSP communities as of July 30, 2010 is 11. 32% of home foreclosures in NSP communities occurred within TIF districts. These properties could be rehabilitated as affordable housing using TIF dollars. In 2009, 507 foreclosures were completed and 1,415 foreclosures were filed within TIF districts in communities that were ineligible for NSP. Communities reporting more than 50 foreclosures within a TIF district have uncommitted funds available in the
Download or read book Foreclosures Continue written by United States. Congress. House. Committee on Oversight and Government Reform. Subcommittee on Domestic Policy and published by . This book was released on 2011 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Report to Congress on the Root Causes of the Foreclosure Crisis written by Christopher E. Herbert and published by DIANE Publishing. This book was released on 2010-06 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzes data and trends in the residential housing market and reviews the academic lit. and industry press on the root causes of the current foreclosure crisis (FC). Provides a review of policy responses and recommended actions to mitigate the FC and help prevent similar crises from occurring in the future. Contents: (1) Trends in Delinquencies and Foreclosures: Regional Trends in Foreclosures; (2) Lit. Review: General Lit. on Causes of Foreclosures and Delinquencies; Lit. Assessing Causes of the Current FC; Factors Enabling Expanded Risky Lending; (3) Policy Responses to the FC: Efforts To Address Rising Foreclosures; Efforts To Reduce the Risk of High Rates of Mortgage Foreclosures in the Future; Mortgage Market Reform. Illus.
Download or read book The Impact of the Foreclosure Crisis on Public and Affordable Housing in the Twin Cities written by United States. Congress. House. Committee on Financial Services. Subcommittee on Housing and Community Opportunity and published by . This book was released on 2010 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
