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Who Are the Foreclosed? A Statistical Portrait of America in Crisis

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  • Christopher Niedt
  • Isaac William Martin

Abstract

Data from the National Suburban Survey from September 2010 permit the first statistical portrait of Americans displaced by the mortgage foreclosure crisis. The average person who has experienced home mortgage foreclosure since September 2007 resembles the average American but is somewhat likely to be younger, Latino, and a parent. The foreclosed are also more likely to report various other measures of financial distress, including recent job loss. The experience of foreclosure is associated with more problems in the neighborhoods where respondents currently reside, including such problems as crime, unemployment, and a lack of affordable housing. Respondents who have not personally lost a home, but who know the foreclosed, are also experiencing more economic distress and more neighborhood problems than those who have not. These descriptive findings suggest the human costs of the foreclosure crisis and the limits of informal social safety nets for addressing those costs.

Suggested Citation

  • Christopher Niedt & Isaac William Martin, 2013. "Who Are the Foreclosed? A Statistical Portrait of America in Crisis," Housing Policy Debate, Taylor & Francis Journals, vol. 23(1), pages 159-176, January.
    • Handle: RePEc:taf:houspd:v:23:y:2013:i:1:p:159-176
    DOI: 10.1080/10511482.2012.702119
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    References listed on IDEAS

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    1. Daniel Immergluck, 2009. "The accumulation of foreclosed properties: trajectories of metropolitan REO inventories during the 2007–2008 mortgage crisis," Community Development Innovation Review, Federal Reserve Bank of San Francisco, issue 1, pages 07-42.
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    Cited by:

    1. Alexander C Tsai, 2015. "Home Foreclosure, Health, and Mental Health: A Systematic Review of Individual, Aggregate, and Contextual Associations," PLOS ONE, Public Library of Science, vol. 10(4), pages 1-21, April.

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