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Intrametropolitan patterns of foreclosed homes: ZIP-code-level distributions of real-estate-owned (REO) properties during the U.S. mortgage crisis

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  • Daniel Immergluck

Abstract

During the mortgage crisis, community developers, policymakers, and others have become increasingly concerned about the extent to which lender-owned homes, often called real-estate-owned or ?REO? properties, have accumulated in their neighborhoods and communities. REO properties are usually vacant and, especially when geographically concentrated, can have destabilizing impacts on neighborhoods and communities. However, due to data challenges, little systematic research has been done on the intrametropolitan distributions of such properties, especially across different metropolitan regions. This paper describes the accumulation of REO within different parts of metropolitan areas as of November 2008.

Suggested Citation

  • Daniel Immergluck, 2009. "Intrametropolitan patterns of foreclosed homes: ZIP-code-level distributions of real-estate-owned (REO) properties during the U.S. mortgage crisis," FRB Atlanta Community and Economic Development Discussion Paper 2009-01, Federal Reserve Bank of Atlanta.
    • Handle: RePEc:fip:fedacd:2009-01
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    References listed on IDEAS

    as
    1. Daniel Immergluck & Geoff Smith, 2005. "The impact of single-family mortgage foreclosures on neighborhood crime," Proceedings 955, Federal Reserve Bank of Chicago.
    2. 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. Selma Hepp, 2013. "Foreclosures and Metropolitan Spatial Structure: Establishing the Connection," Housing Policy Debate, Taylor & Francis Journals, vol. 23(3), pages 497-520, July.
    2. Ingrid Gould Ellen & Josiah Madar & Mary Weselcouch, 2015. "The Foreclosure Crisis and Community Development: Exploring REO Dynamics in Hard-Hit Neighborhoods," Housing Studies, Taylor & Francis Journals, vol. 30(4), pages 535-559, July.

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