Who Are the Foreclosed? A portrait of Americans displaced by the mortgage foreclosure crisis

Based on data from the National Suburban Survey from September 2010, Christopher Niedta & Isaac William Martin found that the 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. (To the full paper)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s