why foreclosures matter » communities
The effects of foreclosures often extend beyond the families who are displaced.  Foreclosed homes may become vacant and abandoned -- leading to numerous problems that can decrease property values and destabilize communities. When inadequately secured and maintained, foreclosed properties can lead to increased crime, pest infestations, disorder, and violence.  Municipalities impacted by foreclosures face a troublesome combination of decreasing property tax revenues combined with increasing costs of responding to foreclosure-related problems.

Click on the links below to learn more about ways foreclosures affect communities:

NHS of ChicagoProperty Values, Vacancies, Prices, and Rents
Foreclosures can lead to vacancies and abandonment, destabilizing neighborhoods and decreasing property values.

Lorrington ApartmentsDisorder, Crime, and Violence
Vacant, foreclosed homes may lead to disorder and can harbor criminal activity.

Plainview HomesPublic Sector Costs and Fiscal Health
Foreclosures can worsen cities' fiscal problems by reducing property tax revenue while increasing costs for code enforcement, police, and fire departments.

Skip to: Ways Foreclosures Affect Families

Photo credits (top to bottom): Photo courtesy of NHS of Chicago; Lorington Apartments, Chicago IL -- photo courtesy of Valerie Denney Communications, photo credit: John Booz; Harvest Ridge Homes, Plainview MN -- photo courtesy of Greater Minnesota Housing Fund