Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
970706 | Journal of Urban Economics | 2015 | 16 Pages |
Abstract
Numerous studies have found that foreclosed properties sell at a discount and push down the sale prices of nearby properties, which may be partly driven by poorer maintenance of the foreclosed homes. However, direct evidence of foreclosure-related property neglect has been scarce. This paper uses data on constituent complaints and requests for public services made to the City of Boston to examine the incidence and timing of this type of foreclosure externality. Interior and exterior property conditions appear to suffer most while homes are bank owned, although complaints about reduced maintenance are also common earlier in the foreclosure process.
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Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Lauren Lambie-Hanson,