Learn More: Foreclosure

Metadata

Variable Definition:
Foreclosures: The number of foreclosed housing units in a given area
Source:
Los Angeles Housing and Community Investment Department
Years Available:
2014 - 2015
Geographic Unit
Census Tracts in the City of Los Angeles

Why is this Variable Important to Measure?

Foreclosures
Foreclosure happens when a homeowner is unable to make mortgage payments on their property, allowing the lending institution to seize the property and evict the homeowner. Housing foreclosure has negative impacts on households and neighborhoods. High foreclosure rates in a neighborhood can lead to a lack of community and economic investment, vacancies and blight, increased levels of property crime and vandalism, and overall lower property values. Households who file for foreclosure are often economically strained and must deal with the consequences of finding new and affordable housing and displacement from their community and schools.

Sources:
Arnio, Ashley N., Eric P. Baumer, and Kevin T. Wolff. "The contemporary foreclosure crisis and US crime rates." Social Science Research, vol. 41, no. 6, 2012, pp. 1598-1614. Link
Fontinelle, Amy. "Foreclosure." Investopedia, 2018Link
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