The American Nightmare: Exploring the Foreclosure Crisis in Boston.
- Using site evaluation information and neighborhood characteristics from the 2000 Census, the following paper analyzes the impact of various factors on the maintenance of bank-owned properties after foreclosure. There are a number of significant variables, including the appearance of the property being occupied on the date of the site evaluation and the rating for the area surrounding the property.... read moreContrary to expectations, the number of foreclosures within an eighth of a mile of the property also has a positive, significant value, but its low standardized coefficient decreases the importance of this finding. In addition, research was conducted using both quantitative and qualitative measurements to determine the location of high concentrations of foreclosures within Census block groups during the Boston foreclosure crisis in the early 1990s and the current foreclosure crisis. This research used two density mapping strategies, one that counted the number of foreclosures in each Census block group and one that examined the number of foreclosures within a quarter mile radius of all 100-square meter cells in each Census block group, to analyze the density of foreclosures and found a consistent relationship between higher minority populations and a greater concentration of foreclosures during both foreclosure crises.read less