No One Home: Challenges & Costs of Vacant Properties

During the continuing foreclosure crisis and economic downturn, increased numbers of vacant residential properties are becoming vandalised or dilapidated, attracting crime, and contributing to neighbourhood decline in many communities across the country. Even though homeowners whose properties are being foreclosed upon may continue to occupy their properties until after a foreclosure sale occurs, many leave their homes during the foreclosure process. In addition, properties for which a new entity has assumed ownership through foreclosure may be vacant until the property is resold. This book explores the concern over the costs that foreclosed and unattended vacant homes are creating for local communities and the strategies state and local governments are using to address unattended vacant property problems and the challenges those governments face.

Preface; Vacant Properties: Growing Number Increases Communities' Costs & Challenges; Housing Market Developments & Their Effects on Low- & Moderate-Income Neighborhoods; Rebalancing the Housing Market; Index.