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The Variance in Foreclosure Spillovers across Neighborhood Types

Author

Listed:
  • Keith Ihlanfeldt
  • Tom Mayock

Abstract

The estimation of foreclosure spillover effects has been the subject of a number of studies following the most recent housing market crash. An important issue largely overlooked by these studies is the extent to which these spillovers vary across neighborhoods. In this article, we use data from the South Florida metropolitan area to study the variance in these foreclosure spillovers across neighborhoods with different income levels and racial concentrations. We find that the largest foreclosure spillovers occur in higher-income neighborhoods. In low-income, minority neighborhoods, we find no evidence of spillover effects. The results have important implications for local governments.

Suggested Citation

  • Keith Ihlanfeldt & Tom Mayock, 2016. "The Variance in Foreclosure Spillovers across Neighborhood Types," Public Finance Review, , vol. 44(1), pages 80-108, January.
  • Handle: RePEc:sae:pubfin:v:44:y:2016:i:1:p:80-108
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    File URL: http://pfr.sagepub.com/content/44/1/80.abstract
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    Cited by:

    1. Lerbs, Oliver & Teske, Markus, 2016. "The house price-vacancy curve," ZEW Discussion Papers 16-082, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    2. repec:eee:regeco:v:68:y:2018:i:c:p:277-290 is not listed on IDEAS

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