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True Costs Of Foreclosure, Property Abandonment Extend Across Neighborhoods And Communities

Livinglies's Weblog

http://finance.yahoo.com/news/true-costs-foreclosure-property-abandonment-154500909.html

CLEVELAND, Jan. 17, 2017 /PRNewswire/ — A groundbreaking analysis of the true costs associated with the nation’s housing crisis quantifies for the first time the substantial and numerous impacts foreclosures and vacant and abandoned properties have on homeowners and their communities.

Even based on conservative estimates, the typical foreclosed home imposes costs of more than $170,000, according to a study commissioned by Community Blight Solutions and its Founder & Chairman, Robert Klein. Click here to review the full report.

“This is the first paper that utilizes a variety of economic data and academic studies to evaluate the costs associated with foreclosures and vacant and abandoned properties on people and their communities,” Klein said. “I am proud of this effort and I hope that those people and organizations dedicated to fighting community blight use this analysis and data to improve our neighborhoods and reduce the costs associated with blight.”

Of…

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