The Impact of REO Sales on Neighborhoods and Their Residents

被引：0
|
作者：
Keith Ihlanfeldt
Tom Mayock
机构：
[1] Florida State University,DeVoe Moore Center and Department of Economics
[2] Office of the Comptroller of the Currency,undefined
[3] Credit Risk Analysis Division,undefined
来源：
The Journal of Real Estate Finance and Economics | 2016年 / 53卷
关键词：
Foreclosures; Spillovers; Negative Externalities; Homeownership;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
The foreclosure crisis in the U.S. has resulted in a large number of residential REOs. These properties have been found to reduce the value of nearby homes. An unresolved issue is whether these negative spillover effects disappear after the REO is sold. We hypothesize that these effects are greater if the REO is purchased by an investor in comparison to an owner–occupant. In this paper we report the results from estimating the spillover effects of both current and ex–REOs, where the latter are divided into those possessed by owner–occupants and those possessed by investors. The results lend considerable support to our hypothesis.
引用
收藏
页码：282 / 324
页数：42
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