Housing crisis, hardship and safety net support: examining the effects of foreclosure on households and families

Laryssa Mykyta

Housing Studies, 2019, vol. 34, issue 5, 827-848

Abstract: The housing market crash in the mid-2000s was characterized by unusually high rates of mortgage delinquencies and foreclosures. Thus, many householders and their families faced the prospect of losing their homes. This paper employs a unique data-set linking the 2008 Survey of Income and Program Participation with individual foreclosure event records from Realty Trac to examine the effects of foreclosure on changes in household well-being. Results from random effects models suggest that foreclosure was positively associated with hardship and food insecurity. Further, households at risk of foreclosure had greater odds of accessing government assistance programs but lower odds of receiving support from private safety nets. Results from lagged dependent variable models suggest that changes in foreclosure status are associated with increased hardship and reduced economic well-being. The lack of access to private safety nets suggests the need for comprehensive public programs to identify and assist homeowners at risk.

Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/02673037.2018.1487040 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:chosxx:v:34:y:2019:i:5:p:827-848

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/chos20

DOI: 10.1080/02673037.2018.1487040

Access Statistics for this article

Housing Studies is currently edited by Chris Leishman, Moira Munro, Ray Forrest, Alex Schwartz, Hal Pawson and John Flint

More articles in Housing Studies from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().