Foreclosures and Metropolitan Spatial Structure: Establishing the Connection

Selma Hepp

Housing Policy Debate, 2013, vol. 23, issue 3, 497-520

Abstract: This article explores the link between foreclosures and costs of commuting. For metropolitan spatial form, the important question on spatial location of foreclosures is whether their concentration in suburbia stems from higher risk lending during the subprime boom alone or whether costs of commuting added additional risk because of their stress on household budgets. The analysis attempts to single out the impact of proximity to the central business districts and transit and employment accessibility in accumulation of distressed properties in Maryland, and the Washington and Baltimore metropolitan areas separately. The analysis shows that even after accounting for subprime lending and employment, distance to the central business district impacted levels of distressed properties, particularly in the Washington region. There were more foreclosures farther from the urban core and in areas with relatively lesser access to employment.

Date: 2013
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DOI: 10.1080/10511482.2013.771787

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