How the Mortgage Crisis Has Affected the Tax Lien Market

Cris de la Torre and Rutilio Martinez

Journal of Real Estate Practice and Education, 2011, vol. 14, issue 2, 141-154

Abstract: In 2007 the authors published a paper (de la Torre and Martinez, 2007) concerning tax liens as an investment. Since then, the real estate market has experienced a dramatic upheaval with prices declining in some markets by 25%–35%. Furthermore, with interest yields in the credit markets declining dramatically, and stock markets having mediocre returns at best, individual investors and hedge funds have been attracted to the double-digit returns that tax lien investments may provide. This paper reviews the basics of the tax lien market, updates the tax lien environment given the upheaval in the residential housing and commercial markets, and discusses the dramatic decrease in property values and how this may affect the tax lien market. Individual investors may find the tax lien market very competitive and less likely to provide reasonable returns.

Date: 2011
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DOI: 10.1080/10835547.2011.12091695

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