The post-foreclosure experience of U.S. households

Raven S. Molloy and Hui Shan
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Raven S. Molloy: https://www.federalreserve.gov/econres/raven-molloy.htm

No 2011-32, Finance and Economics Discussion Series from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Despite the recent flood of foreclosures on residential mortgages, little is known about what happens to borrowers and their households after their mortgage has been foreclosed. We study the post-foreclosure experience of U.S. households using a unique dataset based on the credit reports of a large panel of individuals to from 1999 to 2010. Although foreclosure considerably raises the probability of moving, the majority of post-foreclosure migrants do not end up in substantially less desirable neighborhoods or more crowded living conditions. These results suggest that, on average, foreclosure does not impose an economic burden large enough to severely reduce housing consumption.

Keywords: Foreclosure (search for similar items in EconPapers)
Date: 2011
New Economics Papers: this item is included in nep-ban, nep-mig and nep-ure
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Citations: View citations in EconPapers (5)

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Related works:
Journal Article: The Postforeclosure Experience of U.S. Households (2013)
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