foreclosures are not only bad for the individual
"Foreclosures are not only bad for the individual who loses his or her home ... each foreclosure within one eighth of a mile of a single-family home in a low- and moderate-income neighborhood reduced the home's value by more than 1.4%, an effect more than 40% greater than in middle- and upper-income tracts."
-- from "From the Subprime to the Exotic: Excessive Mortgage Market Risk and Foreclosures," by Dan Immergluck (in Winter 2008 issue of the Journal of the American Planning Association)







