A new report by the Woodstock Institute, There Goes the Neighborhood: The Effect of Single-Family Mortgage Foreclosures on Property Values, shows that foreclosures have a significant negative effect on neighborhood property values. Although foreclosures have long been considered a problem associated with FHA loan programs, recent research has shown that the explosion in foreclosures that began in the 1990s was primarily driven by the growth of high-risk, conventional subprime lending.

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