For every foreclosure in a lower-income community in the Chicago region, the value of neighboring properties declines 1.2 percent. These communities saw over 20,000 foreclosures in 2007.
For many Chicago region households, affordable housing is rental
housing. With 35 percent of the foreclosures filed in 2007 affecting
multi-family rental units, what can be done to keep these units on the
market?
In the City of Chicago, foreclosures on condominium units made up a rapidly growing share of the city’s total foreclosure filings, according to Woodstock Institute’s year-end analysis of 2008 foreclosure filings.
Foreclosure Fallout: An Analysis of Foreclosure Auctions in the Chicago Region
