Spatial Analysis of the Impact of Vacant, Abandoned, and Foreclosed Properties
Mikelbank, Brian A. “Spatial Analysis of the Impact of Vacant, Abandoned, and Foreclosed Properties,” Federal Reserve Bank of Cleveland. 11.2008.
This research considers jointly the impacts of two challenges often analyzed separately—vacant and abandoned properties, and residential foreclosures—in the context of the single-family housing market of Columbus, Ohio. While the specific regression coefficients estimated for Columbus will pertain to that market only, the relevance of the demonstrated modeling approach applies universally. The relationship between the geographies of the two issues and the links between them in the substantive process of housing decline make the approach demonstrated here critical if the role of either vacant/abandoned properties or foreclosure is to be accurately understood in any local housing market.