The “Spillover” Cost of Foreclosures by State
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Nationwide, foreclosures have drained nearly $2 trillion in property value from families who live nearby, more than half of them African-American or Latino.* This loss in wealth has hit some areas of the country harder than others. Here we break down the spillover costs for each state, showing total lost wealth, number of households affected and average home equity lost.
*Results apply to loans that entered foreclosure between 2007 through 2011.
For more details on this report, see “Collateral Damage: The Spillover Costs of Foreclosures.”