First, how does a regional approach help us understand the recent surge in foreclosures?
Foreclosures have normally been thought of as a central city or perhaps an inner-ring suburban problem. However, in this recent crisis, foreclosures have spread to the outlying suburbs and become a regional phenomenon. In our foreclosure “heat maps”-graphics showing the incidence of foreclosures overlaid on a local map-one can see the problem bleeding outward across city borders. There is a real capacity issue-across metropolitan areas and even among various jurisdictions within them. We were more likely to find networks of robust housing nonprofits in the central city and maybe a few inner-ring suburbs. The inner city has dealt with foreclosures for decades, trying to avoid abandonment and get houses back on the market. But most outlying areas don’t have that same capacity to respond-they are not used to dealing with this kind of problem. Q: What are the elements for resilience in local housing markets? A: First, a locale’s resilience depends on its organizational ability to alter how
