Foreclosure,vacancy and crime |
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Affiliation: | 1. University of Wisconsin-Stout, United States;2. Federal Reserve Bank of Atlanta, 1000 Peachtree St. N.E.,Atlanta, GA 30309,United States |
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Abstract: | This paper examines the impact of residential foreclosures and vacancies on violent and property crime. To overcome confounding factors, a difference-in-difference research design is applied to a unique data set containing geocoded foreclosure and crime data from Pittsburgh, Pennsylvania. Results indicate that while foreclosure alone has no effect on crime, violent crime rates increase by roughly 19% once the foreclosed home becomes vacant – an effect that increases with length of vacancy. We find weak evidence suggesting a potential vacancy effect for property crime that is much lower in magnitude. |
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Keywords: | Foreclosure Vacancy Crime |
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