Walkability and Foreclosures (04-21-17)

Won, Lee, and Li studied links between walkability and foreclosure spillover effects (such as property prices declining near foreclosures).  They determined that “property values in walkable neighborhoods were less subject to foreclosure spillover, but this was only significant for middle/high-income neighborhoods. Walkable neighborhoods were shown to offer more advantages in maintaining neighborhood stability during the recovery of 2013 than in the market crash of 2010. This study supports development strategies and policies that include walkability to achieve neighborhood stability and livability.”

Jaewoong Won, Chanam Lee and Wei Li.  “Are Walkable Neighborhoods More Resilient to the Foreclosure Spillover Effects?”  Journal of Planning Education and Research, in press.