Habitat shifts gears to fix-ups in Clayton: Professor Dan Immergluck discusses the impact of foreclosures

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Two vacant houses on Bola Court, in Jonesboro, sit as brick and mortar reminders of a foreclosure crisis that has hurt not just those who lost homes, but their neighbors, too. Home values in the Iron Gate community have dropped more than 20 percent and crime has ticked up. Southern Crescent Habitat for Humanity Executive Director Brenda Rayburn estimates one in five homes sit empty... Dan Immergluck, a Georgia Tech professor of city and regional planning who has studied the effects of foreclosure on communities, said borrowers are more likely to be foreclosed when they can’t sell their houses when they need to. “Each foreclosure has a significant impact on property values around it,” Immergluck said. “It’s not just dispiriting and worrisome [to homeowners], but it makes it harder for the housing market to work.”

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College of Design, School of City & Regional Planning

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dan immergluck
  • Created By: Mike Alberghini
  • Workflow Status: Published
  • Created On: Dec 17, 2010 - 11:21am
  • Last Updated: Oct 7, 2016 - 10:24pm