Wednesday, April 25, 2012

Where Do Families Go After Foreclosure?

The Metrotrends blog does some digging:

This is a tough question. The answer is that a few families may be trickling into homeless shelters, but probably not immediately after foreclosure, and not on a wide scale. Some limited evidence from DC shows this is the case. The rest of the answer requires some sleuthing. HUD data show that almost a quarter of families that entered shelter in 2010 came directly from a home they owned or rented. It is unclear how many of these situations are foreclosure related because shelters are not required to track this information. Plus, shelters are often a last stop on the residential instability road. Families facing foreclosure may move into a rental unit or double up with friends or family first. If these situations become unsustainable for whatever reason, the next stop may be the shelter.

Steve Clowney

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