The Chicago Region's Foreclosure Problem Continued to Grow in 2008


Publication Date: January 2009

Publisher: Woodstock Institute (Chicago, Ill.)

Author(s): Geoff Smith; Sarah Duda

Research Area: Banking and finance; Economics

Keywords: Trouble Asset Relief Program (TARP); Loan modification programs; Foreclosure

Type: Report

Coverage: Illinois

Abstract:

This report summarizes key foreclosure trends in the Chicago region for 2008 and updates Woodstock Institute reports and fact sheets released previously that illustrated key aspects of the foreclosure crisis such as the spread of the crisis to suburban communities, the potential impact of the foreclosures on Chicago's affordable rental housing market, and the growing number of foreclosures that were becoming bank-owned properties and likely sitting vacant. The report includes detailed appendices with data for City of Chicago community areas and municipalities in the Chicago Six County Area.