Lin, Zhenguo; Rosenblatt, Eric; Yao, Vincent - In: The Journal of Real Estate Finance and Economics 38 (2009) 4, pp. 387-407
Previous studies have shown that foreclosure often results in vandalism, disinvestment and other negative spillover effects in the neighborhood. This paper extends these views into a formal theoretical model through pricing based on comparables. We project that the spillover effect of a...