One overlooked consequence of America's foreclosure crisis is the impact it had on school segregation. Using data on Florida schools, we find that the crisis reduced the racial segregation of elementary schools by opening up affordable housing opportunities to black families in predominantly...

Foreclosures have been shown to have a negative financial impact on borrowers, lenders, and neighbors. It has also been argued that they have important negative effects on the budgets of local governments, but there is scant evidence supporting this claim. This paper relates expenditures and the...