Housing Law Commons^™

Counting Casualties In Communities Hit Hardest By The Foreclosure Crisis, Matthew J. Rossman

Utah Law Review

The Foreclosure Crisis wreaked havoc on the finances of American households in a manner and to a degree not seen in almost a century. While most areas of the country are well on the road to recovery, the Crisis caused fundamental damage to the housing markets of some communities resulting in home-value declines that bear little hope of a meaningful recovery in the near future. Homeowners in these Hardest Hit Communities have suffered a serious economic loss on what is likely their principal asset, due in most cases to circumstances completely beyond their own control.

The best long-term approach to …