Cities With the Most Abandoned Homes - 24/7 Wall St.:
"In Wichita, Kansas, nearly half of homes in foreclosure were abandoned as of the first quarter of 2014. In six of the nation’s most populous metro areas, at least a third of homes in foreclosure were vacant. Based on data provided by housing data website RealtyTrac for the nation’s 100 largest metro areas, these are the cities where residents are abandoning their homes.
Median housing prices in all but one of the metro areas with the most vacant homes were among the lowest in the country. In addition, housing prices fell during the last 12 months in four of the 10 cities: Boise, St. Louis, Syracuse, and Wichita. Daren Blomquist, vice president at RealtyTrac, explained that this drop in prices creates a problem for both banks and homeowners because neither wants to hold on to a depreciating asset. This increases the likelihood that homeowners will abandon their homes and banks may find that foreclosing on the home could be more expensive than writing it off."
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21st century ghost towns?
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