By Becky Yerak

Tribune staff reporter

July 22, 2007

 

Woodstock Institute's There Goes the Neighborhood report cited in Chicago Tribune story.

 

 

"There also are the worries of kids slipping into
abandoned houses and the prospect that neglected properties will pull down
neighborhood housing values. A foreclosure lowers the price of nearby
single-family homes, on average, by 0.9 percent, one recent study showed. Each
additional foreclosure on the same block cuts values another 0.9 percent."

 

The fully story is available here