Citibank Foreclosure Homes and All Types of Foreclosures: Symptoms?

by Simon Lindsay on cities

A study conducted by the Austin-based University of Texas reveals that foreclosure, be it bank foreclosures like Citibank foreclosure homes or government or any other type of foreclosure, does not directly cause crime rates to rise as commonly believed by most people.

Authors of the study asserted that foreclosures on their own do not cause crime rates to rise. For example, the number of Houston foreclosed homes will not necessarily dictate the level of crime in this particular city. Researchers have added that both crime and foreclosures are products of factors such as the political status of a community, segregation and poverty.

With the number of foreclosed homes in Texas being some of the highest, some would automatically assume that whatever crime rate the state has is a direct product of the foreclosure rate. However, the study reveals that this is not exactly how it works. The authors revealed that foreclosures do have a potential impact on crime rates, but not directly.

More than anything else, huge numbers of foreclosures such as Citibank foreclosure homes and other bank foreclosures, affect crime rates since most of these properties end up abandoned and vacant which present a lot of opportunities to criminals to commit crimes such as burglary and vandalism. In addition, places that experience rapid changes in rates of foreclosures become disorganized and destabilized, leading to poor control of community crime.

Despite such connections, the authors of the study concluded that crime rates and property foreclosures are not related causally. They stated that both are symptoms of root causes that could include a community's structural characteristics. The authors reached this conclusion by using foreclosure and crime data in Chicago, Illinois between 2000 and 2008. According to the authors, this is the period when the city's foreclosure numbers almost tripled.

They focused on the impact of rising rates of foreclosures during these times on crime rates in the community, particularly the impact of the rapid changes in community structures brought by sudden upswings in the number of foreclosed properties, including Citibank foreclosure homes and other bank foreclosures, government foreclosures and other foreclosed property types.