{"id":180577,"date":"2023-08-26T15:39:38","date_gmt":"2023-08-26T15:39:38","guid":{"rendered":"https:\/\/precoinnews.com\/?p=180577"},"modified":"2023-08-26T15:39:38","modified_gmt":"2023-08-26T15:39:38","slug":"americas-zombie-foreclosures","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/americas-zombie-foreclosures\/","title":{"rendered":"America’s Zombie Foreclosures"},"content":{"rendered":"

The 2023 Vacant Property and Zombie Foreclosure Report for the third quarter from real estate research firm ATTOM reveals that 1,277,612 residential properties in America are vacant. That is about one in 80 residences. In addition, 315,425 homes were in the process of foreclosure during the same period. Of these, just shy of 9,000 had been abandoned by their owners. These foreclosures are called \u201czombie foreclosures.\u201d (These are America’s ghost towns.)<\/p>\n

For now, zombie foreclosures are a small part of U.S. housing problems. \u201cZombie foreclosures again are ticking up a tiny bit this quarter, tracking along with a small rise in overall foreclosure activity around the country. That\u2019s to be expected, as a handful of homeowners who can\u2019t catch up on overdue mortgage payments just walk away from their properties,\u201d said Rob Barber, CEO for ATTOM.<\/p>\n

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Among cities with populations exceeding 500,000, those grappling with the highest zombie foreclosure rates are facing financial challenges. These cities include Cedar Rapids, IA, where 12.5% of properties are vacant due to foreclosure; Peoria, IL, at 10.8%; Indianapolis, IN, at 8.9%; Fort Wayne, IN, at 8.8%; and Youngstown, OH, at 8.3%.<\/p>\n

All but Cedar Rapids fit the \u201cpoor city\u201d pattern. This is particularly true of Youngstown and Peoria. With a population of just under 60,000, Youngstown has a poverty rate of 35%. With a population of 110,000, Peoria\u2019s poverty rate is 20%. (Here is a look at the cities Americans are abandoning.)\u00a0<\/p>\n

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Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The 2023 Vacant Property and Zombie Foreclosure<\/p>\n","protected":false},"author":3,"featured_media":180576,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nAmerica’s Zombie Foreclosures - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/americas-zombie-foreclosures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"America’s Zombie Foreclosures - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The 2023 Vacant Property and Zombie Foreclosure\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/americas-zombie-foreclosures\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-26T15:39:38+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/08\/Americas-Zombie-Foreclosures.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/americas-zombie-foreclosures\/\",\"url\":\"https:\/\/precoinnews.com\/business\/americas-zombie-foreclosures\/\",\"name\":\"America’s Zombie Foreclosures - 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