This paper measures the extent to which effects of foreclosures vary across neighborhoods. It offers a simple empirical framework for decomposing the spillover effects on neighboring property prices. Data from Orange County, Florida, reveal that the effects systematically vary across neighborhoods by morphology. The results indicate that older, homogeneous age structure, and non-gated neighborhoods with high vacancy rates are most in jeopardy when foreclosures are present, as these neighborhoods show the greatest neighborhood house price effects.

中文翻译：

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丧失抵押品赎回权和房价：社区配置重要吗？

本文衡量了止赎影响在不同社区之间的差异程度。它提供了一个简单的实证框架来分解对邻近房地产价格的溢出效应。来自佛罗里达州奥兰治县的数据显示，不同社区的影响因形态而异。结果表明，当出现止赎时，具有高空置率的较旧、同质的年龄结构和非门控社区最危险，因为这些社区显示出最大的社区房价影响。