Brookings Institution | 2.3 Million Children have Already Lost their Homes to Foreclosure, 6 Million More at Serious Risk

The Ongoing Impact of Foreclosures on Children

Five years into the foreclosure crisis, many American families with children continue to lose their homes through foreclosure. An estimated 2.3 million children in single-family homes have already lost their homes to foreclosure, and even more – 3.0 million children – are at serious risk of losing their homes in the future. Another three million or so children may face eviction from rental properties that undergo foreclosure, suggesting that more than 8 million children are directly affected by the ongoing foreclosure crisis (see Figure 1). As single-family and rental properties continue to enter foreclosure, children face not just the loss of their homes, but also the risk of losing friends and falling behind academically if they are forced to switch neighborhoods and schools.

Children Affected by Foreclosures
Children are the often invisible victims of the foreclosure crisis. Mortgage records do not tell how many children are in owner-occupied homes, and it is even harder to estimate the number of children in rental properties. Yet foreclosure affects not just the homeowner or landlord, but also the children living in the foreclosed properties. This brief combines state-by-state estimates on foreclosures with Census Bureau data on the living arrangements of families with children to generate estimates of the numbers of children affected by the mortgage crisis. It also synthesizes research bearing on the negative effects of foreclosure on children’s schooling and overall well-being and outlines some possible policy responses.

Rest here…

See also…

Save to My PortfolioThe Recession’s Ongoing Impact on America’s Children: Indicators of Children’s Economic Well-Being Through 2011
Save to My PortfolioChildren’s Economic Well-Being: 2011

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Comments
2 Responses to “Brookings Institution | 2.3 Million Children have Already Lost their Homes to Foreclosure, 6 Million More at Serious Risk”
  1. Fury says:

    the saddest collateral damage of the securitization ponzi scheme is the
    beat- down of our children’s physical and emotional state.

    a whole generation will be lost to the greedy wall street and banking thugs.

    when will this sadism stop?

  2. Beth A. says:

    Yes – and this doesn’t tell the whole story beyond that of foreclosures. No work, no money — things have gone from bad to worse. It breaks my heart how this country is failing and all that are hurt by the economy….all while the goobermint is slowly but surely turning into a totalitarian police state. Very scary. I’m so afraid for what’s ahead for our children.

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