MIT, Harvard Report: Forced Sales and House Prices – Foreclosures Reduce Home Values by 27%

“The discount is particularly large for foreclosures, 27% of a house’s value on average. It is smaller for death-related sales at 5-7% of value, and smaller again for bankruptcy-related sales at 3% of value.” ~ Abstract This paper uses data on house transactions in the state of Massachusetts over the last 20 years to show … Read more