At least 2.8 million households faced foreclosure in 2009, and this record-breaking rate held steady in 2010. Concentrated foreclosures are associated with a host of negative consequences, including increased vacancies, higher crime rates, decreased property values and tax revenue, and deteriorated neighborhood quality (Immergluck and Smith 2006a; Immergluck and Smith 2006b; Apgar and Calder 2005). But it is well known that foreclosures are unequally distributed across neighborhoods, and it seems likely that the consequences of foreclosure vary as well. This dissertation offers a detailed mapping of foreclosure rates and their consequences in one large and diverse geographic region, namely the Los Angeles (LA) metropolitan area. Past research has identified location (urban, suburban, exurban) and racial and class composition as highly salient dimensions of neighborhood stratification.

The present project focuses on effects of "class, race and place" and their interactions in determining the prevalence and consequences of foreclosures in diverse LA neighborhoods. I ask three guiding questions: (1) What are the characteristics of neighborhoods in the LA area that experienced the highest rates of foreclosure? (2) What neighborhood characteristics influence the current status of previously foreclosed properties (e.g., whether they sell or remain vacant)? (3) Who buys foreclosed properties in different types of neighborhoods, and how might this alter neighborhood demographics? Using a unique data set that merges foreclosure, home sales, home loan, and census data for the 3,346 census tracts in the Los Angeles consolidated metropolitan statistical area for the period January 2008--December 2009, I examine whether previous patterns of neighborhood inequality in LA have been reinforced or altered by the foreclosure crisis.

This research helps to identify the uneven impact of the foreclosure crisis across neighborhoods and provides an opportunity to examine the interactions of class, race and place in determining the prevalence and consequences of foreclosure.