4 Moreover, neighborhoods that have significant concentrations of vacant  4  Dan Immergluck and Geoff Smith (June 2005), "There Goes the Neighborhood: The Effect of Single-Family Mortgage Foreclosures on Property Values," Woodstock Institute; William C. Apgar and Mark Duda,  4  BIS Review 57/2008  properties are not attractive to potential buyers, further challenging community-stabilization efforts.
Vacant homes also drain the coffers of municipalities, who must secure the homes from crime, keep them clear of trash, or in extreme cases, demolish them in order to maintain stability in the broader community.