The families in these units may also be displaced, even if they are paying their rent on time and abiding by the terms of their lease agreement. In areas where foreclosures are concentrated, communities will suffer. Clusters of vacant properties can foster vandalism and crime, and studies have shown that they lead to lower house prices throughout the neighborhood.
BIS Review 90/1998  -2-  Indeed, the Federal Reserve was concerned enough to tap the brakes by raising the short term interest rate in March 1997 before the Asian crisis hit that summer.