These factors are important for the health of your industry, including its ability to create jobs in construction and related activities. But the problems in housing also have important implications outside the construction industry. For instance, consider the effects on neighborhoods and communities.
Foreclosures, particularly when they are geographically concentrated, can diminish the values of nearby properties.3 Many foreclosed homes are neglected or abandoned, as legal proceedings or  2  National and state level homeowner vacancy rates are available on the U.S. Census Bureau website at www.census.gov/hhes/www/housing/hvs/charts/index.html.