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Baltimore City Housing Market

Children and Foreclosures: Baltimore City An Examination of Students Affected by Foreclosure, 2003-2008 Urban Affairs Association 41 st Annual Meeting March 19, 2011. Baltimore City Housing Market. Change in Home Sales: -36% (2000-2009), -60% (2005-2009) Change in Median Sales Price:

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Baltimore City Housing Market

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  1. Children and Foreclosures: Baltimore CityAn Examination of Students Affected by Foreclosure, 2003-2008Urban Affairs Association 41st Annual MeetingMarch 19, 2011

  2. Baltimore City Housing Market • Change in Home Sales: -36% (2000-2009), -60% (2005-2009) • Change in Median Sales Price: 85% (2000-2009), 0% (2007-2009) • Median Days on Market: 17 DOM in 2007, 102 DOM in 2009 • Vacant Properties: 8% (2009), 16,400 properties

  3. Total Filings in 2009: 6,263Percentage of Residential Properties in Foreclosure: 3%Increase in Number of Filings: 19% (2000-2009) 96% (2005-2009)

  4. Baltimore City Public Schools (2008-2009) • Enrollment (grades 1-12): 79,000 students -10% (2004-2005 to 2008-2009) • Race/Ethnicity: 88% African American, 8% white, 3% Hispanic • Completion Rate: 81% • Dropout Rate: 6%

  5. 2008-2009 2.7% of Public School children affected by foreclosure (average of 2.4% over study period)Over 5% of Public School students living in Belair-Edison affected by foreclosure 29% of properties in foreclosure are home to a public school student

  6. 2004-2005 2.2% of Public School children affected by foreclosure2.8% of Public School students that changed residential addresses move due to foreclosureBelair-Edison (7.0%) Lauraville (6.5%) Morrell Park/Violetville (6.3%)

  7. 2007-2008 1.9% of Public School children affected by foreclosure2.8% of Public School students that changed residential addresses move due to foreclosure N. Baltimore/Guildford/ Homeland (8.2%) Morrell Park/Violetville (7.0%) Forest Park/Walbrook (6.2%)

  8. Conclusions • Students Affected by Foreclosure Increasing • Students affected by foreclosure now as likely to live in owner-occupied as rental housing • Students affected by foreclosure move at a higher rate than non-foreclosed students • Students affected by foreclosure and all other movers tend to move to the same neighborhoods • Foreclosure was found to be statistically significant factor in residential mobility (regression analysis) • Students affected by foreclosure switch schools as frequently as all students

  9. Matthew Kachura Program Manger BNIA-JFI University of Baltimore mkachura@ubalt.edu 410-837-6651 http://www.bniajfi.org

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