Foreclosures: The number of foreclosed housing units in a given area
Los Angeles Housing Department
The original data comes at the point level. Our team geocoded the locations to generate X/Y coordinates, then spatial joined each point to 2020 Census Tracts.
Why are these variables important to measure?
Foreclosure happens when a homeowner is unable to make mortgage payments on their property, allowing the lending institution to seize the property and evict the homeowner. High foreclosure rates are considered indicators of housing crises. Nearly 1,000 foreclosures per day occurred in 1933 during the Great Depression, which led to the introduction of government actions aimed at refinancing unpaid mortgages. Foreclosure activity rose by 81% during the Great Recession in 2008, which prompted moratoriums during the COVID-19 pandemic to protect renters and homeowners.