Residential Foreclosures in the City of Buffalo, 1990-2000 - Federal ...
Residential Foreclosures in the City of Buffalo, 1990-2000 - Federal ...
Residential Foreclosures in the City of Buffalo, 1990-2000 - Federal ...
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The relationship between <strong>in</strong>come and foreclosure is less evident, with a high<br />
<strong>in</strong>cidence <strong>in</strong> both higher and lower <strong>in</strong>come tracts (Map 6). Never<strong>the</strong>less, it is apparent<br />
that <strong>the</strong> highest concentration <strong>of</strong> foreclosures occurred <strong>in</strong> <strong>the</strong> higher <strong>in</strong>come m<strong>in</strong>ority<br />
tracts located <strong>in</strong> <strong>Buffalo</strong>’s North East and East Delavan communities. Still, Map 7 shows<br />
that some <strong>of</strong> <strong>the</strong>se tracts saw <strong>the</strong>ir median <strong>in</strong>comes decl<strong>in</strong>e over <strong>the</strong> study period. Map 7<br />
also shows that <strong>in</strong>comes were more likely to have decreased <strong>in</strong> <strong>the</strong> city’s peripheral<br />
neighborhoods and more likely to have <strong>in</strong>creased <strong>in</strong> <strong>the</strong> <strong>in</strong>ner city. This pattern follows<br />
generally observed trends <strong>of</strong> urban transformation, whereby neighborhood decl<strong>in</strong>e tends<br />
to spread outward as <strong>the</strong> hous<strong>in</strong>g stock ages, while renewal <strong>of</strong>ten beg<strong>in</strong>s at <strong>the</strong> core.<br />
Some studies suggest a relationship between <strong>the</strong>se patterns <strong>of</strong> neighborhood transition<br />
and <strong>the</strong> spatial distribution <strong>of</strong> foreclosures. Our f<strong>in</strong>d<strong>in</strong>gs appear to be consistent with<br />
those <strong>of</strong> such studies.<br />
Map 6 Map 7<br />
Income Change by Census Tract: Median Income Type by Census Tract:<br />
<strong>City</strong> <strong>of</strong> <strong>Buffalo</strong>, <strong>1990</strong>-<strong>2000</strong> <strong>City</strong> <strong>of</strong> <strong>Buffalo</strong>, <strong>1990</strong>-<strong>2000</strong><br />
Fo reclo se d Property (<strong>2000</strong> ) · No Sig nifican t Cha nge (>10% - 10%)<br />
Increase (>10%)<br />
Small De cl<strong>in</strong> e (>10% to 20% )<br />
Large Decl<strong>in</strong>e (>20%)<br />
No Da ta<br />
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Sources: U.S. Bureau <strong>of</strong> Census; <strong>City</strong> <strong>of</strong> <strong>Buffalo</strong>, Division <strong>of</strong> Plann<strong>in</strong>g; <strong>Buffalo</strong> Law Journal.<br />
27<br />
· Foreclosed Property (<strong>2000</strong>)<br />
Stable Higher<br />
Changed to Higher (><strong>City</strong> Median)<br />
Stable Lower (