Number of K-12 Students in NYC Facing Foreclosure On the Rise, New Report Finds


While researchers have noted the deleterious effects of foreclosure on surrounding properties and neighborhoods, little is known about the effects of foreclosure on children. A new report, Kids and Foreclosure: New York City, released today by researchers at the Institute for Education and Social Policy (IESP) and Furman Center for Real Estate and Urban Policy begins to address the issue by estimating the number of students in New York City affected by the current foreclosure crisis.

Number of K-12 Students in NYC Facing Foreclosure On the Rise, New Report Finds

While researchers have noted the deleterious effects of foreclosure on surrounding properties and neighborhoods, little is known about the effects of foreclosure on children. A new report, Kids and Foreclosure: New York City, released today by researchers at New York University’s Institute for Education and Social Policy (IESP) and Furman Center for Real Estate and Urban Policy begins to address the issue by estimating the number of students in New York City affected by the current foreclosure crisis. To download a PDF of the report, click here.

“Few researchers have explored the human costs of  foreclosure, and virtually no one has considered the collateral costs on children,” said Ingrid Gould Ellen, faculty co-director of the Furman Center and a professor at NYU’s Wagner Graduate School of Public Service. “This study shows that the number of children living in foreclosed buildings in New York City is large and growing, and the impact falls disproportionately on black children.”

“Our study also reveals that the impact has been uneven across schools and neighborhoods,” reports Amy Ellen Schwartz, director of the Institute for Education and Social Policy and professor at NYU’s Steinhardt and Wagner schools.  “Most notably, a number of schools in northern Brooklyn and southeastern Queens are tasked with educating a disproportionate number of children affected by foreclosure.  Further study is needed to determine whether and to what extent a foreclosure action impacts a student’s performance in school.”

The report presents findings from the first phase of a two-part analysis of how foreclosures affect children, funded by the Open Society Institute as part of a three-city study exploring the issue. In the study, the researchers estimate the number of public school students in all grades (K-12) whose families live in properties that entered foreclosure in New York City during the 2003-04 and 2006-07 school years.  In addition, they compared the social and demographic characteristics of these students, and their schools, to those of other students.

Using data from the NYC Department of Education, as well as public data on lis pendens (LP) filingsthe official notice that commences a foreclosure action—the research team identified several key findings:

  • A sizable and growing number of NYC public school children live in buildings experiencing foreclosure. In 2006-07, the number of school children in homes facing foreclosure (18,525) increased 59 percent from the 2003-04 school year and represented close to 1 in 50 public school children.
  • Black children are disproportionately affected by foreclosure in New York City; in 2006-07 500

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