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The foreclosure crisis that followed the 2008 housing crash has resulted in a high volume of vacant properties across the nation. According to U.S. Census Bureau data for the last quarter of 2013, 10.2 percent of all housing units — 13.6 million — were vacant year-round. And while the housing market may be showing signs of improvement, more than 1.2 million properties are still in some stage of foreclosure, according to RealtyTrac, a real estate information firm specializing in foreclosed and defaulted properties.
High foreclosure and vacancy rates are not only symptomatic of economic problems; they contribute to them and are linked with increases in crime and declines in home values and local property tax revenue.
In response, some states — including Indiana, Kansas, Michigan, Nebraska and Ohio in the Midwest — have instituted local land banks: public entities that acquire and manage tax-foreclosed properties.

Rates of foreclosure are at levels not seen the 1930s, and some communities in the Midwest have been particularly hard hit by a rise in the number of blighted properties. States are responding with new measures and investigations designed to help troubled communities and homeowners.