The Foreclosure Crisis

Prince George’s County was among the jurisdictions hardest hit by the nation’s housing foreclosure crisis. Between 2008 and 2011, almost 31% of all foreclosures in Maryland occurred in the County. While this troubling statistic dropped to 24.9% in 2012, equivalent to 4,265 foreclosure events, the effects of the crisis continue to reverberate throughout the County. High rates of foreclosure have depressed the housing market, destabilized neighborhoods, fueled property neglect and crime, and reduced County tax revenues.