1 Exploring the Foreclosure Contagion Effect Using Agent-Based Modeling by Marshall Gangel Virginia Modeling, Analysis, and Simulation Center (VMASC) Old Dominion University Norfolk, VA 23529 mgang002@odu.edu Michael J. Seiler* Professor and Robert M. Stanton Chair of Real Estate and Economic Development Old Dominion University 2154 Constant Hall Norfolk, VA 23529-0223 mseiler@odu.edu 757.683.3505 phone 757.683.3258 fax and Andrew Collins Virginia Modeling, Analysis, and Simulation Center (VMASC) Old Dominion University Norfolk, VA 23529 ajcollin@odu.edu June 2011 This article has been accepted for publication in Journal of Real Estate Finance and Economics * Contact author