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Full-Text Articles in Law
A New American Dream For Detroit, Andrea Boyack
A New American Dream For Detroit, Andrea Boyack
Faculty Publications
The problem of neighborhood deterioration is keenly visible in Detroit today, but Detroit’s housing struggles are not unique. Like most of America, the Detroit metropolitan area is racially fragmented, and minority neighborhoods are the most likely to be impoverished and failing. Detroit’s problems of housing abandonment and neighborhood decay are both caused and exacerbated by decades of housing segregation and inequality. The “American Dream” has always been one of equal opportunity, but there can be no equality of opportunity when there is such stark inequality among home environments. Detroit’s neighborhood decline is a symptom of the city’s population loss and …
Counting Casualties In Communities Hit Hardest By The Foreclosure Crisis, Matthew Rossman
Counting Casualties In Communities Hit Hardest By The Foreclosure Crisis, Matthew Rossman
Faculty Publications
Recent statistics suggest that the U.S. housing market has largely recovered from the Foreclosure Crisis. A closer look reveals that the country is composed not of one market, but of thousands of smaller, local housing markets that have experienced dramatically uneven levels of recovery. Repeated waves of home mortgage foreclosures inundated certain communities (the “Hardest Hit Communities”), causing their housing markets to break rather than bend and resulting in what amounts to a permanent transition to a lower value plateau. Homeowners in these predominantly low and middle income and/or minority communities who endured the Foreclosure Crisis lost significant equity in …