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City University of New York (CUNY)

Community development

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The Dream Defaulted: Foreclosure, Crisis, And Hope In Baltimore, Maryland, And Detroit, Michigan, Heidi M. Rafferty-Reijm Feb 2016

The Dream Defaulted: Foreclosure, Crisis, And Hope In Baltimore, Maryland, And Detroit, Michigan, Heidi M. Rafferty-Reijm

All Dissertations, Theses, and Capstone Projects

In the United States, the late 2000s were a time of crisis that tested many urban decision-makers. The recession that started in 2007 was defined by a severe crash in the housing market and the proliferation of mortgage foreclosures across the country. Foreclosures occurred in urban, suburban, and rural communities, but had a particularly devastating impact on larger, older cities and their low and moderate-income neighborhoods. These cities had been dealing with economic and population decline for half a century. In many of their urban neighborhoods, foreclosures affected as many as one in four households and added yet another challenge ...