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Vouchers And Affordable Housing: The Limits Of Choice In The Political Economy Of Place, Rigel C. Oliveri
Vouchers And Affordable Housing: The Limits Of Choice In The Political Economy Of Place, Rigel C. Oliveri
Faculty Publications
America's housing segregation problem, and the direct role of government and private actors in creating it, is well documented. What to do about it is less clear. And even when consensus develops about particular strategies, they can be difficult to implement because of significant headwinds that impede change. These headwinds-including market forces, government policies, and private prejudices-continue to stymie progress, and even well-intentioned reform efforts can fail at best and lead to negative consequences at worst. This piece seeks not to provide answers, but rather to describe one such set of reforms and headwinds and to propose some modest policy …
Supbrime Lending/Foreclosure Crisis, Jacob Rugh
Supbrime Lending/Foreclosure Crisis, Jacob Rugh
Faculty Publications
Subprime mortgage lending in the USA rose alongside home prices and lasted about 15 years, ending abruptly in late 2007, setting off a national foreclosure crisis. Between 2007 and 2012 there were 9 to 12 million foreclosures filings and 4 to 5 million completed foreclosures. The ensuing foreclosure crisis stemmed more from falling home prices but its unequal distribution across society by race and space was also the product of legacies of exclusion and a shared consensus on the expansion of mortgage credit and home ownership. Modest federal interventions to buffer communities and homeowners from the crisis likely reinforced the …