打印

作者

来源

JOURNAL OF URBAN AFFAIRS,Vol.39,Issue4,P.469-487

语言

英文

关键字

US FORECLOSURE CRISIS; NEIGHBORHOOD CHANGE; UNITED-STATES; BORROWERS; MODELS; IMPACT; HYBRID

作者单位

[Reid, Carolina K.] Univ Calif Berkeley, Dept City & Reg Planning, 228 Wurster Hall 1850, Berkeley, CA 94720 USA. [Bocian, Debbie] Abt Associates Inc, Social & Econ Policy Div, Cambridge, MA USA. [Li, Wei] Urban Inst, HFPC, Washington, DC 20037 USA. [Quercia, Roberto G.] Univ N Carolina, Dept City & Reg Planning, Chapel Hill, NC USA. [Quercia, Roberto G.] Univ N Carolina, UNC Ctr Community Capital, Chapel Hill, NC USA. Reid, CK (reprint author), Univ Calif Berkeley, Dept City & Reg Planning, 228 Wurster Hall 1850, Berkeley, CA 94720 USA. E-Mail: c_reid@berkeley.edu

摘要

The impacts of the foreclosure crisis have been widespread, catalyzing the worst economic downturn since the Great Depression and leading to dramatic declines in housing equity and wealth. However, Black and Hispanic households and communities have been disproportionately affected by the crisis, contributing to a tightening of credit standards and a retrenchment of lending in these communities. This study uses a unique, national data set of purchase mortgages originated between 2004 and 2007 to examine the racial and ethnic dimensions of subprime lending practices that were prevalent during the boom and explores the role that these lending practices had on subsequent rates of default. This study thus contributes to the debate on the causes of the housing crisis and its implications for racial inequality in America.