Subprime Lending/Foreclosure Crisis

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 homeownership. Modest federal interventions to buffer communities and homeowners from the crisis likely reinforced the unequal impact.

Business · Economics · Falling (accident) · Financial crisis · Financial system · Foreclosure · Keynesian economics · Finance · Housing Market and Economics · Housing, Finance, and Neoliberalism · Urbanization and City Planning

• Why Black and Latino Home Ownership Matter to the Color Line and Multiracial Democracy

  Open Access•Jacob S Rugh•Race and Social Problems•2020

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• American apartheid

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• Stuck in Place

  P Sharkey•Stuck in place•2013

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• The Land of Too Much

  Monica Prasad•Land of Too Much•2012

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• Metropolitan Segregation and the Subprime Lending Crisis

  Derek S Hyra, Derek Hyra et al.•Housing Policy Debate•2013

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• Racial Dynamics of Subprime Mortgage Lending at the Peak

  J W Faber•Housing Policy Debate•2013

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• Capitalizing on Crisis

  Greta R Krippner, Greta Krippner•Capitalizing on Crisis•2012

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• Are Ghettos Good or Bad

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• Racial and Spatial Targeting

  Jangsun Hwang, M Hankinson et al.•Social Forces•2015

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• Deporting the American Dream

  Open Access•Jacob S Rugh, Matthew Hall•Sociological Science•2016

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• The Neighborhood Stabilization Program

  James C Fraser, Deirdre Oakley•Journal of Urban Affairs•2015

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• Revisiting the subprime crisis

  Carolina Reid, Carolina K Reid et al.•Journal of Urban Affairs•2016

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• American home

  Elvin Wyly, Elvin K Wyly et al.•Geografiska Annaler Series B…•2006

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• Emerging Forms of Racial Inequality in Homeownership Exit, 1968–2009

  Gene Sharp, Matthew Hall•Social Problems•2014

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• Variations in Housing Foreclosures by Race and Place, 2005–2012

  Open Access•Matthew Hall, Kyle Crowder et al.•The Annals of the American…•2015

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• Neighborhood Income Composition by Household Race and Income, 1990-2009

  Open Access•Sean F Reardon, Lindsay Fox et al.•The Annals of the American…•2015

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• Racial Segregation and the American Foreclosure Crisis

  Open Access•Jacob S Rugh, D S Massey•American Sociological Review•2010

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• Redlining Revisited

  Open Access•Jesus Hernandez, Jesús Fernández Hernández•International Journal of Urban…•2009

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• The Changing Face of Inequality in Home Mortgage Lending

  Richard Williams, Reynold Nesiba et al.•Social Problems•2005

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• Race, Space, and Cumulative Disadvantage

  Jacob S Rugh, Len Albright et al.•Social Problems•2015

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