Homeownership and America's Financial Underclass

Homeownership and America's Financial Underclass
Author: Mechele Dickerson
Publisher: Cambridge University Press
Total Pages: 289
Release: 2014-06-30
Genre: Law
ISBN: 1139992635

Why does America have a love affair with homeownership? For many, buying a home is no longer in their best interest and may harm their children's educational opportunities. This book argues that US leaders need to re-evaluate housing policies and develop new ones that ensure that all Americans have access to affordable housing, whether rented or owned. After describing common myths, the book shows why the circumstances now faced by America's financial underclass make it impossible for them to benefit from homeownership because they cannot afford to buy homes. It then exposes the risks of 'home buying while brown or black,' discussing US policies that made it easier for whites to buy homes, but harder and more costly for blacks and Latinos to do so. The book argues that remaining racial discrimination and certain demographic features continue to make it harder for blacks and Latinos to receive homeownership's promised benefits.

Homeownership and America's Financial Underclass

Homeownership and America's Financial Underclass
Author: Mechele Dickerson
Publisher: Cambridge University Press
Total Pages: 289
Release: 2014-06-30
Genre: Business & Economics
ISBN: 1107038685

Why does America have a love affair with homeownership? For many, buying a home is no longer in their best interest and may harm their children's educational opportunities. This book argues that US leaders need to re-evaluate housing policies and develop new ones that ensure that all Americans have access to affordable housing, whether rented or owned. After describing common myths, the book shows why the circumstances now faced by America's financial underclass make it impossible for them to benefit from homeownership because they cannot afford to buy homes. It then exposes the risks of 'home buying while brown or black,' discussing US policies that made it easier for whites to buy homes, but harder and more costly for blacks and Latinos to do so. The book argues that remaining racial discrimination and certain demographic features continue to make it harder for blacks and Latinos to receive homeownership's promised benefits.

The Rise and Fall of the Neoliberal Order

The Rise and Fall of the Neoliberal Order
Author: Gary Gerstle
Publisher: Oxford University Press
Total Pages: 441
Release: 2022
Genre: History
ISBN: 0197519644

Gary Gerstle provides a sweeping re-interpretation of the entire era - from the revival of market liberalism in the 1970s to the ruin generated by the 2008 global financial crisis - that places America at the center.--

The Foreclosure Echo

The Foreclosure Echo
Author: Linda E. Fisher
Publisher: Cambridge University Press
Total Pages: 227
Release: 2019-07-18
Genre: Business & Economics
ISBN: 1108415571

Fisher and Fox demonstrate how ordinary people experienced the foreclosure crisis and how lenders and public institutions failed to protect them.

Predatory Lending and the Destruction of the African-American Dream

Predatory Lending and the Destruction of the African-American Dream
Author: Janis Sarra
Publisher: Cambridge University Press
Total Pages: 329
Release: 2020-07-09
Genre: Law
ISBN: 1108853331

Since the Great Recession of 2008, the racial wealth gap between black and white Americans has continued to widen. In Predatory Lending and the Destruction of the African-American Dream, Janis Sarra and Cheryl Wade detail the reasons for this failure by analyzing the economic exploitation of African Americans, with a focus on predatory practices in the home mortgage context. They also examine the failure of reform and litigation efforts ostensibly aimed at addressing this form of racial discrimination. This research, augmented by first-hand narratives, provides invaluable insight into the racial wealth gap by vividly illustrating the predation that targets African-American consumers and examining the intentionally obfuscating settlement terms of cases brought by the U.S. Department of Justice, states attorneys, and municipalities. The authors conclude by offering structural, systemic changes to address predatory practices. This important work should be read by anyone seeking to understand racial inequality in the United States.

American Apartheid

American Apartheid
Author: Douglas S. Massey
Publisher: Harvard University Press
Total Pages: 312
Release: 1993
Genre: History
ISBN: 9780674018211

This powerful and disturbing book clearly links persistent poverty among blacks in the United States to the unparalleled degree of deliberate segregation they experience in American cities. American Apartheid shows how the black ghetto was created by whites during the first half of the twentieth century in order to isolate growing urban black populations. It goes on to show that, despite the Fair Housing Act of 1968, segregation is perpetuated today through an interlocking set of individual actions, institutional practices, and governmental policies. In some urban areas the degree of black segregation is so intense and occurs in so many dimensions simultaneously that it amounts to "hypersegregation." The authors demonstrate that this systematic segregation of African Americans leads inexorably to the creation of underclass communities during periods of economic downturn. Under conditions of extreme segregation, any increase in the overall rate of black poverty yields a marked increase in the geographic concentration of indigence and the deterioration of social and economic conditions in black communities. As ghetto residents adapt to this increasingly harsh environment under a climate of racial isolation, they evolve attitudes, behaviors, and practices that further marginalize their neighborhoods and undermine their chances of success in mainstream American society. This book is a sober challenge to those who argue that race is of declining significance in the United States today.

America's Trillion-dollar Housing Mistake

America's Trillion-dollar Housing Mistake
Author: Howard Husock
Publisher: Ivan R. Dee Publisher
Total Pages: 152
Release: 2003
Genre: Business & Economics
ISBN:

This book explains how public housing projects are not the only housing policy mistakes. Lesser known efforts are just as pernicious, working in concert to undermine sound neighborhoods and perpetuate a dependent underclass.

Financial Crisis, Corporate Governance, and Bank Capital

Financial Crisis, Corporate Governance, and Bank Capital
Author: Sanjai Bhagat
Publisher: Cambridge University Press
Total Pages: 259
Release: 2017-03-10
Genre: Business & Economics
ISBN: 1316764346

In the aftermath of the 2007–8 crisis, senior policymakers and the media have blamed excessive risk-taking undertaken by bank executives, in response to their compensation incentives, for the crisis. The inevitable follow-up to this was to introduce stronger financial regulation, in the hope that better and more ethical behaviour can be induced. Despite the honourable intentions of regulation, such as the Dodd–Frank Act of 2010, it is clear that many big banks are still deemed too big to fail. This book argues that by restructuring executive incentive programmes to include only restricted stock and restricted stock options with very long vesting periods, and financing banks with considerably more equity, the potential of future financial crises can be minimized. It will be of great value to corporate executives, corporate board members, institutional investors and economic policymakers, as well as graduate and undergraduate students studying finance, economics and law.

Evidence and Innovation in Housing Law and Policy

Evidence and Innovation in Housing Law and Policy
Author: Lee Anne Fennell
Publisher: Cambridge University Press
Total Pages: 357
Release: 2017-08-29
Genre: Business & Economics
ISBN: 1107164923

This interdisciplinary volume illuminates housing's impact on both wealth and community, and examines legal and policy responses to current challenges. Also available as Open Access.