Homeownership

Description

This week, we’ll explore the dynamics of homeownership in the United States, focusing on the evolution of access to capital for homeownership and how disparities in access to capital have important consequences for certain populations. We’ll think about the evolution of the U.S. banking system and the ways in which financial innovation have changed who bears the risk in lending capital for homeownership. We’ll also think about how those changes shift risk away from banks and towards capital investors and housing consumers.

Discussants

Tillie and Dorian

Learning Goals

• Develop an understanding of homeownership as simultaneously a material and political project in the United States.
• Understand the evolution of key financial mechanisms that underscore homeownership.
• Articulate some of the risks and rewards associated with owner-occupied housing.

Readings

Keeyanga-Yamahtta Taylor - How Real Estate Segregated America

Investor Home Purchases and the Rising Threat to Owners and Renters: Tales from 3 Cities

Reid, Carolina - Homeownership and the Racial and Ethnic Wealth Gap in the United States

Slides

Additional Resources

• 10 Years Later: How the Housing Market Has Changed Since the Crash

•  Should the Community Reinvestment Act Consider Race?

•  Black Homeowners Face Discrimination in Appraisals

•  Financial Crisis Inquiry Commission Report

•  Renuart, Elizabeth, An Overview of the Predatory Mortgage Lending Process

•  How the Real Estate Boom Left Black Neighborhoods Behind - What Would it Take to Catch Up?