foreclosures: geography & race in riverside_exhibit materials

8/6/2019 Foreclosures: Geography & Race in Riverside_exhibit Materials

http://slidepdf.com/reader/full/foreclosures-geography-race-in-riversideexhibit-materials 1/16

Sycamore Canyon Park

ArlanzaWhite (28.2%)

Hispanic (61.1%)African American (4.6%)

Foreclosures, Aug 2008:

1.01%

Airport

White (34.7%)Hispanic (48.8%)

African American (8.9%)


.88%

La Sierra Acres




.90%

La Sierra Hills


Asian (5.9%)


.53%

La SierraWhite (41.7%)



.71%

La Sierra South


Asian (4.5%)


.98%

Arlington Heights




.72%

Arlington South

White (58.3%)Hispanic (31.2%



.59%

Arlington




.73%

Presidential Park




.76%

Ramona




.70%

Magnolia Center




.61%

CasablancaWhite (62.3%)



.83%

Grand




.31%

Wood StreetsWhite (66.3%)



.21%

Victoria




.35%

Eastside




.48%

Hawarden Hills


Asian (5.0%)


.10%

Alessandro Heights


Asian (11.0%)


.37%

Canyon CrestWhite (64.8%)



.20%

University


Asian (21.3%)


.38%

Northside




.81%

Downtown




.70%

Hunter Industrial

Park

N/A


1.16%

Mission Grove


Asian (11.3%)


.55%

Orangecrest




.57%

Sycamore Cany

Canyon Sprin

N/A

Foreclosures in Riverside, August 2008

August 2008 marked the peak of the current

foreclosure crisis, the result of sub-prime mort-

gage loans made as far back as 2006.

This moment of crisis highlighted the unequal

impact of foreclosures on dierent neig hbor-

hoods within the city. In general, areas with a

high percentage of minority residents suered

the highest rates of foreclosure.

This map shows the racial composition of each

neighborhood within Riverside and the fore-

closure rate from August 2008. The numbers

for the foreclosure rate may appear small (from

0.10% to 1.16%), but remember that these areforeclosures for one month only, and that each

foreclosure also aects the value of other prop-

erties in its area.

Foreclosure rates for City of Riverside, 2000-2009,showing peak of foreclosure crisis in August 2008

Demographicdata isfrom the U.S.Census, Census

2000,andwascompiledforeach neighborhoodby theCity of Riverside Community DevelopmentDepart-

ment.Foreclosure ratesfrom www.zillow.com.



386

96

29

151

628

5,879

952

12,749

White (28.2%)

Hispanic (61.1%)


American Indian & Alaskan (0.7%)

Asian (3.0%)

Hawaiian & Pacific Islander (0.5%)

Some Other Race (0.1%)

2 or More Races (1.8%)

Population by Race**Foreclosure Rate*

Area: 2.93 sq miles (3.6% of City Area)

Population: 20,870 (Citywide: 255,166)

Arlanza Neighborhood

Chart shows average monthly foreclosure rates

(as a % of total residences) for 2008-2009 for six

neighborhoods.

*Foreclosure Data from www.zillow.com

**Population Data from U.S. Census Bureau,

Census 2000, courtesy of the City of Riverside

Community Development Department.

(Arlanza shown in red)




La Sierra Neighborhood



neighborhoods.





(La Sierra shown in red)

678

10,458 1,744

10,419

1,361

158

60

121

White (41.7%)

Hispanic (41.8%)



Asian (5.5%)









Orangecrest Neighborhood



neighborhoods.





(Orangecrest shown in red)

330

2,295 859

6,443

838

53

22

9

White (59.4%)

Hispanic (21.2%)



Asian (7.7%)









Magnolia Center Neighborhood



neighborhoods.





(Magnolia Center shown in red)

Neighborhood Population by Race**

287

3,222

808

7,880

322

71

22

27

White (62.3%)

Hispanic (25.5%)



Asian (2.5%)









Canyon Crest Neighborhood



neighborhoods.





(Canyon Crest shown in red)

566

1,977 1,133

10,168

1743

30

52

28

White (64.8%)

Hispanic (12.6%)


American Indian & Alaskan (0

Asian (11.1%)

Hawaiian & Pacific Islander (0







latimes.comSUNDAY, AUGUST 2, 2009

Latinos who ocked to the once-

burgeoning Inland Empire arehard-hit in economic downturn

Because the construction and service jobs

they lled are gone and the houses they

bought may be in foreclosure, they feel the

brunt of the recession.

August 02, 2009|Anna Gorman and Rich Connell

With sprawling new housing tracts transforming the Inland Empireearlier this decade, word traveled to immigrants across the state. Therewere jobs -- lots of jobs.

Mexican native Ramon Granados got the news in the Northern Califor-nia town of Watsonville. He moved to Riverside in 2004 and quicklywas hired as an electrician.

"There was tons of work -- new apartments, new construction," saidGranados, 25, a U.S. citizen. "Everybody wanted to come to this part of California."

He had a steady job for four years, working his way up to $17 an hourplus benets for himself, his wife and their two children. But when theeconomy crashed last year, Granados was laid o. These days, he waitsunder a tree outside a Home Depot o the 91 Freeway, hoping for aday's work at $8 an hour.

"I'll do anything to bring food to my table," he said. "Here, I get at leasta chance of getting a job."

Granados and fellow immigrants transformed the face of the InlandEmpire. As hundreds of thousands of immigrants chased constructionand service jobs and the chance to own a home in Riverside and San

Bernardino counties, the region's Latino population soared. Latinoswere one-quarter of Riverside County's population in the 1990 Census,for example, and 43% by 2007.

Now, with the region's economy reeling from a brutal recession inwhich home construction has collapsed and unemployment rateshave soared as high as 20% in some areas, its immigrant residents areamong the hardest hit.

Economic data do not single out the recession's eects on immigrants,but researchers and employment specialists note that Latinos, includ-ing many immigrants, are heavily represented in construction jobsthat have some of the Inland Empire's highest unemployment rates.

Joblessness among Latinos across California has surpassed all otherethnic groups, including blacks, for the rst time since the economicdownturn began, according to new data released by the Economic

It also can increase social conicts and challenges.

"Because they are choosing areas with less established immigrantnetworks," Bohn said, "they don't have the institutions or organiza-tions to fall back upon."

Now many immigrants, including some who have been in the U.S. fodecades, are struggling to adapt to unemployment in new areasaround the state.

Workforce development oces have seen a ve-fold increase in jobless clients seeking retraining, many of them minorities, accordinto the Riverside County Economic Development Agency.

Edwin Fuentes, 41, a naturalized U.S. citizen from El Salvador, ippedthrough postings at the Workforce Development Center of RiversideCounty last month. He left Santa Ana in 2006 to buy his rst home inPerris. Later that year, the plumbing company where he worked foreight years, earning $20 an hour, shut down. His home went intoforeclosure, and he and his wife have moved in with relatives.

Jobs are scarce, he said. "You nd work and then when things getslow, they lay you o and you start all over again."

Immigrants often nd it harder to land new jobs, because many lack education or English skills and aren't as comfortable applying forpositions online, said Sylvia Spigner, a job center worker. And jobcompetition has become erce. In some cases, Spigner said, skilled

applicants are chasing jobs as truck drivers, dishwashers and phoneoperators. "The immigrants are competing with professionals who arwilling to take these jobs," she said.

Riverside County Supervisor Bob Buster said the increase in immi-grants coupled with the economic downturn has prompted debateover immigration policy and funding for local services.

"With the recession, everybody's watching the dollar [and debatingwhich] people we should be spending money on," he said, noting thhe was reviewing a constituent letter expressing concern abouthealthcare services for illegal immigrants.

Diversity has prompted adjustments in an array of government activ

ties, including the hiring of bilingual county employees, greater use obilingual ballots and poll workers and adding programs for children changing neighborhoods that have seen an inux of Latino families,Buster said.

One challenge for schools, now facing recession-driven budget cuts,has been providing support for students with limited English skills,said Kenneth Young, Riverside County schools superintendent. Latinenrollment grew dramatically during the boom years, and now Latinconstitute a majority of students, he said.

With much uncertainty about the future of the economy, researcherscan't predict how immigrants in the Inland Empire will respond. New

state data show overall domestic migration to the Inland Empire,including immigrants and non-immigrants, dropped sharply last yeaAnd studies by the Pew Hispanic Center and others show that the o

f ll i i t i t th U S h l d i t



Predatory Lending and the Foreclosure Crisis in Riverside: Local Impact (Steve Duncan) Page 1 of 7

Regional and racialized impacts of the foreclosure crisisBy Steve Duncan

[Note: This is a portion of a larger project co-authored with Isabelle Placentia and

Richard Alvarado]

California

California has been impacted particularly severely by the foreclosure crisisrelative to other states, both in absolute numbers and on the basis of foreclosures per unit

of residential property. This has been a multi-year pattern and it is also connected toissues of residential property values and thus to issues of equity and wealth accumulation

for homeowners; sociologist Vanesa Estrada Correra has noted, for example, thatCalifornia has been “above the national average in foreclosure starts in its quarterly

National Delinquency Survey since 2007” and that “this corresponds to the same periodin which California’s housing price index has fallen.”1

This dry language should not

obscure the profound impact of the foreclosure crisis in terms of human suffering andlong-term inequalities and wealth distribution. As the Center for Responsible Lending put

it, in less moderated but equally accurate language, “reckless and abusive lending practices have left California victim to a foreclosure crisis with catastrophic

consequences for families, communities and the state economy.”2 For California, this is very much an ongoing problem. In general, 2008 has been

seen as the peak of the foreclosure crisis in the context of the nation as a whole.However, in the first quarter of 2010, California had 216,263 properties with foreclosure

filings during the quarter.3

This was the highest foreclosure total for any state in thenation for the quarter, and the fourth highest foreclosure rate as a percentage of the total

number of residential properties. 4 This indicates only a very slight drop (6 percent) inforeclosures relative to the same quarter in the prior year, and it is actually a slight

increase (5 percent) over the directly preceding quarter.5

Averaged out against the totalresidential units in the state, this means that “one in every 62 California housing units

received a foreclosure filing during the quarter.”6 Data indicates that the statewide problem of foreclosures will continue at least

into the near future, inasmuch as many foreclosure filings—the numbers cited above— are only early steps in the long process of actual foreclosure. Foreclosure filings include

three different types of documents. The data above, as well as the regional foreclosure

1 Vanessa Estrada Correa, “The Housing Downtown and Racial Inequality.” Policy Matters Vol 3, Issue 2, Fall 2009.Page 5. Housing price index research comes from the Federal Housing Finance Agency (2008), and Foreclosure data

cited from the Mortgage Bankers Association. 2

Center for Responsible Lending. “California Economic Outlook: Greater Foreclosures Loom, Threaten to Delay

Economic Recovery.” Policy Brief, November 2009. Page 1/ Executive Summary (online at

http://www.responsiblelending.org/California) 3

RealtyTrac Staff. California Foreclosure Activity, First quarter 2010: Jan-Mar. RealtyTrac U.S. Foreclosure Market

Report. www.realtytrac.com. 4

RealtyTrac, California Foreclosure Activity, First quarter 2010. 5

RealtyTrac, California Foreclosure Activity, First quarter 2010. 6

RealtyTrac, California Foreclosure Activity, First quarter 2010.




data used in the exhibit component of this project, was provided by RealtyTrac, an onlinemarketplace for foreclosure properties and a provider of mortgage and home sales data.

RealtyTrac notes that its “foreclosure filing” data includes “default notice[s], foreclosureauction notice[s], or bank repossession[s].”7 The most severe category is the third: these

are REO properties (Real Estate Owned), which have actually gone through the

foreclosure process and are now owned by a bank.REOs are the “actual foreclosures,” and their numbers are generally much lessthan the total number of other types of foreclosure filings. For example, for the first half

of 2009, the state of California had 259,993 notices of default, but only 89,287 actualforeclosures (REOs). To a large extant this shows that not all properties that risk

foreclosure, or that move toward foreclosure, are actually foreclosed upon. However, thedisparity between foreclosure filings overall versus REOs can to some extent also be seen

as an indication of future foreclosures, or at least foreclosure potential.This has been called a “foreclosure backlog” by some analysts, and it hints that

not only does California’s foreclosure crisis continue at present, but that it will continueinto the future as well. As the Center for Responsible Lending ominously explained in

later 2009, “it is likely that the majority of this backlog will result in future foreclosures,as loan modifications are preventing foreclosures in fewer than one in five seriously

delinquent loans.”8

In fact, this pessimism is unfortunately widely supported by other data. The current wave of foreclosures that peaked in 2008 has generally been a function

of the sub-prime loans made to borrowers who were often clearly unequipped to pay back the loan. The Center for Responsible Lending, however, has also predicted that the next

wave of foreclosures will be in the “Alt-A mortgage market,” which refers to mortgageloans “made to near-prime quality borrowers.”

9This is particularly relevant to California

because, in fact, the state has “more than 30 percent of the nation’s Alt-A loans” made between 2000 and 2007. The center predicts that “as subprime loans begin to pass their

payment reset or recast dates, Alt-A loans will enter a period of dramatic paymentshocks, starting in late 2009.”

10Additionally, the drastic drop in home prices throughout

the state left many borrowers owing more on their mortgage than the total worth of their home, or “underwater.” Over 40 percent of the state’s residential properties were

underwater in 2009, and a 2009 study by DeutscheBank estimated that “by 2011, nearly70 percent of California homeowners will be under water.”

11

San Bernadino & Riverside Counties

7

RealtyTrac, California Foreclosure Activity, First quarter 2010.A fuller explanation of the data, as explained by RealtyTrac, is below:

RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default — Notice of

Default (NOD) and Lis Pendens (LIS); Auction — Notice of Trustee Sale and Notice of Foreclosure Sale

(NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased

by a bank). 8

Center for Responsible Lending, 2009 9



Cited in Center for Responsible Lending, 2009




The impact on California in general is also particularly concentrated within theInland Empire area, and in the San Bernadino-Riverside metropolitan area. Individually,

the two counties represent the second and third greatest total number of foreclosures inthe state, surpassed only by Los Angeles County (which has a far larger population). In

May 2010, for example, Riverside had 7,141 foreclosure filings and San Bernadino had

6,538, while Los Angeles County had 14,203.

12

Overall, for the first quarter of 2010,reports from data compiled by RealtyTrac indicate that “Riverside County had the highestcounty foreclosure rate in the metro area…with one in every 34 housing units receiving a

foreclosure filing,” while “San Bernardino County had the second highest foreclosurerate” with one in every 38 housing units receiving a foreclosure filing.”

13The counties

are also very high for “underwater” homes; in 2008, 39 percent of San Bernardino homesand 46 percent of Riverside County homes owed more than 105 percent of the property’s

value, as opposed, for example, to 24 percent for Orange County or 29 percent for LosAngeles county.

Racialized Impacts of Predatory Lending

The county level also provides a good perspective from which to begin toexamine the demographics of the foreclosure crisis, and its racialized and unequal impact.

Numerous analysts have noted that “hardest hit borrowers are minorities and immigrants,and neighborhoods with high concentrations of subprime borrowers…”

14

To a large extent this is a function of the racially disparate application of predatory lending practices. Sociologist Vanesa Estrada Correa has determined, for

example, than in 2007 “over 30% of loans to Latinos and African American homebuyersin Riverside and San Bernadino Counties were sub-prime loans while fewer than 15% of

White homebuyers had subprime loans made.”15

High-cost loans are one element of whatshe calls “housing stran,” defined as spending more than 30 percent of income on

mortgage costs, and she suggests that this is a key indicator of the risk factor for foreclosure. She notes that in her study area of Riverside County, even after “controlling

for income and other factors, Latinos were the ones most likely to experience housingstrain (63%), followed by Asian Americans (54%), African Americans (53%), and whites

(41%).”16

City of Riverside

Our project used the City of Riverside as an opportunity to examine the

correlation between racial composition of neighborhoods and disparate experiences of foreclosure. To do this, we used foreclosure data from foreclosure and real-estate industry

12RealtyTrac Staff. “California Real Estate Trends: May 2010.” RealtyTrac U.S. Foreclosure Market Report.

www.realtytrac.com. 13

RealtyTrac, “California Real Estate Trends: May 2010.” 14

Joseph Carreras. “The Mortgage lending crisis: impact on people and places.” 8th Annual Regional Housing Summit,

May 2008, Southern California Association of Governments. 15

Estrada Correra 2009, 6 16

Estrada Correa 2009, 9




sources including RealtyTrac (an online marketplace and a data provider for foreclosedresidential properties) and Zillow (an online brokerage and marketplace that also

provides foreclosure data for consumer and real-estate industry needs). We combined thiswith race/ethnicity data for neighborhood demographics from the U.S. Census (the 2000

Census). The census data used had already been broken down by individual

neighborhood by the City of Riverside Planning Department, and the foreclosure/realestate data was likewise geographically delimited. Because the data available gaveforeclosure filing rates on a monthly basis, and because the monthly rate varied so

drastically between, for example, the peak of the crisis in August 2008 and moments of relative stasis during the winters, we decided to use an average of monthly foreclosure

rates for the period of 2008-2009.In general, and in very broad terms, the data showed a clear correlation between

the non-white percentage of neighborhood population, and the average rates of foreclosure for that neighborhood. For example, two of the neighborhoods with the

highest average monthly foreclosure rates were Northside (32% white, 52% Hispanic, 9%African American) which had an average monthly foreclosure rate of 0.55%, and Arlanza

(28% white, 61% Hispanic, 5% African American) had an average monthly rate of 0.44%.17

In contrast, the lowest rate of foreclosure, 0.08%, was seen in Hawarden Hills,

which is 79% white.The total population of Riverside in the 2000 Census was 255,166. For the

exhibit, we selected six neighborhoods of the 26 Riverside neighborhoods. Selecting onlyfrom those neighborhoods with a population of more than 10,000, we chose three

representative neighborhoods from among those with the highest rates of foreclosure andthree from those with the lowest rates.

In considering this issue from a methodological or analytical perspective,

it is important to note that it is generally impossible to clearly determine thedemographics of the individuals actually foreclosed upon. Race is not reported when

foreclosure filings are registered in RealtyTrac’s database, for example. Instead, analysisof the racialized impacts of foreclosure rests in part upon the degree to which foreclosure

patterns overlap with racially segregated communities. Census data providesdemographic information about communities, as defined by geographic identifiers like

neighborhoods or zip codes, and this can be correlated with foreclosure data to provide aclear picture of how foreclosure affects that particular community. What is not always

clear is whether the demographics of the community as a whole is also reflected in thedemographics of the foreclosure victims.

At the same time, foreclosure clearly impacts the community as a whole—someestimates, for example, suggest that an individual foreclosure will reduce the value of

neighboring homes by something like 0.9% for all homes within 1/8 miles. Thus, there isin fact a clear way in which foreclosures DO affect everyone within that geographic

region, although it is indirect.

17In fact, the two neighborhoods with the highest recorded average foreclosure rate were Arlington Heights (60%

white, 24% Hispanic, 6% African American) and Hunter Industrial Park, but these neighborhoods have small

populations—2,308 and and 1,237 respectively—and so they do not provide statistically useful samples.

Data is from RealtyTrac foreclosure database and the U.S. Census, compiled by the City of Riverside planning

department.




There is also a clear correlation between foreclosure and various risk factors, suchas having high-cost or predatory loans, that are able to be directly connected with

demographic identifiers like race. In particular, as Vanesa Estrada Correa has noted, theHome Mortgage Disclosure Act (HDMA), passed in 1975, requires lenders to report on

mortgage lending activity with data that includes “Applicant Ethnicity” and “Applicant

Race.”

18

This data can, to some extent, help inform analysis with a greater degree of precision. Vanesa Estrada Correa’s approach is uniquely useful, however, not only because she uses the different types of data mentioned above, but also because she

integrates the insights offered by closer surveys of samples of individuals from within a particularly area.

Recognizing these analytical and methodological limitations, and also recognizing

that the City of Riverside provides only a small sample, we nonetheless found that itillustrated broader trends that other researchers have noted. In particular, there was a

clear correlation in our sample set between the Hispanic population of individualneighborhoods and the rate of foreclosure. This appears to be the outcome of two factors

that have contributed to the racial inequality of the foreclosure crisis.The first is institutionalized racism within the practices of predatory lending, as

discussed above. Investigations have now shown that institutions like Wells Fargotargeted racially identified neighborhoods for high-cost predatory loans. This is in many

ways a direct descendent of the racialized “redlining” practices of the early and mid-twentieth century. As a New York Times article explained, referring to the impact of such

racist practices on African American populations in other parts of the country:Mortgage lenders like Countrywide and Wells Fargo sought out minority

homebuyers for the heartbreakingly simple reason that, for decades, blackshad been denied mortgages on racial grounds, and were thus a ready-made

market for the gonzo mortgage products of the mid-’00s.19

Similarly, Latino communities have been targeted in California as being relatively

naïve or inexperienced home-buyers, and as susceptible to predatory lending both because of this perceived inexperience. This is closely related to the second factor

involved in the racialization of foreclosure in the Riverside region: the fact that morerecent homeowners are the most susceptible to becoming victims of predatory lending

and of foreclosure. This means that immigrants and new arrivals to any region will facethe highest risk—while at the same time often having the least resources available to deal

with economics downturns. A 2009 L.A. Times article, for example, noted that in recentyears, “in Riverside and San Bernardino counties, the region's Latino population soared.

Latinos were one-quarter of Riverside County's population in the 1990 Census, for example, and 43% by 2007.”

20At the same time, “Latinos tend to have more subprime

mortgages than those in other ethnic groups and are overrepresented in neighborhoodswith high foreclosure rates.” 21

Vanesa Estrada Correa has also noted the role that language plays in making

18Estrada Correa 2009, 7; also “HMDA Glossary” on the Home Mortgage Disclosure Act website,

http://www.ffiec.gov/hmda/glossary.htm#R 19

Barbara Ehrenreich and Dedrick Muhammad. “The Recession's Racial Divide” New York Times, September 13, 2009 20

Anna Gorman and Rich Connell. “Latinos who flocked to the once-burgeoning Inland Empire are

hard-hit in economic downturn.” LA Times, August 02, 2009 21

Anna Gorman and Rich Connell, 2009




recent immigrants who are not native English speakers susceptible to predatory lending.“Despite California laws which require translation of mortgage documents, 64% of

mortgage counseling agencies in the CRC September 2008 survey reported that it was“very common” that their clients are not English speakers, yet have English loan

documents which they could not read.”22

The problems illustrated in this project are broad, and solutions are not simple. Arealistic analysis of the racialized and unequal impact of the foreclosure crisis, however,makes it clear that race is an important consideration in fully understanding how this

crisis affects people. Solutions, therefore, should also recognize the racism and theracialized outcomes that have exacerbated this crisis in many regions. As a recent report

on “Fair Credit and Fair Housing” explained: Because unequal and segregated credit emerged hand-in-hand with

racially segregated housing markets, the provision of fair credit and fair housing opportunity must be pursued together. These tools of community

and asset exclusion reinforced each other – people of color were deniedcredit and could not build and pass on intergenerational wealth – and they

must be understood and unwound together.

23

22Estrada Correa 2009, 7

23Christy Rogers and Jason Reece, primary researchers. “Fair Credit and Fair Housing in the Wake of the Subprime

Lending and Foreclosure Crisis: Findings from the Kirwan Institute Initiative.” W.K. Kellogg Foundation and the

Kirwan Institute, Ohio State University, February 2010, Page 23.




Works Cited

Carreras, Joseph. “The Mortgage lending crisis: impact on people and places.” 8th Annual Regional Housing Summit,

May 2008, Southern California Association of Governments.

Center for Responsible Lending. “California Economic Outlook: Greater Foreclosures Loom, Threaten to Delay

Economic Recovery.” Policy Brief, November 2009. Page 1/ Executive Summary (online at

http://www.responsiblelending.org/California)

Correa, Vanessa Estrada. “The Housing Downtown and Racial Inequality.” Policy Matters Vol 3, Issue 2, Fall 2009.

Ehrenreich, Barbara and Dedrick Muhammad. “The Recession's Racial Divide” New York Times, September 13, 2009

Gorman, Anna and Rich Connell. “Latinos who flocked to the once-burgeoning Inland Empire are

hard-hit in economic downturn.” LA Times, August 02, 2009

Home Mortgage Disclosure Act & Home Mortgage Disclosure Act Glossary, available on the Home Mortgage

Disclosure Act website, http://www.ffiec.gov/hmda/

RealtyTrac Staff. “California Foreclosure Activity, First quarter 2010: Jan-Mar.” RealtyTrac U.S. Foreclosure Market

Report. www.realtytrac.com

RealtyTrac Staff. “California Real Estate Trends: May 2010.” RealtyTrac U.S. Foreclosure Market Report.www.realtytrac.com.

Rogers, Christy and Jason Reece, primary researchers. “Fair Credit and Fair Housing in the Wake of the Subprime

Lending and Foreclosure Crisis: Findings from the Kirwan Institute Initiative.” W.K. Kellogg Foundation and the

Kirwan Institute, Ohio State University, February 2010

foreclosures: geography & race in riverside_exhibit materials

Documents