opportunity based housing: challenges and opportunities in the wake of the subprime lending crisis
TRANSCRIPT
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Christy RogersSenior Research AssociateThe Kirwan InstituteThe Kirwan InstituteGuest Lecture: Planning for Social and Racial Equity
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It’s not just your h it’ house – it’s your family, your friends, your neighbors, your local school, yyour doctor, your favorite grocery store…and all these things shape lives things shape lives, especially kids’ lives.
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f The denial of mortgage insurance …Banks reluctant to lend
ll Racially restrictive covenants Physical barriers (Detroit’s “wailing wall”)
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f Lack of low‐cost credit options Few preventative care doctors
h h l k f h High‐cost grocery stores that lack fresh produce and meat
d h l Concentrated poverty schools
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f Informal economies Extended family networks
l d Politicization and organization Community associations
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From Redlining to gReverse Redlining
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Findings Fair housing and fair credit are about local places, people, relationships, and histories Federal policy must support (and not undercut) b h i di i i i ff d ffi i both anti‐discrimination efforts and affirmative commitments to fair housing and fair creditWh t i f i d j t st C t i What is a fair and just 21st Century economic system, and what kind of financial system is needed to support it?needed to support it?
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