opportunity based housing: challenges and opportunities in the wake of the subprime lending crisis
TRANSCRIPT
Christy RogersSenior Research AssociateThe Kirwan InstituteThe Kirwan InstituteGuest Lecture: Planning for Social and Racial Equity
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.
f The denial of mortgage insurance …Banks reluctant to lend
ll Racially restrictive covenants Physical barriers (Detroit’s “wailing wall”)
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
f Informal economies Extended family networks
l d Politicization and organization Community associations
From Redlining to gReverse Redlining
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?