Resources


IN THE NAME OF THE ENVIRONMENT

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Homeownership_2016

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Bay Area Council Housing & Sustainable Development

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Immigrant Contributions to Housing Demand in the United States

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Immigrants are an important and growing source of demand that has bolstered housing markets in
recent decades. As recently as 1990, immigrants were heavily concentrated in a few gateway states,
such as California, New York and Florida. More recently, growing numbers of immigrants have located
in new destinations throughout the nation. In the aftermath of the 2007 collapse and subsequent
stagnation of housing markets in most states, there is a need for better understanding of immigrants’
potential contribution to a recovery of demand for housing and homeownership in the years ahead.

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Measuring the Benefits of Homeowning: Effects on Children Redux

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Fifteen years ago, Green and White (1997) published a paper in the Journal of Urban Economics that
found that children of homeowners were more likely to stay in school and less likely to have children
of their own by age 17 than children of renters.1
We also found that longer tenure mitigates the adverse
effect of renting, so that children of renters are more likely to stay in school if their families have lived
in the same rental unit longer. Thus owning may produce better outcomes for children than renting in
part because owners generally move less frequently than renters. Haurin, Parcel and Haurin (2002)
reach a similar conclusion. Other studies, such as those by Aaronson (2000) and Barker and Miller
(2009), argue that it is wealth accumulation by families that affects whether their children succeed,
rather than whether families own versus rent.

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Homeownership Boom and Bust 2000-2009: Where will the Homeownership Rate Go From Here?

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The boom and bust in housing markets defined the opening decade of the 21st century. Sharp declines
in house prices served as a catalyst for the 2007 meltdown in mortgage and capital markets and
the downturn in the global economy. The past decade also witnessed a dramatic boom and bust
in homeownership. In 2000, U.S. homeownership rates stood at roughly 67 percent, the highest
level recorded to that point in time. That rate jumped to a new all-time high of 69.2 percent in the
fourth quarter of 2004 and remained at roughly that level through the middle of 2006. With the
onset of the 2007 financial crisis, homeownership rates have dropped, falling to 66.4 percent in
the first quarter of 2011.

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FORECLOSURES by RACE

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Since housing prices began their precipitous decline in January 2007 and foreclosure rates skyrocketed, no one has assessed exactly how many mortgages have ended in foreclosure or who has been affected. Although a number of useful mortgage databases are available, there is no official, nationwide, publicly available census of completed foreclosures or associated demographic information.

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FORECLOSURES BY race 2011

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Advantages of New Model:

- increase in volume of mortgage capital

- increase in availability of mortgages down the risk spectrum

Disadvantages of New Model:

- Disconnect between originators and risk-bearers: compensation driven by

volume, not performance

- Steering of borrowers to subprime loans

- Regulatory system based on old system

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Foreclosures BY RACE 2012

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The recent decline in the housing market was preceded by strong growth for over a decade. From the fourth quarter of 1995 to the fourth quarter of 2005, homeownership rates increased from 65.1 percent to 69.0 percent. In the 1990s and early 2000s, mortgage originations grew six-fold, from $459 billion in 1990 to $2.9 trillion in 2005. Over this same period, mortgage delinquency rates (around 4.5 percent) and foreclosure rates (around 1.2 percent) remained low between 2000 and 2005.

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Foreclosures FORECAST by STATE

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The recent decline in the housing market was preceded by strong growth for over a decade. From the fourth quarter of 1995 to the fourth quarter of 2005, homeownership rates increased from 65.1 percent to 69.0 percent. 1 In the 1990s and early 2000s, mortgage originations grew six-fold, from $459 billion in 1990 to $2.9 trillion in 2005. Over this same period, mortgage delinquency rates (around 4.5 percent) and foreclosure rates (around 1.2 percent) remained low between 2000 and 2005

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Growing Wealth In equality Housing US_JointCenter_0

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The rapid growth of household wealth in the United States has been accompanied by drastic growing inequality. This paper discusses both wealth and inequality growth, examines demographic factors behind the growth, and analyzes housing’s role in it, using the Survey of Consumer Finances data collected by the Federal Reserve Bank. While aggregate household net wealth grew from $25.9 trillion in 1995 to $50.1 trillion in 2004 (both in 2004 dollars), nearly 90 percent of the net gains occurred only among the top quartile of households in the wealth distribution.

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HARVARD study TAKE parts OF IT

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N/A

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Homeownership Gaps Among Low-Income And Minority

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Today, Americans are more likely than ever to own their own homes. The annual homeownership rate stands at an all-time high with 69 percent of American families sharing this experience. Homeownership not only provides families with the single largest investment of their lifetimes, but also strengthens communities, fosters civic pride and provides children with a stable living environment.

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IASP-Racial-Wealth-Gap-Brief-May2010

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New evidence reveals that the wealth gap between white and African American families has more than quadrupled over the course of a generation. Using economic data collected from the same set of families over 23 years,we find that the real wealth gains and losses of families over that time period demonstrate the stampede toward an escalating racial wealth gap.

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RACIAL loss Of WEALTH foreclosures DATA

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Wasted Wealth examines the ongoing impacts of the foreclosure crisis on the country and in particular on people of color. This study analyzes 2012 data to quantify wealth lost due to foreclosures for the country as a whole, for communities with proportionately higher populations of people of color, and for majority-communities of color.

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Racial Wealth Gap Brief

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Growing concerns about wealth inequality and the expanding racial wealth gap have in recent years become central to the debate over whether our nation is on a sustainable economic path. This report provides critical new information about what has fueled the racial wealth gap and points to policy approaches that will set our country in a more equitable and prosperous direction.

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The Racial Wealth Gap _ Demos TOP PRIORITY ONE

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US florida Map Poverty Mobility

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Is America still the “land of opportunity”? We show that this question does not have a clear answer because the economic outcomes of children from low income families vary substantially within the U.S. Some cities have rates of upward income mobility comparable to the most mobile countries in the world, while others have lower rates of mobility than any developed country.

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Wealth Gap Between Whites, Minorities Widens To Greatest Level In A Quarter

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Some people just really don't get it. We have inequality in this country plain and simple. It may not be intentional but many people contribute to it. By acknowledging there are problems that need to be fixed and adressed we can begin to get somewhere...but to deny they exist at all its so frustrating. Its hard to explain it to them. You have to look at problems like this from many angles.

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Wealth Gaps Rise to Record Highs Between Whites, Blacks, Hispanics _ Pew Soc

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The median wealth of white households is 20 times that of black households and 18 times that of Hispanic households, according to a Pew Research Center analysis of newly available government data from 2009.

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Wealth Gapreport Debt

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The median wealth of white households is 20 times that of black households and 18 times that of Hispanic households, according to a Pew Research Center analysis of newly available government data from 2009.

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Wealth Gap Report Wolff

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After rising sharply through 2007, the collapse of the stock market and the sudden collapse in home prices took an immense toll on the assets of the middle class. This report summarizes what happened and why

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