메뉴 건너뛰기




Volumn 20, Issue 4, 2010, Pages 707-742

Foreclosing on the american dream? the financial consequences of low-income homeownership

Author keywords

Assets; Black; Defaults; Homeownership; Indicators; Latino; Low income; Wealth

Indexed keywords


EID: 79957667894     PISSN: 10511482     EISSN: 2152050X     Source Type: Journal    
DOI: 10.1080/10511482.2010.506194     Document Type: Article
Times cited : (16)

References (88)
  • 4
    • 0242516459 scopus 로고    scopus 로고
    • Asset appreciation, timing of purchases and sales, and returns to low-income homeownership
    • ed. Nicolas P. Retsinas, and Eric S. Belsky, Washington, DC: Brookings Institution Press
    • Belsky, Eric S., and Mark Duda. 2002. Asset appreciation, timing of purchases and sales, and returns to low-income homeownership. In Low income homeownership: examining the unexamined goal, ed. Nicolas P. Retsinas, and Eric S. Belsky, 208-38. Washington, DC: Brookings Institution Press.
    • (2002) Low Income Homeownership: Examining the Unexamined Goal , pp. 208-238
    • Belsky, E.S.1    Duda, M.2
  • 5
    • 79957666337 scopus 로고    scopus 로고
    • New paths to building assets for the poor
    • ed. Nicolas P. Retsinas, and Eric S. Belsky, Washington, DC: Brookings Institution Press
    • Belsky, Eric S., and Nicholas P. Retsinas. 2005. New paths to building assets for the poor. In Building assets, building credit: creating wealth in low-income communities, ed. Nicolas P. Retsinas, and Eric S. Belsky, 1-9. Washington, DC: Brookings Institution Press.
    • (2005) Building Assets, Building Credit: Creating Wealth in Low-income Communities , pp. 1-9
    • Belsky, E.S.1    Retsinas, N.P.2
  • 7
    • 58149114661 scopus 로고    scopus 로고
    • Who withdraws housing equity and why?
    • Benito, Andrew. 2007. Who withdraws housing equity and why? Economica 76: 51-70.
    • (2007) Economica , vol.76 , pp. 51-70
    • Benito, A.1
  • 9
    • 33644600204 scopus 로고    scopus 로고
    • Housing and wealth accumulation: Intergenerational impacts
    • ed. Nicolas P. Retsinas, and Eric S. Belsky, Washington, DC: Brookings Institution Press
    • Boehm, Thomas P., and Alan M. Schlottmann. 2002. Housing and wealth accumulation: Intergenerational impacts. In Low income homeownership: examining the unexamined goal, ed. Nicolas P. Retsinas, and Eric S. Belsky, 407-26. Washington, DC: Brookings Institution Press.
    • (2002) Low Income Homeownership: Examining the Unexamined Goal , pp. 407-426
    • Boehm, T.P.1    Schlottmann, A.M.2
  • 10
    • 0742269367 scopus 로고    scopus 로고
    • The dynamics of race, income, and homeownership
    • Boehm, Thomas P., and Alan M. Schlottmann. 2004a. The dynamics of race, income, and homeownership. Journal of Urban Economics 55: 113-30.
    • (2004) Journal of Urban Economics , vol.55 , pp. 113-130
    • Boehm, T.P.1    Schlottmann, A.M.2
  • 13
    • 44949225047 scopus 로고    scopus 로고
    • Mortgages, risk, and homeownership among low- and moderate-income families
    • Bostic, Raphael W., and Kwan Ok Lee. 2008. Mortgages, risk, and homeownership among low- and moderate-income families. American Economic Review: Papers and Proceedings 98: 310-4.
    • (2008) American Economic Review: Papers and Proceedings , vol.98 , pp. 310-314
    • Bostic, R.W.1    Lee, K.O.2
  • 16
    • 79957638368 scopus 로고    scopus 로고
    • Washington, DC: US Department of Housing and Urban Development, Office of Policy Development and Research
    • Carr, Karman, Christopher Herbert, Ken Lam, and Yusuf Makhkamov. 2008. Rates of foreclosure in HOME and ADDI programs. Washington, DC: US Department of Housing and Urban Development, Office of Policy Development and Research.
    • (2008) Rates of Foreclosure in HOME and ADDI Programs
    • Carr, K.1    Herbert, C.2    Lam, K.3    Makhkamov, Y.4
  • 17
    • 30344466998 scopus 로고    scopus 로고
    • Can lower-income households increase savings with financial-management education?
    • 18
    • Caskey, J. 2001. Can lower-income households increase savings with financial-management education? Cascade 46: 1-4. 10-11, 18.
    • (2001) Cascade , vol.46 , Issue.1-4 , pp. 10-11
    • Caskey, J.1
  • 19
    • 66349128533 scopus 로고    scopus 로고
    • Center for Responsible Lending, Issue paper no. 14., (accessed April 28, 2009)
    • Center for Responsible Lending. 2007. Subprime lending: a net drain on homeownership. Issue paper no. 14. http://www.responsiblelending.org/pdfs/Net-Drain-in-Home-Ownership.pdf (accessed April 28, 2009).
    • (2007) Subprime Lending: A Net Drain on Homeownership
  • 21
  • 22
    • 33644607774 scopus 로고    scopus 로고
    • Supply-side constraints on low-income homeownership
    • ed. Nicolas P. Retsinas and Eric S. Belsky, Washington, DC: Brookings Institution Press
    • Collins, J. Michael, David Crowe, and Michael Carliner. 2002. Supply-side constraints on low-income homeownership. In Low income homeownership: examining the unexamined goal, ed. Nicolas P. Retsinas and Eric S. Belsky, 175-200. Washington, DC: Brookings Institution Press.
    • (2002) Low Income Homeownership: Examining the Unexamined Goal , pp. 175-200
    • Collins, J.M.1    Crowe, D.2    Carliner, M.3
  • 26
    • 0001420605 scopus 로고    scopus 로고
    • Mortgage default and low downpayment loans: The costs of public subsidy
    • Deng, Yongheng, John Quigley, and John Van Order. 1996. Mortgage default and low downpayment loans: the costs of public subsidy. Regional Science and Urban Economics 26: 263-85.
    • (1996) Regional Science and Urban Economics , vol.26 , pp. 263-285
    • Deng, Y.1    Quigley, J.2    Order, J.V.3
  • 28
    • 75749100638 scopus 로고    scopus 로고
    • Changing household financial opportunities and economic security
    • Dynan, Karen E. 2009. Changing household financial opportunities and economic security. Journal of Economic Perspectives 23: 49-68.
    • (2009) Journal of Economic Perspectives , vol.23 , pp. 49-68
    • Dynan, K.E.1
  • 30
    • 57749127814 scopus 로고    scopus 로고
    • Owning a home: New opportunities and challenges for low-income women
    • Fogel, Sondra J., Marc T. Smith, and Anne R. Williamson. 2008. Owning a home: new opportunities and challenges for low-income women. Journal of Poverty 12: 102-23.
    • (2008) Journal of Poverty , vol.12 , pp. 102-123
    • Fogel, S.J.1    Smith, M.T.2    Williamson, A.R.3
  • 32
    • 3042818124 scopus 로고    scopus 로고
    • Unequal returns to housing investment? A study of real housing appreciation among Black, White and Hispanic households
    • Flippen, Chenoa. 2004. Unequal returns to housing investment? A study of real housing appreciation among Black, White and Hispanic households. Social Forces 82: 1523-51.
    • (2004) Social Forces , vol.82 , pp. 1523-1551
    • Flippen, C.1
  • 33
    • 79957631178 scopus 로고    scopus 로고
    • Scholarship on U.S. housing, planning, and policy: The evolving topography since 1968
    • Galster, George. 2008. Scholarship on U.S. housing, planning, and policy: the evolving topography since 1968. Journal of the American Planning Association 74: 1-12.
    • (2008) Journal of the American Planning Association , vol.74 , pp. 1-12
    • Galster, G.1
  • 35
    • 77953551062 scopus 로고    scopus 로고
    • Low-income homeownership as an assetbuilding tool: What can we tell policymakers? In
    • ed. Margery A. Turner, Howard Wial, and Hal Wolman, Washington, DC: Brookings Institution Press
    • Galster, George C., and Anna M. Santiago. 2008. Low-income homeownership as an assetbuilding tool: what can we tell policymakers? In. In Urban and regional policy and its effects, ed. Margery A. Turner, Howard Wial, and Hal Wolman, 60-108. Washington, DC: Brookings Institution Press.
    • (2008) Urban and Regional Policy and Its Effects , pp. 60-108
    • Galster, G.C.1    Santiago, A.M.2
  • 37
    • 56849087563 scopus 로고    scopus 로고
    • Imperfect information and the housing finance crisis: A descriptive overview
    • Green, Richard K. 2008. Imperfect information and the housing finance crisis: a descriptive overview. Journal of Housing Economics 17: 262-71.
    • (2008) Journal of Housing Economics , vol.17 , pp. 262-271
    • Green, R.K.1
  • 38
    • 66349137389 scopus 로고    scopus 로고
    • Fostering low-income homeownership through Individual Development Accounts: A longitudinal, randomized experiment
    • Grinstein-Weiss, Michael, Jung-Sook Lee, Johanna Greeson, Chan-Keun Han, Yeong Yeo, and Kate Irish. 2008. Fostering low-income homeownership through Individual Development Accounts: a longitudinal, randomized experiment. Housing Policy Debate 19: 711-40.
    • (2008) Housing Policy Debate , vol.19 , pp. 711-740
    • Grinstein-Weiss, M.1    Lee, J.-S.2    Greeson, J.3    Han, C.-K.4    Yeo, Y.5    Irish, K.6
  • 45
    • 79957632218 scopus 로고    scopus 로고
    • McLean, VA: Freddie Mac
    • McLean, VA: Freddie Mac. www.freddiemac.com/corporate/reports/pdf/homebuyers_study.pdf.
  • 46
    • 65449187960 scopus 로고    scopus 로고
    • From the subprime to the exotic: Expanded mortgage market risk and implications for metropolitan areas and neighborhoods
    • Immergluck, Daniel. 2008. From the subprime to the exotic: expanded mortgage market risk and implications for metropolitan areas and neighborhoods. Journal of the American Planning Association 74: 59-76.
    • (2008) Journal of the American Planning Association , vol.74 , pp. 59-76
    • Immergluck, D.1
  • 57
    • 33750470382 scopus 로고    scopus 로고
    • Foreclosure filings and sheriff's sales experienced by low-income first-Time home buyers
    • Newberger, Harriet. 2006. Foreclosure filings and sheriff's sales experienced by low-income first-Time home buyers. Housing Policy Debate 17: 341-87.
    • (2006) Housing Policy Debate , vol.17 , pp. 341-387
    • Newberger, H.1
  • 58
    • 77951890873 scopus 로고    scopus 로고
    • Creating wealth in low-income communities: Refinance and the accumulation of home equity wealth
    • ed. Nicolas P. Retsinas and Eric S. Belsky, Washington, DC: Brookings Institution Press
    • Nothaft, Frank E., and Yan Chang. 2005. Creating wealth in low-income communities: refinance and the accumulation of home equity wealth. In Building assets, building credit: creating wealth in low-income communities, ed. Nicolas P. Retsinas and Eric S. Belsky, 71-102. Washington, DC: Brookings Institution Press.
    • (2005) Building Assets, Building Credit: Creating Wealth in Low-income Communities , pp. 71-102
    • Nothaft, F.E.1    Chang, Y.2
  • 59
    • 30644467191 scopus 로고    scopus 로고
    • Net worth and asset ownership of households: 1998 and 2000
    • Washington, DC: US Department of Commerce, Bureau of the Census
    • Orzechowski, Shawna, and Peter Sepielli. 2003. Net worth and asset ownership of households: 1998 and 2000. In Current Population Reports, 70-88. Washington, DC: US Department of Commerce, Bureau of the Census.
    • (2003) Current Population Reports , pp. 70-88
    • Orzechowski, S.1    Sepielli, P.2
  • 62
    • 49049084642 scopus 로고    scopus 로고
    • Does homeownership counseling affect the prepayment and default behavior of affordable mortgage borrowers?
    • Quercia, Roberto, and Jonathan Spader. 2008. Does homeownership counseling affect the prepayment and default behavior of affordable mortgage borrowers? Journal of Policy Analysis and Management 27: 304-25.
    • (2008) Journal of Policy Analysis and Management , vol.27 , pp. 304-325
    • Quercia, R.1    Spader, J.2
  • 63
    • 0000493318 scopus 로고
    • Residential mortgage default: A review of the literature
    • Quercia, Roberto, and Michael Stegman. 1992. Residential mortgage default: a review of the literature. Journal of Housing Research 3: 341-79.
    • (1992) Journal of Housing Research , vol.3 , pp. 341-379
    • Quercia, R.1    Stegman, M.2
  • 64
    • 34247843650 scopus 로고    scopus 로고
    • Performance of community reinvestment loans: Implications for secondary market purchases
    • ed. Nicolas P. Retsinas, and Eric S. Belsky, Washington, DC: Brookings Institution Press
    • Quercia, Roberto, Michael Stegman, Walter Davis, and Eric Stein. 2002. Performance of community reinvestment loans: implications for secondary market purchases. In Low income homeownership: examining the unexamined goal, ed. Nicolas P. Retsinas, and Eric S. Belsky, 348-74. Washington, DC: Brookings Institution Press.
    • (2002) Low Income Homeownership: Examining the Unexamined Goal , pp. 348-374
    • Quercia, R.1    Stegman, M.2    Davis, W.3    Stein, E.4
  • 65
    • 0345292125 scopus 로고    scopus 로고
    • Homeownership counseling performance: How can it be measured?
    • Quercia, Roberto, and Susan Wachter. 1996. Homeownership counseling performance: how can it be measured? Housing Policy Debate 7: 175-200.
    • (1996) Housing Policy Debate , vol.7 , pp. 175-200
    • Quercia, R.1    Wachter, S.2
  • 67
    • 79957668039 scopus 로고    scopus 로고
    • The untold costs of subprime lending: Examining the links among higher-priced lending, foreclosures, and race in California
    • November 5, Washington, DC
    • Reid, Caroline Katz. 2009. The untold costs of subprime lending: examining the links among higher-priced lending, foreclosures, and race in California. Paper presented at the Association for Policy Analysis and Management conference, November 5, Washington, DC.
    • (2009) Paper Presented at the Association for Policy Analysis and Management Conference
    • Reid, C.K.1
  • 72
    • 68449096752 scopus 로고    scopus 로고
    • Deflating the dream: Radical risk and the neoliberalization of homeownership
    • Saegert, Susan, Desiree Fields, and Kimberley Libman. 2009. Deflating the dream: Radical risk and the neoliberalization of homeownership. Journal of Urban Affairs 31: 297-317.
    • (2009) Journal of Urban Affairs , vol.31 , pp. 297-317
    • Saegert, S.1    Fields, D.2    Libman, K.3
  • 73
    • 4444363368 scopus 로고    scopus 로고
    • Moving from public housing to home ownership: Perceived barriers to program participation and success
    • Santiago, Anna M., and George C. Galster. 2004. Moving from public housing to home ownership: perceived barriers to program participation and success. Journal of Urban Affairs 24: 297-324.
    • (2004) Journal of Urban Affairs , vol.24 , pp. 297-324
    • Santiago, A.M.1    Galster, G.C.2
  • 74
    • 77953591544 scopus 로고    scopus 로고
    • Low income homeownership: Does it necessarily mean sacrificing neighborhood quality to buy a home?
    • Santiago, Anna M., George C. Galster, Angela A. Kaiser, Ana H. Santiago-San Roman, Rebecca A. Grace, and Andrew T.W. Linn. 2010. Low income homeownership: Does it necessarily mean sacrificing neighborhood quality to buy a home? Journal of Urban Affairs 32: 171-98.
    • (2010) Journal of Urban Affairs , vol.32 , pp. 171-198
    • Santiago, A.M.1    Galster, G.C.2    Kaiser, A.A.3    Roman, A.H.4    Grace, R.A.5    Linn, A.T.W.6
  • 75
    • 79957664228 scopus 로고    scopus 로고
    • Be it ever so humble, there's no place like home: The experiences of recent, low-income, minority homebuyers
    • Forthcoming, ed. Rob Silverman. Leiden NL and Boston MA: Brill Publishers, Studies in Critical Social Science
    • Santiago, Anna M., George C. Galster, Cristina M. Tucker, Ana H. San Roman, and Angela A. Kaiser. Forthcoming. Be it ever so humble, there's no place like home: The experiences of recent, low-income, minority homebuyers. In Fair and Affordable Housing Policy in the United States, ed. Rob Silverman. Leiden NL and Boston MA: Brill Publishers, Studies in Critical Social Science.
    • Fair and Affordable Housing Policy in the United States
    • Santiago, A.M.1    Galster, G.C.2    Tucker, C.M.3    Roman, A.H.S.4    Kaiser, A.A.5
  • 78
    • 79957648291 scopus 로고    scopus 로고
    • Denver CO: City and County of Denver, Office of Economic Development
    • Denver CO: City and County of Denver, Office of Economic Development.
  • 79
    • 33644606396 scopus 로고    scopus 로고
    • Low-income homeownership: American dream or delusion?
    • Shlay, Anne B. 2006. Low-income homeownership: American dream or delusion? Urban Studies 43: 511-31.
    • (2006) Urban Studies , vol.43 , pp. 511-531
    • Shlay, A.B.1
  • 80
    • 70350048306 scopus 로고    scopus 로고
    • The wealth-creating potential of homeownership: A preliminary assessment of price appreciation among lowincome home buyers
    • ed. William M. Rohe and Harry L. Watson, Ithaca, New York: Cornell University Press
    • Stegman, Michael A., Roberto G. Quercia, and Walter Davis. 2007. The wealth-creating potential of homeownership: a preliminary assessment of price appreciation among lowincome home buyers. In Chasing the American dream: new perspectives on affordable homeownership, ed. William M. Rohe and Harry L. Watson, 271-92. Ithaca, New York: Cornell University Press.
    • (2007) Chasing the American Dream: New Perspectives on Affordable Homeownership , pp. 271-292
    • Stegman, M.A.1    Quercia, R.G.2    Davis, W.3
  • 81
    • 0039125894 scopus 로고
    • Designing better homeownership assistance programs using the Panel Study of Income Dynamics (PSID): An exploratory analysis
    • Stegman, Michael A., Roberto G. Quercia, George W. McCarthy, Michael Foster, and William M. Rohe. 1991. Designing better homeownership assistance programs using the Panel Study of Income Dynamics (PSID): an exploratory analysis. Journal of Housing Research 2: 39-85.
    • (1991) Journal of Housing Research , vol.2 , pp. 39-85
    • Stegman, M.A.1    Quercia, R.G.2    McCarthy, G.W.3    Foster, M.4    Rohe, W.M.5
  • 82
    • 59749086246 scopus 로고    scopus 로고
    • Accumulation and dispossession: Lifting the veil on the subprime mortgage crisis
    • Strauss, Kendra. 2009. Accumulation and dispossession: lifting the veil on the subprime mortgage crisis. Antipode 41: 10-4.
    • (2009) Antipode , vol.41 , pp. 10-14
    • Strauss, K.1
  • 84
    • 84901095763 scopus 로고    scopus 로고
    • Mortgage interest rates and refinancing: Racial and ethnic patterns. Paper presented at the 30th Annual Midyear Meetings
    • Paper presented at the 30th Annual Midyear Meetings, American Real Estate and Urban Economics Association, May, Washington, DC
    • Susin, Scott. 2003. Mortgage interest rates and refinancing: racial and ethnic patterns
    • (2003) American Real Estate and Urban Economics Association
    • Susin, S.1
  • 85
    • 0242449020 scopus 로고    scopus 로고
    • Price dynamics of owner-occupied housing in the Baltimore-Washington Area: Does structure type matter?
    • Tong, Zhong Yi, and John Glascock. 2000. Price dynamics of owner-occupied housing in the Baltimore-Washington Area: does structure type matter? Journal of Housing Research 11: 29-66.
    • (2000) Journal of Housing Research , vol.11 , pp. 29-66
    • Tong, Z.Y.1    Glascock, J.2
  • 86
    • 49049086749 scopus 로고    scopus 로고
    • Performance of low-income and minority mortgages
    • ed. Nicolas P. Retsinas, and Eric S. Belsky, Washington, DC: Brookings Institution Press
    • Van Order Robert, and Peter Zorn. 2002. Performance of low-income and minority mortgages. In Low income homeownership: examining the unexamined goal, ed. Nicolas P. Retsinas, and Eric S. Belsky, 322-47. Washington, DC: Brookings Institution Press.
    • (2002) Low Income Homeownership: Examining the Unexamined Goal , pp. 322-347
    • Robert, V.O.1    Zorn, P.2
  • 87
    • 55349147804 scopus 로고    scopus 로고
    • Decision-making and the limits of disclosure: The problem of predatory lending: Price
    • Willis, Lauren E. 2006. Decision-making and the limits of disclosure: the problem of predatory lending: Price. Maryland Law Review 65: 707-840.
    • (2006) Maryland Law Review , vol.65 , pp. 707-840
    • Willis, L.E.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.