The US Great Recession: Exploring its association with Black neighborhood rise, decline and recovery

Urban Geography

Volumn 37, Issue 5, 2016, Pages 700-726

  Hyra, Derek ^a   Rugh, Jacob S ^b  

^a AMERICAN UNIVERSITY   (United States)

^b BRIGHAM YOUNG UNIVERSITY   (United States)

Author keywords

Foreclosures; Gentrification; Post recession recovery; Race; Subprime loans

Indexed keywords

AFRICAN AMERICAN; GENTRIFICATION; GREAT DEPRESSION; HOUSING MARKET; NEIGHBORHOOD; RACE; UNEMPLOYMENT; URBAN ECONOMY;

CHICAGO; DISTRICT OF COLUMBIA; ILLINOIS; NEW YORK [NEW YORK (STT)]; NEW YORK [UNITED STATES]; UNITED STATES; WASHINGTON [DISTRICT OF COLUMBIA];

EID: 84954097503     PISSN: 02723638     EISSN: None     Source Type: Journal    
DOI: 10.1080/02723638.2015.1103994     Document Type: Article

References (103)

1. M.B.Aalbers, Manuel B. (2011). Place, exclusion, and mortgage markets. Malden, MA: Wiley-Blackwell.
2. C.Abbott, Carl. (1999). Political terrain: Washington, D.C. from Tidewater town to global metropolis. Chapel Hill: The University of North Carolina Press.
3. K.B.Anacker, Katrin B., J.H.Carr, James H., & A.Pradhan, Archana. (2012). Analyzing foreclosures among high-income Black/African American and Hispanic/Latino borrowers in Prince George’s County, Maryland. Housing and Society, 39(1), 1–28.
4. E.Anenberg, Eliot, & E.Kung, Edward. (2012). Estimates of the size and source of price declines due to nearby foreclosures: Evidence from San Francisco. Washington, DC: Federal Reserve Board of Governors.
5. R.B.Avery, Robert B., K.P.Brevoort, Kenneth P., & G.B.Canner, Glen B. (2006). The 2005 HMDA data. Federal Reserve Bulletin, 8, 123–166.
6. R.B.Avery, Robert B., K.P.Brevoort, Kenneth P., & G.B.Canner, Glen B. (2007). The 2006 HMDA data. Federal Reserve Bulletin, 93, 73–109.
7. R.B.Avery, Robert B., & K.P.Brevoot, Kenneth P. (2011). The subprime crisis: Is the Government housing policy to blame? Finance and Economics Discussion Series. Washington, DC: Division of Research and Statistics, Board of Governors of the Federal Reserve System.
8. V.Been, Vicki, I.Ellen, Ingrid, & J.Madar, Josiah. (2009). The high-cost of segregation: Exploring racial disparities in high-cost lending. Fordham Urban Law Journal, 36, 361–384.
9. L.Bennett, Larry. (2010). The third city: Chicago and American urbanism. Chicago: The University of Chicago Press.
10. R.W.Bostic, Raphael W., K.C.Engel, Kathleen C., P.A.McCoy, Patricia A., A.Pennington-Cross, Anthony, & S.Wachter, Susan. (2008). State and local anti-predatory lending laws: The effect of legal enforcement mechanisms. Journal of Economics & Business, 60(1–2), 47–66.
11. M.R.Boyd, Michelle R. (2008). Jim Crow nostalgia: Reconstructing race in Bronzeville. Minneapolis, MN: University of Minnesota Press.
12. H.L.Bunce, Harold L., D.Gruenstein, Debbie, C.Herbert, Christopher, & R.M.Scheessele, Randall M. (2001). Subprime foreclosures: The smoking gun of predatory lending? Washington, DC: US Department of Housing and Urban Development.
13. P.S.Calem, Paul S., J.E.Hershaff, Jonathan E., & S.M.Wachter, Susan M. (2004). Neighborhood patterns of subprime lending: Evidence from disparate cities. Housing Policy Debate, 15(3), 603–622.
14. Center on Budget and Policy Priorities. (2013). Chart book: The legacy of the Great Recession. Washington, DC: Author.
15. K.B.Clark, Kenneth, B. (1965). Dark ghetto. Dilemmas of social power. New York: Harper and Row Publishers.
16. C.Coleman, Candace. (2012). Gentrification in the wake of the subprime mortgage crisis (Master’s thesis). Sanford School of Public Policy, Duke University, Durham, NC.
17. G.Collins, Glenn. (2010, September 7). Marcus Samuelsson opens in Harlem. New York Times.
18. M.Davidson, Mark. (2009). Displacement, space and dwelling: Placing gentrification debate. Ethics, Place & Environment, 12(2), 219–234.
19. L.Ding, Lei. (2013). Servicer and spatial heterogeneity of loss mitigation practices in soft housing markets. Housing Policy Debate, 23(3), 521–542.
20. S.C.Drake, St Clair, & H.R.Cayton, Horace R. (1945). Black metropolis: A study of Negro life in a northern city. Chicago: The University of Chicago Press.
21. P.Dreier, Peter, S.Bhatti, Saqib, R.Call, Rob, A.Schwartz, Alex, & G.Squires, Gregory. (2014). Underwater America: How the so-called housing “recovery” is bypassing many American communities. Berkeley, CA: Haas Institute for a Fair and Inclusive Society.
22. I.Ellen, Ingrid, J.Lacoe, Johanna, & C.A.Sharygin, Claudia A. (2013). Do foreclosures cause crime? Journal of Urban Economics, 74, 59–70.
23. K.C.Engel, Kathleen C., & P.A.McCoy, Patricia A. (2011). The subprime virus: Reckless credit, regulatory failure, and next steps. New York: Oxford University Press.
24. Federal Housing Finance Agency. (2013, July 23). FHFA house price index up 0.7 percent in May. FHFA News Release.
25. L.Freeman, Lance. (2006). There goes the hood. Philadelphia, PA: Temple University Press.
26. G.E.French, George E. (2009). A year in bank supervision: 2008 and a few of its lessons. Supervisory Insights, 6(1), 3–18.
27. K.Gerardi, Kristopher, E.Rosenblatt, Eric, P.S.Willen, Paul S., & V.W.Yao, Vincent W. (2012). Foreclosure externalities: Some new evidence (Working Paper No. 2012-11). Atlanta, GA: Federal Reserve Bank of Atlanta.
28. K.S.Gerardi, Kristopher S., C.L.Foote, Christopher L., & P.S.Willen, Paul S. (2011). Reasonable people did disagree: Optimism and pessimism about the U.S. market before the crash. In S.M.WachterSusan M. & M.M.SmithMarvin M. (Eds.), The American mortgage system: Crisis and reform (pp. 26–59). Philadelphia: University of Pennsylvania Press.
29. H.Gillette, Howard. (1995). Between justice & beauty: Race, planning, and the failure of urban policy in Washington, D.C. Philadelphia: University of Pennsylvania Press.
30. E.G.Goetz, Edward G. (2013). New Deal ruins: Race, economic justice, and public housing policy. Ithaca, NY: Cornell University Press.
31. K.F.Gotham, Kevin F. (2009). Creating liquidity out of spatial fixity: The secondary circuit of capital and the subprime mortgage crisis. International Journal of Urban and Regional Research, 33(2), 355–371.
32. E.M.Gramlich, Edward M. (2007). Subprime mortgages: America’s latest boom and bust. Washington, DC: The Urban Institute Press.
33. J.R.Grossman, James R. (1989). Land of hope: Chicago, Black southerners, and the great migration. Chicago: The University of Chicago Press.
34. V.Guerrieri, Veronica, D.Hartley, Daniel, & E.Hurst, Erik. (2010). Endogenous gentrification and housing price dynamics (Working Paper No. #16237). Cambridge, MA: National Bureau of Economic Research.
35. R.Halpern, Robert. (1995). Rebuilding the inner city: A history of neighborhood initiatives to address poverty in the United States. New York: Columbia University Press.
36. A.R.Hirsch, Arnold R. (1998). Making the second ghetto: Race & housing in Chicago, 1940-1960. Chicago: The University of Chicago Press.
37. J.Hwang, Jackelyn, & R.Sampson, Robert. (2014). Divergent pathways of gentrification: Racial inequality and the social order of renewal in Chicago neighborhoods. American Sociological Review, 79(4), 726–751.
38. D.S.Hyra, Derek S. (2008). The new urban renewal: The economic transformation of Harlem and Bronzeville. Chicago: The University of Chicago Press.
39. D.S.Hyra, Derek S. (2012). Conceptualizing the new urban renewal: Comparing the past to the present. Urban Affairs Review, 48(4), 498–527.
40. D.Hyra, Derek. (2015). The Back-to-the-city movement: Neighhourhood redevelopment and processes of political and cultural displacement. Urban Studies, 52(10), 1753–1773.
41. D.S.Hyra, Derek S., G.D.Squires, Gregory D., R.N.Renner, Robert N., & D.S.Kirk, David S. (2013). Metropolitan segregation and subprime lending. Housing Policy Debate, 23(1), 177–198.
42. D.Immergluck, Dan. (2009). Foreclosed: High-risk lending, deregulation, and the undermining of America’s mortgage market. Ithaca, NY: Cornell University Press.
43. D.Immergluck, Dan. (2010). Neighborhoods in the wake of the debacle: Intrametropolitan patterns of foreclosed properties. Urban Affairs Review, 46(1), 3–36.
44. D.Immergluck, Dan. (2013). Too little, too late, and too timid: The federal response to the foreclosure crisis at the five-year mark. Housing Policy Debate, 23(1), 199–232.
45. D.Immergluck, Dan, & G.Smith, Geoff. (2005). Measuring the effects of subprime lending on neighborhood foreclosures: Evidence from Chicago. Urban Affairs Review, 40(3), 362–389.
46. D.Immergluck, Dan, & G.Smith, Geoff. (2006a). The external costs of foreclosure: The impact of single-family mortgage foreclosures on property values. Housing Policy Debate, 17(1), 57–79.
47. D.Immergluck, Dan, & G.Smith, Geoff. (2006b). The impact of single-family mortgage foreclosures on neighborhood crime. Housing Studies, 21(6), 851–866.
48. Joint Economic Committee. (2007). The subprime lending crisis: The economic impact on wealth, property values and tax revenues, and how we got here. Washington, DC: Joint Economic Committee, US Congress.
49. B.Keeley, Brian, & P.Love, Patrick. (2010). From crisis to recovery: The causes, course and consequences of the Great Recession. Paris, France: OECD Insights.
50. D.Kirk, David & D.Hyra, Derek. (2012). Home foreclosures and community crime: Causal or spurious association? Social Science Quarterly, 93(3), 648–670.
51. M.Kuebler, Meghan, & J.S.Rugh, Jacob S. (2013). New evidence on racial and ethnic disparities in homeownership in the United States from 2001 to 2010. Social Science Research, 42(5), 1357–1374.
52. K.Lacy, Karyn. (2007). Blue-chip black: Race, class, and status in the new black middle class. Berkeley: University of California Press.
53. K.Lacy, Karyn. (2012). All’s fair? The foreclosure crisis and middle-class black (in)stability. American Behavioral Scientists, 56(11), 1565–1580.
54. A.J.Levitin, Adam J., & S.M.Wachter, Susan M. (2013). Why housing?. Housing Policy Debate, 23(1), 5–27.
55. Y.Li, Yanmei, & H.A.Morrow-Jones, Hazel A. (2010). The impact of residential mortgage foreclosure on neighborhood change and succession. Journal of Planning Education and Research, 30(1), 22–39.
56. E.Liebow, Elliot. (1967). Tally’s corner: A study of Negro streetcorner men. Boston, MA: Little, Brown and Company.
57. Z.Lin, Zhenguo, E.Rosenblatt, Eric, & V.W.Yao, Vincent W. (2009). Spillover effects of foreclosures on neighborhood property values. Journal of Real Estate Finance and Economics, 38(4), 387–407.
58. J.R.Logan, John R., & H.L.Molotch, Harvey L. (2007). Urban fortunes: The political economy of place. Berkeley: University of California Press.
59. M.Maeckelbergh, Marianne. (2012). Mobilizing to stay put: Housing struggles in New York City. International Journal of Urban and Regional Research, 36(4), 655–673.
60. O.Mahoney, Olivia. (2001). Douglas/Grand Boulevard: A Chicago neighborhood. Chicago: Arcadia Publishing.
61. D.S.Massey, Douglas S., & N.A.Denton, Nancy A. (1993). American apartheid: Segregation and the making of the underclass. Cambridge, MA: Harvard University Press.
62. G.Osofsky, Gilbert. (1996). Harlem: The making of a ghetto: Negro New York, 1890–1930. Chicago: Ivan R. Dee, Inc.
63. M.Pattillo, Mary. (2007). Black on the block. Chicago: The University of Chicago Press.
64. P.E.Peterson, Paul E. (1981). City Limits. Chicago: The University of Chicago Press.
65. R.G.Quercia, Roberto G., M.A.Stegman, Michael A., & W.R.Davis, Walter R. (2007). The impacts of predatory loan terms on subprime foreclosures: The special case of prepayment penalties and balloon payments. Housing Policy Debate, 18(2), 311–346.
66. D.Ranney, David. (2003). Global decisions/local collisions. Philadelphia, PA: Temple University Press.
67. E.Robinson, Eugene. (2010). Disintegration: The splintering of Black America. New York: Random House.
68. B.A.Ruble, Blair A. (2010). Washington’s U Street: A biography. Washington, DC/Baltimore, MD: Woodrow Wilson Center and Johns Hopkins University Presses.
69. J.S.Rugh, Jacob S., & D.S.Massey, Douglas S. (2010). Racial segregation and the American foreclosure crisis. American Sociological Review, 75(5), 629–651.
70. J.S.Rugh, Jacob S., Albright, Len, and Massey, Douglas S. (2015). Race, space, and cumulative disadvantage: A case study of the subprime lending collapse. Social Problems, 62(2), 186–218.
71. R.J.Sampson, Robert J. (2012). Great American city: Chicago and the enduring neighborhood effect. Chicago: The University of Chicago Press.
72. R.J.Sampson, Robert J., S.Raudenbush, Stephen, & F.Earls, Felton. (1997). Neighborhoods and violent crime: A multilevel study of collective efficacy. Science, 277(5328), 918–924.
73. S.Sassen, Saskia. (2012). Cities in the world economy. Thousand Oaks, CA: Sage Publications.
74. T.M.Shapiro, Thomas M. (2004). The hidden cost of being African American: How wealth perpetuates inequality. New York: Oxford University Press.
75. T.Shapiro, Thomas, T.Meschede, Tatjana, & S.Osoro, Sam (2013). The roots of the widening racial wealth gap: Explaining the Black-White economic divide. Waltham, MA: Institute on Assets & Social Policy.
76. A.Shin, Annys. (2013, July 21). Gentrification in overdrive on 14th Street. Washington Post.
77. W.Sites, William. (2003). Remaking New York: Primitive globalization and the politics of urban community. Minneapolis: University of Minnesota Press.
78. M.M.Smith, Marvin M., & S.Wachter, Susan M. (2011). Introduction. In S.M.WachterSusan M. & M.M.SmithMarvin M. (Eds.), The American mortgage system: Crisis and reform (pp. 1–4). Philadelphia: University of Pennsylvania Press.
79. A.H.Spear, Allan H. (1967). Black Chicago: The making of a Negro ghetto, 1890-1920. Chicago: The University of Chicago Press.
80. G.D.Squires, Gregory D. (2005). Predatory lending: Redlining in reverse. Shelterforce Online, #139, January/February.
81. G.D.Squires, Gregory D. (2008). Do subprime loans create subprime cities? Surging inequality and the rise of predatory lending. Washington, DC: Economic Policy Institute.
82. G.D.Squires, Gregory D., & D.S.Hyra, Derek S. (2010). Foreclosures – Yesterday, today and tomorrow. City & Community, 9(1), 50–60.
83. C.N.Stone, Clarence N. (1989). Regime politics: Governing Atlanta, 1946–1988. Lawrence: University Press of Kansas.
84. R.P.Taub, Richard P., D.G.Taylor, D. Garth, & J.D.Dunham, Jan D. (1987). Paths of neighborhood change: Race and crime in America. Chicago: The University of Chicago Press.
85. M.M.Taylor, Monique M. (2002). Harlem: Between heaven and hell. Minneapolis: University of Minnesota Press.
86. P.Taylor, Paul, R.Kochhar, Rakesh, R.Fry, Richard, G.Velasco, Gabriel, & S.Motel, Seth. (2011). Wealth gaps rise to record highs between Whites, Blacks and Hispanics. Washington, DC: Pew Research Center.
87. N.Timiraos, Nick. (2013, April 3). Fannie’s windfall blurs debate over its fate. Wall Street Journal.
88. US Bureau of Labor Statistics. (2014). Unemployment rate historical data. Washington, DC: Author.
89. US Census Bureau. (2014). Homeownership vacancy rates for the 75 largest metropolitan statistical areas: 2005–present. Washington, DC: Author.
90. US Conference of Mayors. (2007). US metro economies: The mortgage crisis. Washington, DC: Author.
91. US Department of Housing & Urban Development Neighborhood Stabilization Program, Round 1 [HUD NSP1]. (2008). Neighborhood Level Foreclosure Data [Machine readable data file]. Retrieved August 14, 2015, from http://www.huduser.gov/portal/datasets/nsp_foreclosure_data.html
92. US Department of Housing & Urban Development Neighborhood Stabilization Program, Round 3 [HUD NSP3]. (2010). Data Downloadable by State for Each Block Group [Machine readable data file]. Retrieved August 14, 2015, from http://www.huduser.gov/portal/datasets/nsp.html
93. L.J.Vale, Lawrence, J. (2013). Purging the poorest: Public housing and the design politics of twice-cleared communities. Chicago: The University of Chicago Press.
94. S.A.Venkatesh, Sudhir A. (2000). American project. Chicago: University of Chicago Press.
95. H.Wial, Howard. (2013). Metropolitan economies in the Great Recession and after. Paper presented at the Allied Social Science Associations/Labor and Employment Relations Association Annual Meeting, San Diego, CA.
96. D.Wessel, David. (2013, August 30). Best restaurants in Washington, DC’s 14th Street corridor. Wall Street Journal.
97. R.Whelan, Robbie. (2013, May 24). New homes hit record as builders cap supply. Wall Street Journal.
98. P.K.Williams, Paul K. (2002). Greater U Street. Charleston, SC: Arcadia Publishing.
99. R.Williams, Richard, R.Nesiba, Reynold, & E.D.McConnell, Eileen Diaz. (2005). The changing face of inequality in home mortgage lending. Social Problems, 52(2), 181–208.
100. W.J.Wilson, William J. (1996). When work disappears: The world of the new urban poor. New York: Knopf.
101. E.K.Wyly, Elvin K., M.Atia, Mona, & D.J.Hammel, Daniel J. (2004). Has mortgage capital found an inner-city spatial fix? Housing Policy Debate, 15(3), 623–685.
102. E.Wyly, Elvin, M.Moos, Markus, D.Hammel, Daniel, & E.Kabahizi, Emanuel. (2009). Cartographies of race and class: Mapping the class-monopoly rents of American subprime mortgage capital. International Journal of Urban and Regional Research, 33(2), 332–354.
103. R.Y.Yin, Robert Y. (2013). Case study research: Design and methods. Thousand Oaks, CA: Sage Publications.