Metropolitan Chicago’s Geography of Inequality

2017 ◽  
Author(s):  
Costas Spirou ◽  
Larry Bennett
Keyword(s):  
Great Recession ◽  
Central City ◽  
Physical Development ◽  
Local Communities ◽  
Neighborhood Structure ◽  
The Great Recession ◽  
Foreclosure Crisis ◽  
Communities Of Color ◽  
The City ◽  
Municipal Development

The contemporary Chicago region is a space of striking racial and social class segregation. Even as the City of Chicago’s population has stabilized over recent decades, metropolitan Chicago has expanded geographically and in terms of population. At present, there is a striking pattern of exurban municipal development aimed at capturing prosperous residents and buttressing local tax bases. Nor has Chicago’s physical development occurred independent of broader trends in the economy and public policy. The City of Chicago’s neighborhood structure has been profoundly affected by the demolition and mixed-income redevelopment of former public housing neighborhoods, central city gentrification, and following the Great Recession of 2008, the foreclosure crisis that particularly struck local communities of color. Contemporary Chicago’s geography of inequality is thus a palimpsest of recently generated neoliberal processes overlaying an older geography forged by industrial era urbanization and suburbanization.

scholarly journals Beyond the Great Recession: Was the Foreclosure Crisis Harmful to the Health of Individuals With Diabetes?

2017 ◽  
Vol 185 (6) ◽  
pp. 429-435 ◽  
Author(s):  
Janelle Downing ◽  
Barbara Laraia ◽  
Hector Rodriguez ◽  
William H. Dow ◽  
Nancy Adler ◽  
...  
Keyword(s):  
Great Recession ◽  
The Great Recession ◽  
Foreclosure Crisis

scholarly journals The Efficacy of Allocating Housing Growth in the Los Angeles Region (2006–2014)

Urban Science ◽  
2020 ◽  
Vol 4 (3) ◽  
pp. 43
Author(s):  
Darrel Ramsey-Musolf
Keyword(s):  
Los Angeles ◽  
Great Recession ◽  
Housing Prices ◽  
Housing Affordability ◽  
The Great Recession ◽  
Coastal Cities ◽  
Housing Growth ◽  
Housing Needs ◽  
Home Values ◽  
The City

California is known for home values that eclipse U.S. housing prices. To increase housing inventory, California has implemented a regional housing needs allocation (RHNA) to transmit shares of housing growth to cities. However, no study has established RHNA’s efficacy. After examining the 4th RHNA cycle (i.e., 2006–2014) for 185 Los Angeles region cities, this study determined that RHNA directed housing growth to the city of Los Angeles and the region’s outlying cities as opposed to increasing density in the central and coastal cities. Second, RHNA directed 62% of housing growth to the region’s unaffordable cities. Third, the sample suffered a 34% shortfall in housing growth due to the Great Recession but garnered an average achievement of approximately 93% due to RHNA’s transmission of minimal housing growth shares. Lastly, RHNA maintained statistically significant associations with increased housing inventory, housing affordability, and housing growth rates, indicating that RHNA may influence housing development.

Foreclosure Stories: Neoliberal Suffering in the Great Recession

2012 ◽  
Vol 47 (1) ◽  
pp. 49-68 ◽  
Author(s):  
ANDREW LAWSON
Keyword(s):  
Social Relations ◽  
Great Recession ◽  
Financial Management ◽  
Credit Scoring ◽  
Mortgage Lending ◽  
Human Beings ◽  
Subprime Mortgage ◽  
The Great Recession ◽  
Foreclosure Crisis ◽  
Crisis Of Representation

This article examines how the foreclosure crisis has been represented in a range of narrative genres: the reportage of Paul Reyes's Exiles in Eden: Life among the Ruins of Florida's Great Recession (2010), Michael Moore's documentary film Capitalism: A Love Story (2009), and Paul Auster's novel Sunset Park (2010).These narratives attempt to contextualize the human beings caught in the center of the subprime mortgage storm, but in the process each of them runs up against an opacity or obscurity, a crisis of representation. The article argues that underlying the financial crisis is an inability to recognize and comprehend deeply embedded structures of inequality, a failure common to both the financial system and the wider culture. Drawing on recent accounts of the techniques of credit scoring and mortgage securitization in the disciplines of business history, accounting, financial management, and human geography, the article concludes that subprime mortgage lending involved social relations of supremacy and subordination, as well as representational strategies which identified individuals solely in terms of credit risk, while failing to grasp the conditions of poverty and disadvantage which constituted them as a class.

Combustible Hopes on the National Stage

2017 ◽  
Author(s):  
Judith Hamera
Keyword(s):  
United States ◽  
New York ◽  
Great Recession ◽  
Work Ethic ◽  
The United States ◽  
Economic Recovery ◽  
The Great Recession ◽  
History Of ◽  
The City

This chapter argues for Detroit as an image and an actual place that spatializes and racializes the affective fallout of deindustrialization using three plays whose 2013 New York runs coincided with both the city’s impending bankruptcy and the United States’ anemic recovery from the Great Recession: Detroit by Lisa D’Amour, Detroit’67 by Dominique Morisseau, and Motown the Musical by Berry Gordy. Each play uses Detroit to explore the interpersonal consequences of opportunities and crises in racialized capitalism. Each offers audiences intimate visions of the Fordist bargain in its seeming heyday, particularly compelling in a period of lackluster economic recovery. In this chapter I introduce the formulations “re-siting” and “re-citing” to analyze the ways elements of Detroit’s incendiary history of interracial confrontations are redeployed to support images of a capitalist work ethic transcending or succumbing to racist violence, and to link the city to a seemingly race-neutral contemporary precarity.

Racialized Recovery: Postforeclosure Pathways in Boston Neighborhoods

2019 ◽  
Vol 18 (4) ◽  
pp. 1287-1313 ◽  
Author(s):  
Jackelyn Hwang
Keyword(s):  
Great Recession ◽  
Race And Ethnicity ◽  
Well Being ◽  
Housing Crisis ◽  
Predominantly Black ◽  
Black Neighborhoods ◽  
The Great Recession ◽  
Foreclosure Crisis ◽  
Corporate Investors ◽  
The Stability

Following the Great Recession, homeownership rates declined precipitously, raising concerns for the stability and well–being of neighborhoods. While many studies document shifts in household constraints, this article draws from foreclosure records from 2006 to 2011, subsequent transactions, tax exemption filings, and maintenance data in Boston, Massachusetts to show how the foreclosure crisis altered the landscape of ownership and unfolded differentially across hard–hit neighborhoods. Results from logistic regression analyses show that corporate investors were more likely to purchase foreclosures in predominantly black hard–hit neighborhoods, while owner–occupants were more likely to purchase foreclosures in hard–hit mixed–ethnoracial neighborhoods with substantial shares of non–Hispanic/Latinx whites. Relative to other foreclosure buyers, corporations were more likely to resell previously foreclosed properties to other investors and have reported maintenance issues against them. The findings have implications for further disadvantages for hard–hit black neighborhoods and highlight how the housing crisis exacerbated neighborhood inequality by race and ethnicity.

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