抹去红线?纽约房主政策的全国性教训

Q1 Social Sciences
Naomi Zewde, Raz Edwards, Erinn Bacchus
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引用次数: 0

摘要

房屋净值在美国家庭资产负债表中的核心地位,以及抵押贷款市场中种族排斥的压迫性遗产,迫使有意设计反种族主义的住房政策,为黑人家庭创造持久的财富。在这项研究中,我们比较了新政时期提供给中等收入白人的住房抵押贷款条款,以及当代纽约市在以前的红线地区提供的政策。纽约市住房发展基金公司(Housing Development Fund Corporation)的政策适用于收入有限的家庭,但不限制首付款,也不限制申请联邦住房贷款的资格。使用挖掘的房源数据和2017年收入动态小组研究,我们发现超过80%的符合收入条件的城市黑人家庭缺乏购买中位数房源的财富,而白人家庭的这一比例为51%。此外,该政策的市场排除排除了获得目前已积累的大量股本的途径。住房业主面临着大规模违反住房法规和财产被没收的问题,这凸显了“有限股权”所有权的局限性,它会抵消财富创造。我们得出了两个主要教训。首先,反种族主义政策不能要求大量金融资产。其次,除了初始购买外,用于改善建筑或适应气候变化的融资计划还应根据家庭预算量身定制,并旨在为以前被排除在外的群体提供公平待遇。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Erasing the Red Line? National Lessons from a New York Homeowner Policy
The centrality of home equity to the balance sheets of American households, and the oppressive legacy of racial exclusion from mortgage markets, compel the design of intentionally anti-racist housing policy capable of building lasting wealth for Black families. In this study, we compare the home-mortgage terms offered to middle-income Whites in the New Deal era, with a contemporary New York City policy offered in formerly redlined districts. The city's Housing Development Fund Corporation policy is for limited-income households but does not limit down payments nor qualify for federal home loans. Using mined listing data and the 2017 Panel Study of Income Dynamics, we find more than 80% of income-eligible urban Black households lack the wealth to purchase the median listing, versus 51% of Whites. Moreover, the policy's market exclusions preclude access to what is now substantial accumulated equity. Unit owners face wide-scale housing-code violations and property seizure, highlighting the limitations of “limited equity” ownership, which counteracts wealth creation. We draw two primary lessons. First, anti-racist policy cannot demand substantial financial assets. Second, financing schemes for building improvement or climate-responsive adaptation, in addition to initial purchase, should be well-tailored to family budgets and designed to deliver equity to the formerly excluded.
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来源期刊
Review of Black Political Economy
Review of Black Political Economy Social Sciences-Cultural Studies
CiteScore
2.80
自引率
0.00%
发文量
22
期刊介绍: The Review of Black Political Economy examines issues related to the economic status of African-American and Third World peoples. It identifies and analyzes policy prescriptions designed to reduce racial economic inequality. The journal is devoted to appraising public and private policies for their ability to advance economic opportunities without regard to their theoretical or ideological origins. A publication of the National Economic Association and the Southern Center for Studies in Public Policy of Clark College.
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