Reflections on the Past, Looking to the Future: The Fair Housing Act at 40 john a. powell Executive Director, Kirwan Institute for the Study of Race and Ethnicity & Williams Chair in Civil Rights & Civil Liberties, Moritz College of Law
Nationwide, nearly 55% of all high cost loans went to African American borrowers
Experts estimate that the loss in home equity to African American and Latino homeowners will exceed a quarter of trillion dollars
Direct asset loss (foreclosure) and loss in home value due to the geographic concentration of foreclosures in minority neighborhoods
Capital Market ‘Credit crunch’ Affected neighborhoods are being reduced to ‘ghost towns’ Reduced spending and retail flight Families lose their homes, wealth and safety Banks, police and courts saddled with foreclosures SUBPRIME LENDING: We didn’t care about the canary...
Predatory Lending and Race: Cleveland, OH Maps produced and adapted from Charles Bromley, SAGES Presidential Fellow, Case Western University