Race and uneven recovery: neighborhood home value trajectories in Atlanta before and after the housing crisis

Raymond, Elora; Wang, Kyungsoon; Immergluck, Dan

doi:10.1080/02673037.2015.1080821

Cited by 42 publications

(28 citation statements)

References 16 publications

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“…Vacancy and homeownership rates, year structure built, race and MHI data were collected from the 2012–16 ACS at the block‐group level . Vacancy rates were included in the OLS model because one study found them to significantly influence pre‐recession and post‐recession home price changes (Raymond et al ., ). Homeownership rates were added to capture the association between the concentration of owner‐occupied housing units and home price (Wang and Immergluck, ).…”

Section: Methodsmentioning

confidence: 97%

“…As Retsinas and Belsky () remind us, the time and place of purchase and sale are crucial for determining how financially beneficial homeownership can be. While home prices did not drop as low in white neighborhoods as in Black neighborhoods, they also began their recovery sooner (Raymond et al ., ). Hence, we might expect home price change estimates from 2012 to 2017 to underestimate appreciation in white neighborhoods relative to Black neighborhoods.…”

Section: Addressing the Housing Wealth Gapmentioning

confidence: 97%

“…Second, although Raymond et al () and Raymond () include median household income (MHI) as an explanatory variable, these studies do not jointly consider race and income. That is, their models assume that a zip code's race and income characteristics operate independently rather than contingently.…”

Section: Addressing the Housing Wealth Gapmentioning

confidence: 99%

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The Limits of Homeownership: Racial Capitalism, Black Wealth, and the Appreciation Gap in Atlanta

Markley¹,

Hafley²,

Allums³

et al. 2020

Int J Urban Regional Res

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In the wake of the 2007–08 housing crash, the Black–white wealth gap reached a staggering 20 to 1. Since then, a growing chorus of influential voices has proposed measures to increase the Black homeownership rate as a means to narrow the gap. Others, however, have argued that the uneven racial geography of home price appreciation necessarily restricts the degree to which Black households, in the aggregate, can build wealth via homeownership. We aim to contribute to these debates by theorizing a racial appreciation gap as a central feature of urban housing markets under racial capitalism, and analyzing how neighborhood racial and income characteristics have structured home price appreciation from before the height of the housing boom (2000–03) to its post‐crisis recovery (2014–16). Focusing on the two counties that encompass Atlanta, Georgia, USA—an area famous for Black prosperity—we find that a neighborhood's racial composition has a more salient impact on home price change than its income. Results indicate that when a place is marked as Black, this may itself inhibit home price appreciation, suggesting that an enduring racial appreciation gap may limit the potential for Black homeownership to substantively narrow the racial wealth gap.

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Section: Methodsmentioning

confidence: 97%

Section: Addressing the Housing Wealth Gapmentioning

confidence: 97%

See 1 more Smart Citation

The Limits of Homeownership: Racial Capitalism, Black Wealth, and the Appreciation Gap in Atlanta

Markley¹,

Hafley²,

Allums³

et al. 2020

Int J Urban Regional Res

View full text Add to dashboard Cite

show abstract

“…Mellnick et al (2016) found that zip codes with higher proportions of Black residents were two times more likely than zip codes with high proportions of White residents to have homes worth less in 2015 than in 2004. Looking at recovery in Atlanta, Raymond et al (2016) note that low-poverty Black neighborhoods only experienced moderate recovery, if any at all, while White and middle-or upperincome neighborhoods recovered in home value, and home prices were less volatile after the crisis. In California, foreclosed vacant properties in Black and Latino neighborhoods were more likely to remain vacant for more months than properties in Asian neighborhoods in Los Angeles County and the Inland Empire (Molina 2016; see also Li and Walter [2013]).…”

Section: How Neighborhood Racial Demographics Link To Foreclosure Riskmentioning

confidence: 99%

Impacts of Multiscale Racial Concentration on Neighborhood Foreclosure Risk in Immigrant Gateway Metropolitan Areas

Lee

Greenlee

2020

City & Community

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Scholars define emerging gateway metropolitan areas in the United States as regions in which immigrant communities settled after the 1990s. Historically, immigrant and minority neighborhoods are characterized by exclusion from conventional sources of financial capital––factors which compound risks associated with residential instability and foreclosure. Yet, these new gateways may offer protection from foreclosure due to the relative affordability of housing and concentration of racial and ethnic and class advantages. We examine whether foreclosure risk is mediated through spatial processes, race, nativity, and class. We find that race and nativity play a major role in mediating risk across immigrant gateways. Neighborhoods with higher levels of Asian concentration presented lower risk, regardless of nativity and income. In contrast, Latino foreclosure risk varied by nativity, income, and gateway. Emerging gateways are also associated with higher foreclosure risk. Our findings inform resurgent ethnicity theory and how middle‐class immigrant neighborhoods offer improved socioeconomic outcomes without relying on White areas as a standard for immigrant integration.

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“…First, like Las Vegas and Phoenix, Orlando epitomises the housing boom and bust (Glaeser, Gyourko, and Saiz 2008). The crisis dragged on longer in Orlando than elsewhere, especially in communities of colour (Kim and Cho 2016;Raymond, Wang, and Immergluck 2016). Partly due to the diversity of the state's Latino population, the impacts in Florida differ from other regions, but remain understudied (see Cahill and Franklin 2013;Kim and Cho 2016;Strom and Reader 2013 for exceptions).…”

Section: Orlando Florida Study Settingmentioning

confidence: 99%

Vanishing wealth, vanishing votes? Latino homeownership and the 2016 election in Florida

Rugh

2019

Journal of Ethnic and Migration Studies

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In this article, I explore how race, class, and migration influence Latino household wealth, and uncover important implications for the close 2016 US presidential election outcome in Florida. I follow over 11,000 homeowners in the Orlando area of Orange County, Florida from 2004 to 2016. To proxy for immigrant incorporation, I leverage matched voter registration records and direct observation of borrower identificationdriver's license, green card/passport, or undocumented identification. Documented immigrants appear least vulnerable to foreclosure; multivariate analyses show that Latinos with undocumented identification are most vulnerable. Foreclosure and negative equity predict decreases in voter activity among Latino Democrats and Latino Independents, respectively, but not among Latino Republicans. I confirm this pattern at the precinctlevel using data on all Orange County voters. Across Florida, county-level Latino foreclosures and lagging home prices correspond to a decline in the Democratic presidential vote from 2012 to 2016. My analysis reveals the mechanisms that erase Latino home equity and how the loss of wealth may have played a role in flipping Florida from a blue state to a red state.

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Race and uneven recovery: neighborhood home value trajectories in Atlanta before and after the housing crisis

Cited by 42 publications

References 16 publications

The Limits of Homeownership: Racial Capitalism, Black Wealth, and the Appreciation Gap in Atlanta

The Limits of Homeownership: Racial Capitalism, Black Wealth, and the Appreciation Gap in Atlanta

Impacts of Multiscale Racial Concentration on Neighborhood Foreclosure Risk in Immigrant Gateway Metropolitan Areas

Vanishing wealth, vanishing votes? Latino homeownership and the 2016 election in Florida

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