Publications on Housing Markets & Choice

The foreclosure crisis is now having dramatic effects throughout America. In mid-2008, recognizing that this phenomenon was still quite new, the Open Society Institute asked the Urban Institute to scan available research to document what we know about: (1) the way foreclosures impact families; (2) how foreclosures affect communities; and (3) the efforts now underway, or being suggested, to address the crisis, focusing on actions at the local level. This report presents the results of this review. A final section offers the authors' recommendations on priorities for additional research to fill important gaps in the knowledge base.

The foreclosure crisis is now having dramatic effects throughout America. In mid-2008, recognizing that this phenomenon was still quite new, the Open Society Institute asked the Urban Institute to scan available research to document what we know about: (1) the way foreclosures impact families; (2) how foreclosures affect communities; and (3) the efforts now underway, or being suggested, to address the crisis, focusing on actions at the local level. This report summarizes a longer report presenting the results of this review.

"The Impacts of Foreclosures on Families and Communities" details what is known about how foreclosures adversely affect households and their neighborhoods — from children and the elderly to public safety and local property tax revenues. It also looks at policies, programs, and response strategies to prevent or mitigate the fallout.

Battered housing prices are central to today's financial crisis. So far, the federal government has directed vast sums to homeowners and the institutions that financed them in ways that are not well-targeted. Meanwhile, the country is missing a good opportunity to stimulate demand for owner-occupied housing in the short run, while making progress in reducing shortfalls in coverage for housing assistance programs. This paper argues that a major expansion of Homeowner Voucher Program provides such an opportunity through an equitable and efficient policy alternative. Published in The Economists' Voice: Vol. 6 : Iss. 6, Article 2.

Historically, residential segregation constrained where minorities could live, contributing to disparities in education, employment, and wealth. Researchers interested in the well-being and future prospects of low-income working families have not yet explored how their residential patterns may vary across racial and ethnic lines or considered the implications of these patterns. Therefore, this paper explores differences in neighborhood characteristics among white, black, and Hispanic low-income working families. The findings suggest that policies aimed at reducing the persistent disadvantages facing minority low-income working families need to address the ways the neighborhoods in which minorities live may be compounding these disadvantages.