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ERIC Number: EJ784624
Record Type: Journal
Publication Date: 2007-Dec
Pages: 28
Abstractor: Author
Reference Count: 31
ISSN: ISSN-0037-7732
Residential Segregation and the Transformation of Home Mortgage Lending
Bond, Carolyn; Williams, Richard
Social Forces, v86 n2 p671-698 Dec 2007
This article shows that, after decades of inequality, the 1990s saw sudden and dramatic increases in lending to low income and minority groups. Drawing in part on the work of Williams, Nesiba and McConnell (2005), we argue that government deregulation, industry restructuring and government-insured loans all fueled this growth by increasing the sources of loans to minorities. We further argue that this increased lending had small but perceptible effects on residential segregation. But, the transformation of the home mortgage industry also gave rise to new lenders who were quite unlike the old. We contend that the nature of lending was even more important than the amount: some lenders and types of lending had much more of an impact on residential segregation than did others. Specifically, loans from traditional lenders tended to decrease segregation. Conversely, loans from subprime and manufactured housing lenders that specialized in serving low income and minority markets either had no statistically significant effect on segregation or even increased it. (Contains 4 tables and 10 notes.)
University of North Carolina Press. 116 South Boundary Street, P.O. Box 2288, Chapel Hill, NC 27515-2288. Tel: 800-848-6224; Tel: 919-966-7449; Fax: 919-962-2704; e-mail:; Web site:
Publication Type: Journal Articles; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A