Racially unequal home mortgage loan patterns are alive and well today with many financial institutions. Efforts to change these trends are difficult when few question the ‘reinvestment thesis’—an environment in which financial institutions are assumed to meet community needs, even when data suggest the opposite. In this article, we analyze thirteen years of financial institution lending data from 2007 to 2019 in Pittsburgh that show how the city’s African American neighborhoods are starved for private capital as vastly more loans and loan dollars were approved in white neighborhoods. Conversely, an analysis of public expenditures for affordable housing between 2010 and 2020 demonstrate the majority of government dollars went to minority neighborhoods. These data provide a partial explanation as to why Pittsburgh lost > 10,000 Black residents over the past decade. These wide disparities are a significant barrier to building African American wealth and present challenges to community development efforts.
Gentrification has become one of the most widely used terms in urban studies, but it is also woefully misunderstood and misused. First coined by British sociologist Ruth Glass in the 1960s, gentrification has come to be used by activists as a disturbing trend that results in the displacement of low-income, minority families from cities. But four recently published books give new meaning to this phrase and offer some correctives for how we should view the improvement of homes, businesses, public spaces, and even the role of the arts. Dennis Gale's The Misunderstood History of Gentrification, Andrew Manshel's Learning from Bryant Park, Tyler Denmead's The Creative Underclass, and Christian M. Anderson's Urbanism without Guarantees offer unique perspectives on this phenomenon, which has reordered urban real estate values for more than a century. These books are somewhat limited in their scope in that they situate gentrification in cities along the eastern seaboard, primarily Washington, D.C., New York, Boston, and Providence. But together, they offer insights into the history and practical application of rehabilitating urban land and buildings.Recent real estate developments (both new construction and renovations) have undoubtedly displaced many minorities and lower-income residents from established neighborhoods. In Pittsburgh, where new residential construction can be seen all over the city, more than 13 percent of the city's African American population declined between 2010 and 2020, the largest percentage drop since the American Civil War. 1 But as these four authors argue, improving urban real 1152918J UHXXX10.
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