Housing Foreclosure as A Geographically Contingent Event: Columbus Ohio 2003–2007

Brown, Lawrence A.; Webb, Michael D.; Chung, Suyeul

doi:10.1080/02723638.2013.802128

Cited by 7 publications

(7 citation statements)

References 61 publications

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“…While renters have also been affected by the vagaries of the crash (Dewilde and De Decker, 2016), much of the housing literature has examined the economic vulnerabilities arising for mortgaged households, particularly the socio-spatial impacts of the concentration of mortgage defaults and foreclosures among US subprime borrowers (Schafran, 2013, Crump et al, 2008, Brown et al, 2013. However, for Forrest (2011, 9) this focus on the finite events of mortgage arrears and repossession only capture the "overt casualties" of the crash.…”

Section: Introductionmentioning

confidence: 99%

“We’re just existing, not living!” Mortgage stress and the concealed costs of coping with crisis

Waldron

Redmond

2016

Housing Studies

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Following the financial crisis, an extensive literature has examined the vulnerabilities facing mortgagors in default and foreclosure. However, in addition to these 'overt casualties' of the crash, many households are struggling to meet their mortgage payments by enduring severe cutbacks to their quality of life. The experiences of these 'unrevealed casualties' of the financial crisis and the coping strategies they employ to respond to mortgage stress remain under-explored. Drawing on survey data of Irish mortgagors (n=433), this paper examines the impacts of mortgage stress upon quality of life and mortgagors' coping strategies to respond to their financial difficulties. The findings suggest that mortgage stress affects a broader range of households than previously considered; mortgage stressed households adopt a range of expenditure, employment, finance and housingrelated responses; and more punitive responses correlate with greater mortgage stress levels, thereby providing a fuller account of the real cost of coping with the crisis impacts.

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Section: Introductionmentioning

confidence: 99%

“We’re just existing, not living!” Mortgage stress and the concealed costs of coping with crisis

Waldron

Redmond

2016

Housing Studies

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“…We argue that the origins of the post-2007 Great Recession are most appropriately related to a confluence of events rather than a single cause (Brown, Webb, and Chung 2013). Pertinent antecedents include (1) financial industry restructuring, (2) shifts in federal mortgage market regulation and oversight, and (3) actions of individual homeowners and real estate professionals.…”

Section: The Post-2007 Foreclosure Crisis: History and Explanationsmentioning

confidence: 97%

“…Researchers have linked neighborhood‐level foreclosure rates to (1) socioeconomic deprivation, (2) demographic characteristics, (3) older and less valuable housing stock, and (4) financial distress as measured by low credit scores (Brown et al ; Hammel and Shetty ; Wyly et al ). To that end, neighborhoods with higher proportions of racial and ethnic minority residents, in addition to the elderly, tend to exhibit higher foreclosure rates (Kaplan and Sommers ).…”

Section: Literature Reviewmentioning

confidence: 99%

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Foreclosure, Inequality, and the Difference That Place Makes

Webb

Brown

2016

Rural Sociology

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While the Great Recession and the associated rise in foreclosures significantly impacted households across the United States, default rates in rural areas and rural‐urban foreclosure differences have failed to attract substantial research attention. To expand the scale and scope of the foreclosure literature, this article examines place‐based differences in estimated foreclosure rates across U.S. counties, which are classified as urban, suburban, micropolitan, or rural. Defaults are considered both overall and for each county classification, and are related to income distribution and inequality, homeownership, adjudication of default, place‐based factors including amenity scores and proximity to urban areas, and geographic region. The article finds a complex relationship among these variables, with inequality itself negatively associated with default rates and lower‐middle−income households positively related to foreclosure. Further, while proximity to urban areas is positively related to foreclosure rates among nonurban counties, natural amenities are related to lower default rates in these areas. The article concludes by considering policy implications, and recommends expanding foreclosure mitigation and prevention strategies to nonurban places.

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“…The weight of the city becomes unmistakable in light of the recent economic downturn. In the aftermath of the 2007-2008 crisis, 1 metro housing markets faltered to different degrees, as did corresponding declines in property values, tax revenues, and changes to municipal tax bases (Brown, Webb, and Chung 2013). This contributed to fiscal stress in a number of American cities, even as others quickly rebounded (Justice and Scorsone 2013).…”

Section: B a C K G R O U N D A N D T H E O R Ymentioning

confidence: 99%

As Goes the City? Older Americans’ Home Upkeep in the Aftermath of the Great Recession

2019

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The private home is a crucial site in the aging process, yet the upkeep of this physical space often poses a challenge for community-dwelling older adults. Previous efforts to explain variation in disorderly household conditions have relied on individual-level characteristics, but ecological perspectives propose that home environments are inescapably nested within the dynamic socioeconomic circumstances of surrounding spatial contexts, such as the metro area. We address this ecological embeddedness in the context of the Great Recession, an event in which some U.S. cities saw pronounced and persistent declines across multiple economic indicators while other areas rebounded more rapidly. Panel data (2005–6 and 2010–11) from a national survey of older adults were linked to interviewer home evaluations and city-level economic data. Results from fixed-effects regression support the hypothesis that older adults dwelling in struggling cities experienced an uptick in disorderly household conditions. Findings emphasize the importance of city-specificity when probing effects of a downturn. Observing changes in home upkeep also underscores the myriad ways in which a city’s most vulnerable residents— older adults, in particular—are affected by its economic fortunes.

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Housing Foreclosure as A Geographically Contingent Event: Columbus Ohio 2003–2007

Abstract: This is the author manuscript accepted for publication and has undergone full peer review but has not been through the copyediting, typesetting, pagination and proofreading process, which may lead to differences between this version and the Version of Record. Please cite this article as

Cited by 7 publications

References 61 publications

“We’re just existing, not living!” Mortgage stress and the concealed costs of coping with crisis

“We’re just existing, not living!” Mortgage stress and the concealed costs of coping with crisis

Foreclosure, Inequality, and the Difference That Place Makes

As Goes the City? Older Americans’ Home Upkeep in the Aftermath of the Great Recession

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