URBN PL 121 Lecture Notes - Lecture 3: Affordable Housing, Price Controls
20 Apr 2020
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Document Summary
Majority of humanities happens in urban areas. Poverty, homelessness, energy consumption, public health, housing, food systems, transportation, Financial speculation in the housing market beginning in the 1980s. Subprime mortgage loans: mortgage issues to borrowers who have a low credit score have higher interest rates and considered risky tend to rail in excessive lending. Low income and minority residents gained access to the housing market. Homeownership rate peaked at 70% in 2004. The bubble burst in 2007 - housing market collapsed foreclosures. As of 2012 national homeownership rate has dropped to 65% Declined the most rapidly among younger age groups and black households. Housing that is priced to be affordable to specific segments of the population - usually poor people and working class families, who cannot afford market rate housing . Since the great recession, affordable housing has become a central focus of urban policy and planning.
