Investing in Community-Driven Solutions Key to Pandemic Recovery

Communities know what improvements they need, but many lack resources or infrastructure to act. This policy tool, and an example of where it is working, can help communities put solutions into action. Read More  

CRA, Racism & the Federal Reserve: A Midwest Perspective

The Community Reinvestment Act is up for its first significant revision in 25 years. It’s important we optimize this tool to address systemic disinvestment in lower-income and minority communities. Read More  

Subprime May Not Have Caused the 2000s Housing Crisis: Evidence from Cleveland, Ohio

During the 2000s housing bust, Cleveland’s Slavic Village was dubbed “ground zero of the foreclosure crisis” by the national media. Despite this, during the preceding housing boom Cleveland had stable house price growth and relatively low mortgage debt growth, a stark contrast to circumstances in areas such as California that had exceptionally high house price and mortgage debt growth. What explains the relatively minor housing boom and perceived sharp downturn in Cleveland? In this Commentary I show that while subprime debt was a prominent source of debt in Cleveland and especially in its Slavic Village neighborhood during the 2000s, it is difficult to peg subprime debt as playing a causal role in the subsequent foreclosure crisis. Read More  

An Uncommon Crisis: COVID-19 and its Disproportionate Impacts on Vulnerable Communities

When we asked community partners how COVID-19’s disruptions are impacting low- and moderate income families and neighborhoods and traditionally underserved communities, they heard this: the virus is impacting the already vulnerable disproportionately, and in a way that accentuates existing disparities. Read More  

Help for Those Facing Eviction Increases to Meet the Challenge of COVID-19

With businesses closed and orders to shelter in place, many tenants—especially those with low- to moderate-incomes—are finding themselves unemployed, unable to pay their rents, and subject to eviction. There are resources to help. Read More