Homeownership Short-lived In Inner City

Concerns about predatory lending in the inner city are particularly acute.

1 minute read

May 2, 2001, 6:00 AM PDT

By Chris Steins @planetizen


"A short walk through low-income neighborhoods in major US cities yields a distressing countertrend to today's home-ownership boom."For sale" signs proliferate -- testaments to a sudden jump in foreclosures in the nation's inner cities. The trend is seen from Chicago to Miami to Philadelphia, a city where the number of families who've lost their homes because they couldn't make their mortgage payments has doubled since 1997."

Thanks to Tom Collins

Tuesday, May 1, 2001 in The Christian Science Monitor

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