A PRRAC Series. Edited by Megan Haberle (former Deputy Director, PRRAC) and Sophia House (Deputy Director for Policy, Housing Solutions Lab, NYU Furman Center).
Excerpt: “In many ways, these essays expose the enormity of the project of housing finance reform. Housing finance is underpinned by assessments of risk and value that have not escaped their racist origins, and many essays in this series grapple, in different ways, with the question of whether and how we can take those threads out of the fabric. But our authors also offer steps forward that policymakers can take action on immediately to reform the GSEs, the CRA, the real estate industry, and more. Equally importantly, these essays offer a vision of what housing finance might look like beyond the constraints of neoliberalism, and challenge us to consider the possibilities that the current political moment might unlock. Already, we can see these ideas beginning to take clearer shape on the national stage, thanks to the hard work of many—and we hope to see new legislative proposals, federal administrative initiatives, and state and local commitments that will bring us closer to a new, more just reality.”
Table of Contents
Part I. Introduction…………1
- Introduction………….2
Megan Haberle, Sophia House
PART II. Structural Racism in Housing Finance: Understanding the System to Change the System…………7
- Moving Towards a Reparations Agenda in Housing: The Federal Government and the Black/White Homeownership Gap……..8
Carolina Reid - Land Values and the Enduring Significance of Racial Residential Segregation…………19
Henry-Louis Taylor, Jr - Biden’s Executive Order on Racial Equity: Don’t Forget that Federal Regulation of the Financial System Must Affirmatively Further Fair Housing……27
Henry Korman
PART III. Improving Our Toolkit: Recommendations for Better Governance…………35
- Shifting the Burden of Proof to the Discriminators: A Proposal for Real Estate Industry Data Collection……..36
Max Besbris, Jacob Faber, Elizabeth Korver-Glenn - Racial Justice and the Mortgage Market: Recommendations to the Biden Administration Regarding the Future of the GSEs………..43
Daniel Immergluck - The Use of Special Purpose Credit Programs to Promote Racial and Economic Equity (Updated April 2022) ………..52
Patrice Alexander Ficklin, Charles Nier, III - CRA Could Do a Better Job Promoting Integration…………60
Josh Silver
PART IV. Moving Beyond the Market: Community Ownership and the Right to Housing…………71
- What Can HUD do to Support Community Ownership and Control of Rental Housing?…………72
Philip Tegeler - Towards the Black Commons: Meeting the Moment with Community Land Trusts………..82
Krystle Okafor - Racial Justice in Housing Finance: A Series on New Directions iv How Can the U.S.
Decommodify Housing? ……89
Oksana Mironova - The Campaign for a National Homes Guarantee………..98
Tara Raghuveer
PART V. Fair Housing for Publicly-Funded Production: A Nuts and Bolts Look at LIHTC Reform………..105
- How the Federal Government Can Promote Fair Housing in the LIHTC Program………..106
Peter Kye - State HFAs, Affordable Housing, and Segregation: Existing Approaches and Areas for Growth ………..114
Darryn Mumphery - LIHTC Development in High-Cost Areas: Challenges and Potential Solutions………..120
Matthew Murphy, Adam George
