Skip to content
  • Hispanic areas lag in housing recovery

    Boston Globe - 02/09/2015

    Hispanic neighborhoods tend to have higher populations of immigrants who were first-time home buyers and were put at risk by lenders who waived credit checks and minimum-income levels, housing specialists said.

    Many of these subprime loans were for multifamily homes, which are popular among low-income residents because they can rent out units to generate income.

    All of this activity led to an increase in home sales and skyrocketing prices in lower-income neighborhoods. But then the housing bubble burst in the middle of the last decade, the financial crisis followed, and many workers lost jobs.

    The result: People who were barely making mortgage payments before the recession went into foreclosure, causing home prices around them to plummet.

    “It’s the old story of what goes up fastest falls fastest,” said Barry Bluestone, director of the Dukakis Center for Urban and Regional Policy at Northeastern University.

  • Cookies on Northeastern sites

    This website uses cookies and similar technologies to understand your use of our website and give you a better experience. By continuing to use the site or closing this banner without changing your cookie settings, you agree to our use of cookies and other technologies. To find out more about our use of cookies and how to change your settings, please go to our Privacy Statement.