The Role of Place in Racial Identity Formation, Social Cohesion, Accord, and Discord in Two Historic, Black Gentrifying Atlanta Neighborhoods

Total Page:16

File Type:pdf, Size:1020Kb

The Role of Place in Racial Identity Formation, Social Cohesion, Accord, and Discord in Two Historic, Black Gentrifying Atlanta Neighborhoods Georgia State University ScholarWorks @ Georgia State University Sociology Dissertations Department of Sociology 4-9-2010 The Ties that Bind: The Role of Place in Racial Identity Formation, Social Cohesion, Accord, and Discord in Two Historic, Black Gentrifying Atlanta Neighborhoods Barbara Harris Combs Georgia State University Follow this and additional works at: https://scholarworks.gsu.edu/sociology_diss Part of the Sociology Commons Recommended Citation Combs, Barbara Harris, "The Ties that Bind: The Role of Place in Racial Identity Formation, Social Cohesion, Accord, and Discord in Two Historic, Black Gentrifying Atlanta Neighborhoods." Dissertation, Georgia State University, 2010. https://scholarworks.gsu.edu/sociology_diss/50 This Dissertation is brought to you for free and open access by the Department of Sociology at ScholarWorks @ Georgia State University. It has been accepted for inclusion in Sociology Dissertations by an authorized administrator of ScholarWorks @ Georgia State University. For more information, please contact [email protected]. THE TIES THAT BIND: THE ROLE OF PLACE IN RACIAL IDENTITY FORMATION, SOCIAL COHESION, ACCORD, AND DISCORD IN TWO HISTORIC, BLACK GENTRIFYING ATLANTA NEIGHBORHOODS by BARBARA HARRIS COMBS Under the Direction of Charles Jaret ABSTRACT Recent research has uncovered a new phenomenon in some distressed areas, black gentrification. Black gentrification follows the same pattern as mainstream gentrification with one notable exception: In black gentrifying neighborhoods both the poor and working class residents who resided in the neighborhood prior to its gentrification and the new residents of greater economic means are black. An additional hallmark of black gentrification that distinguishes it from traditional gentrification is that black gentrifiers in black gentrifying neighborhoods often feel a responsibility or obligation to their lower income black neighbors. Prior to the economic downturn in the United States, some in-town Atlanta neighborhoods were undergoing black gentrification. Amidst the current mortgage foreclosure epidemic facing the U.S., distressed urban areas like the ones under study, which began to gentrify in the last ten to twenty years, can easily fall prey to mortgage fraud and/or further decline. Sustained revitalization efforts require that the neighborhoods maintain a critical density level; therefore, neighborhoods cannot afford to lose more citizens. My dissertation focuses on two historic, black gentrifying in-town Atlanta neighborhoods: the Old Fourth Ward and the West End. The Old Fourth Ward is the location of the birth home of one of Atlanta s most celebrated sons, Dr. Martin Luther King Jr. The West End, once a center of black consciousness in the city, now boasts one of the highest mortgage fraud rates in the nation. Revitalization efforts in both communities are in jeopardy. This dissertation explores ways to strengthen social and economic cohesion in these gentrifying black communities. Specifically, I argue that attachment to the neighborhood space (something I term place affinity ) has the potential to obviate social tensions in gentrifying black communities and bind residents to each other and the social space they all occupy. INDEX WORDS: Gentrification, Black gentrification, Place, Place affinity, Space, Attachment, Social cohesion, Gentrifying communities, Homeowners, Renters, Racial identity formation, Accord, Discord THE TIES THAT BIND: THE ROLE OF PLACE IN RACIAL IDENTITY FORMATION, SOCIAL COHESION, ACCORD, AND DISCORD IN TWO HISTORIC, BLACK GENTRIFYING ATLANTA NEIGHBORHOODS by BARBARA HARRIS COMBS A Dissertation Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy in the College of Arts and Sciences Georgia State University 2010 Copyright by Barbara Harris Combs 2010 THE TIES THAT BIND: THE ROLE OF PLACE IN RACIAL IDENTITY FORMATION, SOCIAL COHESION, ACCORD, AND DISCORD IN TWO HISTORIC, BLACK GENTRIFYING ATLANTA NEIGHBORHOODS by BARBARA HARRIS COMBS Committee Chair: Charles Jaret Committee: Katherine Hankins Deirdre Oakley Adia Harvey Wingfield Electronic Version Approved: Office of Graduate Studies College of Arts and Sciences Georgia State University May 2010 iv DEDICATION This dissertation is devoted to my family: my loving husband, Darrell; my children, Breann and Jason; and my mother, Ruby Mae. Darrell, if I had it to do all over again, I would choose you. Jason and Breann you are my joy and my inspiration. Mom, when my children are grown, I hope I can be the kind of mother to them that you have been to me, and I hope you are around to see it! Thank you each for all the sacrifices that you made so that I could live my dream. I cannot tell you how much your patience, love, and encouragement have meant. I could never have done this without you. I only hope that I can play some small role in helping each of you to fulfill your dreams. You deserve it. v ACKNOWLEDGEMENTS They say a journey of a thousand miles begins with one step. Taking that first step sounds like an easy proposition, but of course, it is not. I owe a tremendous debt of gratitude to my chair, Dr. Charles Jaret, for helping me to figure out my first steps and for minimizing the missteps along my journey. To be certain, I still made mistakes, but I am convinced that I would have made many more were it not for his tutelage. Thank you, Dr. Jaret, for your criticism and for your encouragement, both of which were invaluable. Your insights made me a better researcher, student, and writer, and I am forever grateful. I also want to thank Dr. Katherine Hankins for her support. Whether it was a friendly face, a helpful article, a dependable referral for map assistance, an insightful comment, or a shoulder to lean on, I could always count on you. Thank you for bringing the perspectives of your discipline, geography, to this work. Many thanks also to Dr. Deirdre Oakley for her assistance and insight in my Doctoral Dissertation Research Grant application to HUD and to Dr. Adia Harvey Wingfield for helping me to see, understand, and appreciate the richness of the text. I owe a special thank you to Matt Chapman for creating my maps and Census tables. In addition to intellectual and emotional support from the individuals listed above and others, this research would not have been possible without financial support from two sources. I want to acknowledge and thank the Department of Housing and Urban Development (HUD) for a generous Doctoral Dissertation Research Grant (DDRG) and the Southern Regional Education Board (SREB) for a Doctoral Dissertation Year Fellowship. vi TABLE OF CONTENTS ACKNOWLEDGEMENTS ............................................................................................................ v LIST OF TABLES .......................................................................................................................xiv LIST OF FIGURES....................................................................................................................... xv CHAPTER 1. INTRODUCTION ........................................................................................................ 1 Statement of the Problem ............................................................................................................. 3 Purpose and Analytical Objectives of the Study ........................................................................9 Need for the Study....................................................................................................................... 14 Research Questions .....................................................................................................................16 Hypotheses ...................................................................................................................................17 Definitions ....................................................................................................................................18 CHAPTER 2. A REVIEW OF THE LITERATURE ON BLACK GENTRIFICATION .24 Central Themes and Ideas in Studies of Black Gentrification................................................26 Intra-racial Dynamics in Black Gentrification Neighborhoods .......................................... 27 Tensions, Disagreements, and Conflict...............................................................................27 Solidarity and Cooperation in Black Gentrification Neighborhoods. ............................. 31 Racial Uplift. .........................................................................................................................33 Boundary Work. ...................................................................................................................34 Neighborhood/Place Identity in Black Gentrification Areas .................................................. 37 Black Places, Black Spaces......................................................................................................41 Conclusion.................................................................................................................................... 44 vii CHAPTER 3. RESEARCH METHODOLOGY............................................................................ 45 Methods........................................................................................................................................45 Study Neighborhoods .............................................................................................................
Recommended publications
  • Unemployment, Negative Equity, and Strategic Default
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Gerardi, Kristopher; Herkenhoff, Kyle F.; Ohanian, Lee E.; Willen, Paul S. Working Paper Can't pay or won't pay? Unemployment, negative equity, and strategic default Working Papers, No. 15-13 Provided in Cooperation with: Federal Reserve Bank of Boston Suggested Citation: Gerardi, Kristopher; Herkenhoff, Kyle F.; Ohanian, Lee E.; Willen, Paul S. (2015) : Can't pay or won't pay? Unemployment, negative equity, and strategic default, Working Papers, No. 15-13, Federal Reserve Bank of Boston, Boston, MA This Version is available at: http://hdl.handle.net/10419/130700 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu No. 15-13 Can’t Pay or Won’t Pay? Unemployment, Negative Equity , and Strategic Default Kristopher Gerardi, Kyle F.
    [Show full text]
  • The Determinants of Attitudes Towards Strategic Default on Mortgages∗
    June 2011 The Determinants of Attitudes towards Strategic Default on Mortgages∗ Luigi Guiso European University Institute, EIEF, & CEPR Paola Sapienza Northwestern University, NBER, & CEPR Luigi Zingales University of Chicago, NBER, & CEPR Abstract We use survey data to measure households’ propensity to default on mortgages even if they can afford to pay them (strategic default) when the value of the mortgage exceeds the value of the house. The willingness to default increases both in the absolute and in the relative size of the home- equity shortfall. Our evidence suggests that this willingness is affected both by pecuniary and non- pecuniary factors, such as views about fairness and morality. We also find that exposure to other people who strategically defaulted increases the propensity to default strategically because it conveys information about the probability of being sued. ∗ An earlier version of this paper circulated with the title “Moral and Social Constraints to Strategic Default on Mortgages.” We would like to thank the University of Chicago Booth School of Business and Kellogg School of Management for financial support in establishing and maintaining the Chicago Booth Kellogg School Financial Trust Index. Luigi Guiso is grateful to PEGGED for financial support. We thank Campbell Harvey (editor), Amir Sufi, two anonymous referee and seminar participants at the University of Chicago and New York University for very useful suggestions, Gabriella Santangelo and Filippo Mezzanotti for excellent research assistantship, and Peggy Eppink for editorial help. We also thank Amit Seru for providing us with a time series of actual strategic default within his sample. 1 In 2009, for the first time since the Great Depression, millions of American households found themselves with a mortgage that exceeded the value of their home.
    [Show full text]
  • Housing and the Economy: Policies for Renovation
    Housing and the Economy: Policies for Renovation Chapter from forthcoming: Economic Policy Reforms 2011 Going for Growth Economic Policy Reforms 2011 Going for Growth © OECD 2011 PART II Chapter 4 Housing and the Economy: 1 Policies for Renovation 1 This chapter compares a number of housing policies for a range of OECD countries and concludes that badly-designed policies can have substantial negative effects on the economy, for instance by increasing the level and volatility of real house prices and preventing people from moving easily to follow employment opportunities. Some of these policies played an important role in triggering the recent financial and economic crisis and could also slow down the recovery. The chapter makes some recommendations for efficient and equitable housing policies that can also contribute to macroeconomic stability and growth. 3 II.4. HOUSING AND THE ECONOMY: POLICIES FOR RENOVATION Summary and conclusions Badly-designed housing policies played an important role in triggering the recent economic and financial crisis. This chapter investigates how housing policies should be designed to ensure adequate housing for citizens, support growth in long-term living standards and strengthen macroeconomic stability. Governments intervene in housing markets to enhance people’s housing opportunities and to ensure equitable access to housing. These interventions include fiscal measures, such as taxes and subsidies; the direct provision of social housing or rent allowances; and various regulations influencing the quantity, quality and price of housing. Housing policies also have a bearing on overall economic performance and living standards, in that they can influence how households use their savings as well as residential and labour mobility, which is crucial for reallocating workers to new jobs and geographical areas.
    [Show full text]
  • The Life and Times of Penny Arcade. Matthew Hes Ridan Ames Louisiana State University and Agricultural & Mechanical College
    Louisiana State University LSU Digital Commons LSU Historical Dissertations and Theses Graduate School 1996 "I Am Contemporary!": The Life and Times of Penny Arcade. Matthew heS ridan Ames Louisiana State University and Agricultural & Mechanical College Follow this and additional works at: https://digitalcommons.lsu.edu/gradschool_disstheses Recommended Citation Ames, Matthew Sheridan, ""I Am Contemporary!": The Life and Times of Penny Arcade." (1996). LSU Historical Dissertations and Theses. 6150. https://digitalcommons.lsu.edu/gradschool_disstheses/6150 This Dissertation is brought to you for free and open access by the Graduate School at LSU Digital Commons. It has been accepted for inclusion in LSU Historical Dissertations and Theses by an authorized administrator of LSU Digital Commons. For more information, please contact [email protected]. INFORMATION TO USERS This manuscript has been reproduced from the microfilm master. UMI films the text directly from the original or copy submitted. Thus, some thesis and dissertation copies are in typewriter face, while others may be from any type of computer printer. The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print, colored or poor quality illustrations and photographs, print bleedthrough, substandard margins, and improper alignment can adversely affect reproduction. In the unlikely event that the author did not send UMI a complete manuscript and there are missing pages, these will be noted. Also, if unauthorized copyright material had to be removed, a note will indicate the deletion. Oversize materials (e.g., maps, drawings, charts) are reproduced by sectioning the original, beginning at the upper left-hand comer and continuing from left to right in equal sections with small overlaps.
    [Show full text]
  • Understanding Strategic Defaults
    MORGAN STANLEY RESEARCH Morgan Stanley & Co. Vishwanath Tirupattur Incorporated [email protected] +1 (212) 761 1043 Oliver Chang [email protected] +1 (415) 576 2395 James Egan [email protected] April 29, 2010 +1 (212) 761 4715 Securitized Credit Global ABS Market Insights Understanding Strategic Defaults Strategic Defaults are a Growing Concern: Strategic defaults have emerged as a key theme in the context of the ongoing foreclosure crisis in US housing. We define strategic defaults to be defaults on mortgage obligations by borrowers who are a) underwater on their mortgages and b) have other meaningful non-mortgage obligations on which they continue performing. We use borrower level data on the performance of mortgage and non-mortgage obligations to assess the magnitude of strategic defaults and analyze their evolution across vintage, Mark-to-Market LTV and borrower characteristics. Vintage, Credit Scores and Loan Balances Matter: The incidence of strategic defaults is higher at higher credit scores, more recent vintages and loans with large balances. At low levels of negative equity, strategic defaults are relatively low but they pick up steadily as the degree of negative equity increases. Collateral Implications of Strategic Defaults: Prime jumbo collateral is the most exposed collateral to potential strategic defaults. This is also the collateral type that benefits the least from loan modification efforts such as HAMP, and is least likely to be eligible for FHA refinancing. In contrast, the incidence of strategic defaults is significantly lower at the subprime end of the credit spectrum with lower credit scores and lower loan balances.
    [Show full text]
  • Home to Life Aaron J
    36 our lives ol 14 40 Madison’s LGBT&XYZ Magazine Area Experts Share What Trends Have Them Excited March/April BRINGING A 2015 home to life Aaron J. Sherer Paine Art Center & Gardens OURLIVESMADISON.COM >> Connect Our Community >> FACEBOOK.COM/OURLIVESMAGAZINE NEED HELP GETTING RATES AS LOW AS THROUGH WINTER? Unlock the equity in your home for flexible funds that fit * your needs. Finish up your winter project, purchase a safer APR car or enjoy a vacation away with an affordable loan. 3.99% 1 Variable Rate Line of Credit GET STARTED AT UWCU.ORG. *APR is annual percentage rate. Rates are subject to change. The minimum loan amount is $5,000. Rates shown are for up to 70% loan-to-value. Home equity lines of credit have a $149 processing fee due at closing. Closed-end home equity products have a processing fee due at closing that can range from $75 to $200. Other closing costs are waived, except the appraisal cost or title insurance if required. Appraisal costs range from $400 to $600. Property insurance is required. 1Line of credit—During the 5-year draw period, the minimum monthly payment for HELOC 70%, HELOC 80% and HELOC 90% will be (a) $50 or (b) the accrued interest on the outstanding balance under the agreement as of the close of the billing cycle, whichever is greater. The minimum monthly payment for HELOC 100% will be (a) $100 or (b) 1.5% of the outstanding balance, whichever is greater. However, if you exceed the maximum principal loan balance allowed under your agreement, you will also be required to pay an amount sufficient to reduce your principal loan balance to the maximum principal loan balance allowed under the agreement.
    [Show full text]
  • Foreclosures and the Housing Market: Lessons for Policy Lecture at Woodrow Wilson School
    What Happened? Who Defaulted and Why? Effect on Housing Market? Policy Foreclosures and the Housing Market: Lessons For Policy Lecture at Woodrow Wilson School Adam M. Guren Boston University November 2015 What Happened? Who Defaulted and Why? Effect on Housing Market? Policy The Housing Crisis Was a Foreclosure Crisis • 2006-13: 8% of owner-occupied homes foreclosed upon. • As much as 70% of sales in hardest-hit cities. Source: CoreLogic Data What Happened? Who Defaulted and Why? Effect on Housing Market? Policy Foreclosures Are Still a Problem • Foreclosures have subsided but still elevated. Source: BlackKnight Mortgage Monitor 1. Slow to liquidate backlog, particularly in judicial states. • In 6 months, 23% of houses “in foreclosure” sold, and 7% cure. 2. Prices still below peak. Owners who bought near peak owe more than house is worth. 3. Prices have not risen substantially everywhere. What Happened? Who Defaulted and Why? Effect on Housing Market? Policy Geographic Concentration of Deliquency Source: BlackKnight Mortgage Monitor What Happened? Who Defaulted and Why? Effect on Housing Market? Policy What Happened and What Can We Do About It? • Big, complicated topic. We could talk for days. I will only scratch the surface. 1. What happened? 2. Who defaulted and why? 3. What effect did this have on the housing market as a whole? 4. What can policy do? What Happened? Who Defaulted and Why? Effect on Housing Market? Policy Massive Housing Bubble • Massive housing bubble. • Since 1970s, nation-wide house price indices had not fallen. First nation-wide boom-bust. • Strongest in “sand states”: CA, AZ, NV, FL.
    [Show full text]
  • Regents Examination English Language Arts
    REGENTS IN ELA The University of the State of New York REGENTS HIGH SCHOOL EXAMINATION REGENTS EXAMINATION IN ENGLISH LANGUAGE ARTS Tuesday, January 21, 2020 — 9:15 a.m. to 12:15 p.m., only The possession or use of any communications device is strictly prohibited when taking this examination. If you have or use any communications device, no matter how briefly, your examination will be invalidated and no score will be calculated for you. A separate answer sheet has been provided for you. Follow the instructions for completing the student information on your answer sheet. You must also fill in the heading on each page of your essay booklet that has a space for it, and write your name at the top of each sheet of scrap paper. The examination has three parts. For Part 1, you are to read the texts and answer all 24 multiple-choice questions. For Part 2, you are to read the texts and write one source-based argument. For Part 3, you are to read the text and write a text-analysis response. The source-based argument and text-analysis response should be written in pen. Keep in mind that the language and perspectives in a text may reflect the historical and/or cultural context of the time or place in which it was written. When you have completed the examination, you must sign the statement printed at the bottom of the front of the answer sheet, indicating that you had no unlawful knowledge of the questions or answers prior to the examination and that you have neither given nor received assistance in answering any of the questions during the examination.
    [Show full text]
  • Unemployment, Negative Equity, and Strategic Default∗
    Can't Pay or Won't Pay? Unemployment, Negative Equity, and Strategic Default∗ Kristopher Gerardi,y Kyle F. Herkenhoff,z Lee E. Ohanian,x and Paul S. Willen{ June 12, 2015 Abstract Prior research has found that job loss, as proxied for by regional unemployment rates, is a weak predictor of mortgage default. In contrast, using micro data from the PSID, this paper finds that job loss and adverse financial shocks are important deter- minants of mortgage default. Households with an unemployed head are approximately three times more likely to default compared to households with an employed head. Sim- ilarly, households that experience divorce, report large outstanding medical expenses, or have had any other severe income loss are much more likely to exercise their default option. While household-level employment and financial shocks are important drivers of mortgage default, our analysis shows that the vast majority of financially distressed households do not default. More than 80% of unemployed households with less than one month of mortgage payments in savings are current on their payments. We argue that this has important implications for theoretical models of mortgage default as well as loss mitigation policies. Finally, this paper provides some of the first direct evidence on the extent of strategic default. Wealth data suggest a limited scope for strategic ∗We are grateful for comments by Gene Amromin, Jan Brueckner, Satyajit Chatterjee, Morris Davis, Andra Ghent, John Krainer, Edward Kung, Stuart Gabriel, Erwan Quintin, Joe Tracy, and Rob Valetta as well as comments from seminar participants at the 2014 FRBSF-Ziman Center Housing Conference, 2014 HULM Conference at FRB Chicago, and 2015 AREUEA.
    [Show full text]
  • Before the Pandemic, Homeowners of Color Faced Structural Barriers to the Benefits of Homeownership
    HOUSING FINANCE POLI C Y CENTER RESEARCH REPORT Before the Pandemic, Homeowners of Color Faced Structural Barriers to the Benefits of Homeownership Michael Neal Jung Hyun Choi John Walsh August 2020 ABOUT THE URBAN INSTITUTE The nonprofit Urban Institute is a leading research organization dedicated to developing evidence-based insights that improve people’s lives and strengthen communities. For 50 years, Urban has been the trusted source for rigorous analysis of complex social and economic issues; strategic advice to policymakers, philanthropists, and practitioners; and new, promising ideas that expand opportunities for all. Our work inspires effective decisions that advance fairness and enhance the well-being of people and places. Copyright © August 2020. Urban Institute. Permission is granted for reproduction of this file, with attribution to the Urban Institute. Cover image by michaelheim/Shutterstock. Contents Acknowledgments iv Homeowners of Color Faced Barriers to the Benefits of Homeownership 1 Homeowners of Color Have Less Housing Equity 2 Lower Home Values and Higher Mortgage Debt Result in Less Housing Equity for Homeowners of Color 3 Economics Is Only Part of the Reason Homeowners of Color Have Less Housing Equity 7 Discrimination Contributes to Home Equity Differences 8 Homeowners of Color May Have a Modestly Higher User Costs of Homeownership 9 Why Are User Costs Higher for Homeowners of Color? 10 Home Price Appreciation May Be a Bright Spot for Homeowners of Color 13 Policy Recommendations 14 Conclusion 16 Notes 17 References 20 About the Authors 21 Statement of Independence 22 Acknowledgments This report was funded by a grant from the Wells Fargo Foundation.
    [Show full text]
  • Buy-To-Let Mortgage Arrears Report
    Buy-to-let Mortgage Arrears: Understanding the factors that influence landlords’ mortgage debt Alison Wallace and Julie Rugg Centre for Housing Policy Spring 2014 About the University of York York has become one of the top ten universities in the UK for teaching and research. In the Times Higher Education world rankings of universities less than 50 years old it is first in the UK and seventh in the world. There are now over 30 academic departments and research centres and the student body has expanded to nearly 16,000. Virtually all our research is “internationally recognised” and over 50% is “world-leading” or “internationally excellent” (Research Assessment Exercise 2008). The University of York is consistently a top 10 UK research university and attracted over £200 million of funding in the academic year 2011/12. The University works with public, private and third sector organisations across its research activities. About the Centre for Housing Policy The Centre for Housing Policy at the University of York has a twenty-year record of academically excellent and policy-relevant research, with measurable impacts on policy and services. Researchers have internationally recognised expertise across the full range of housing issues, and skills from analysis of large-scale data sets to interviewing vulnerable people. The Centre undertakes independent, evidence based research for Government departments, charities, and private sector organisations. For further information about CHP see www.york.ac.uk/chp About the authors Alison Wallace is a Research Fellow and joined the Centre for Housing Policy at the University of York in 2001. Her expertise is in homeownership and housing markets and, prior to joining academia, she worked as a social housing practitioner in London.
    [Show full text]
  • UK Equity Release Mortgages: a Review of the No Negative Equity Guarantee
    UK Equity Release Mortgages: a review of the No Negative Equity Guarantee by Radu S. Tunaru, Professor of Quantitative Finance Enoch Quaye, Research Assistant The Actuarial Research Centre (ARC) is the Institute and Faculty of Actuaries’ (IFoA) network of actuarial researchers around the world. The ARC delivers industry-led, cutting edge research programmes that address some of the significant challenges in actuarial science. It does this by bridging academic rigour with practitioner needs - working collaboratively with academics, industry and other actuarial bodies. This piece of ARC research has been jointly commissioned by the IFoA and the Association of British Insurers. 19 February 2019 DISCLAIMER The views expressed in this publication are those of invited contributors and not necessarily those of the Institute and Faculty of Actuaries or the Association of British Insurers. The Institute and Faculty of Actuaries and the Association of British Insurers do not endorse any of the views stated, nor any claims or representations made in this publication and accept no responsibility or liability to any person for loss or damage suffered as a consequence of their placing reliance upon any view, claim or representation made in this publication. The information and expressions of opinion contained in this publication are not intended to be a comprehensive study, nor to provide actuarial advice or advice of any nature and should not be treated as a substitute for specific advice concerning individual situations. On no account may any part of this publication be reproduced without the written permission of the Institute and Faculty of Actuaries and the Association of British Insurers.
    [Show full text]